Answer:
The correct answer is:
Debit: Account receivable $5,800
Credit: Sales revenue $5,800
Debit: Cost of goods sold $4,000
Credit: Merchandise inventory $4,000
Explanation:
On 1st May
Upon sale of inventory on credit
Debit: Account receivable $5,800
Credit: Sales revenue $5,800
On 1st May
To record cost of goods sold of merchandise inventory:
Debit: Cost of goods sold $4,000
Credit: Merchandise inventory $4,000
Answer:
Explanation:
offered employment by Amazon, would you be legally eligible to begin employment immediately?
Legally eligible for employment could be explained as having the right to take up a job in a particular country, which means one should posses a work permit or visa which will allow one to work for an employer in US since AMAZON is in US.
.it should be noted that The applicant is considered eligible, if the applicant is available bin US when submitting it as a citizen or with work permit
Therefore, I'm eligible to begin work immediately, if I'm offered employment by Amazon, if I meet the above criteria, and we know Amazon is in US.
Answer:
45.45%
Explanation:
The total selling price was $200,000 (paid on the date of the sale) + $900,000 (note received) = $1,100,000
Juan's cost of he land = $700,000 (basis) - $100,000 (mortgage) = $600,000
Juan's profit = $1,100,000 - $600,000
Juan's gross profit percentage = $500,000 / $1,100,000 = 45.45%
Answer:
Product cost per unit = $13
Explanation:
<em>Absorption costing values units of inventory and production using full cost per unit. Full cost per unit includes variable cost and a portion of fixed production overheads. The fixed production overhead are charged to cost units using predetermined overhead absorption rate.</em>
The full cost per unit = D.mat cost + D.labour cost + Variable overheads+ Fixed overheads.
Total full absorption cost = 125,000 + 100,000 + 75,000 + 25,000=325,000
Full cost per unit = Total full absorption cost/Number of units
= 325,000/25,000 =$13
<em>Note that we excluded non- production cost like selling and administrative from the computation because they are not related to production</em>
Product cost per unit = $13
