Answer:
Depreciation
Explanation:
Businesses are permitted to use depreciation as an expense of business operations. This extra expense will lower a firm's taxable income.
Answer: Transactional Leader
Explanation:
A transactional leader is one who provides rewards and punishments in return of compliance from their employees.
Clarissa provides employees with appropriate rewards for a job well done, therefore, she is a Transactional leader.
Answer:
2. Accounts Receivable $960 Sales Revenue $960 Cost of Goods Sold $620 Inventory $620
Explanation:
The perpetual inventory system is one in which the balance of inventory in the account is adjusted immediately there is a purchase or a sale of inventory. When inventory is sold, two actions are required under this system.
- Inventory sold is derecognized from the inventory account
This is done by debiting the cost of goods sold account and crediting the inventory account with the cost of the item sold.
This is done by crediting inventory with the amount of sale (received from or agreed with the customer) and debiting cash or accounts receivables.