All categories

3 years ago

Select all that apply.

2 answers:

3 0

<span>Money is anything that people are willing to accept to use for payment for goods and services.The purpose of money can be described as follows:
</span>store of value - money is a way of saving for future purchases
unit of account - money <span>represents the real value (or cost) of any economic item.</span><span>
medium of exchange- </span>Money serves as a medium of exchange.

Tpy6a [65]3 years ago

3 0

store of value

unit of account

medium of exchange

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Nikolay [14]

Answer:

$800

Explanation:

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3 years ago

Given: Cost of goods manufactured of $410,000; beginning finished goods inventory of $110,000 and ending finished goods inventor

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The unadjusted cost of goods sold is $395,000

<h3>What is cost of goods sold?</h3>

Cost of Goods Sold (COGS) is what measure the direct cost incurred in the production of any goods or services.

The unadjusted cost of goods is computed as:

= Cost of goods manufactured - ( Ending finished goods -Beginning finished goods inventory )

= $410,000 - ( $125,000 - $110,000)

= $410,000 - $15,000

= $395,000

Hence, the unadjusted cost of goods sold is $395,000

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2 years ago

Journalise the followung transactions.

katovenus [111]

Answer:

Explanation:

S/No Date Transaction Dr($) Cr($)

1 Oct.1 Rent Expense 3,600

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2. Oct.3 Advert. Expenses 1,200

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8 Oct.30 Utilities Expenses 250

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3 years ago

On November 1, 2018, Quantum Technology, a geothermal energy supplier, borrowed $16 million cash to fund a geological survey. Th

coldgirl [10]

Answer:

cash 16,000,000 debit

note payable 16,000,000 credit

-- to record issuance of the note--

interest expense 240,000 debit

interest payable 240,000 credit

--to record december 31th adjsuting entry--

note payable 16,000,000 debit

interest expense 1,200,000 debit

interest payable 240,000 debit

Cash 17,440,000 credit

-- to record honor of the note --

Explanation:

Timeline

<--//---------------//-------------------------//-->

Issuance adjusting entry maturity

Issuance: the note enter the accounting at his face value along with the cash received.

adjusting entry at year-end

the company recognize the accued interest expense for 2 complete months (Nov 1st to Dec 31th)

16,000,000 x .12 x 2/12 = 240,000

at maturity Quantum Technology pays the principal and interest:

16,000,000 x .12 x 9/12 = 1,440,000

but a portion of this interest are accrued already an recognize as a payable so we write-them off.

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3 years ago

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zhuklara [117]

Answer: marketing orientation

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3 years ago