1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Temka [501]
3 years ago
14

A company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 9, 20

18, for $54,000 and then sells this inventory on account on March 7, 2018, for $74,000. Record the transactions for the purchase and sale of the inventory.
Business
1 answer:
poizon [28]3 years ago
6 0

Answer:

The transaction recorded are shown in the below table.

Explanation:

According to the scenario, the following transaction according to the perpetual system can be recorded as follows :

Date                        Particulars                    Debit                    Credit

Feb.9                   Purchase Inventory              $54,000

                            Accounts payable                                            $54,000

Mar.7                   Accounts Receivable            $74,000

                            Sales inventory                                                    $74,000

Mar.7                    Cost of goods sold                    $54,000

                            Inventory                                                              $54,000

You might be interested in
Your friend Ed refuses to use networking to get a job. He wants to get hired based on his merits and not on whom he knows. Do yo
Sauron [17]

I would agree. As being the friend of Ed, knowing that he declines to use networking to a get a job and wants to get hired based on his own merits and not on what he knows is grounded on how he observes his integrity or truthfulness. As a friend, I would appreciate as to what he wants to show to himself and maybe examine his self as to where can he achieve not using his network.

3 0
3 years ago
Read 2 more answers
What are the features of burton biscuits
Sidana [21]
Chocolate chip cookies- a little gooey when warm
dodgers-delightfully sweet and full of filling
to name a few...
3 0
3 years ago
In kennedy's speech to rice university, find at least one example of: scope time cost quality human resources communication risk
Paha777 [63]

"We choose to go to the Moon", officially titled the Address at Rice University on the Nation's Space Effort, is a September 12, 1962, speech by United States President John F. Kennedy to further inform the public about his plan to land a man on the Moon before 1970.

Why did President Kennedy say we chose to go to the moon?

Because it is difficult. Because this goal helps us organize and helps us gauge our energies and capabilities to the fullest. What you want to accept and what you don't want to put off.

Why do we choose to go to the moon?

By successfully establishing a presence on the Moon, we will enhance life on Earth and explore the rest of the Solar System. You can get ready. Maintaining the health of astronauts in an environment with lower gravity and higher radiation levels than Earth is an important issue for medical researchers.

Learn more about we choose to go to the Moon here:- brainly.com/question/25722216

#SPJ4

5 0
1 year ago
A cartel differs from a monopoly in that
Lapatulllka [165]
A cartel differs from a monopoly in that B) businesses making the same product agree to limit production. A cartel is an agreement between producers of goods, usually primary products like oil or natural gas, who work together to set a price at an agreed upon price that is a distortion above of what the market's equilibrium price would be for the good without the cartel's intervention. 
6 0
3 years ago
An aggregate production function shows​ ________. A. the relationship between a​ country's output and its price level B. various
Maru [420]

Answer:

The correct answer is letter "C": the relationship between a​ country's GDP and its factors of production.

Explanation:

The Aggregate Production Function describes the relationship between a country's Gross Domestic Product (GDP) and the factors of production involved in it. Aggregate Production functions are considered physical and human capital, labor, knowledge, social infrastructure, and natural resources. Production increases as a result of increases in capital, natural resources, and labor.

3 0
3 years ago
Other questions:
  • Roland Company operates a small factory in which it manufactures two products: A and B. Production and sales result for last yea
    12·1 answer
  • Scott has just been given a project that has a specific completion date. After a discussion with top management he finds that wh
    15·1 answer
  • Enrico is a CPA for a large company. Recently, he noticed that the company's accounting records significantly overstated the amo
    10·1 answer
  • Which question is an illustration of a macroeconomic question? Multiple Choice a) Is a corporation unresponsive to the demands o
    9·1 answer
  • Which of the following is a difference between planning and control?
    7·1 answer
  • In 2021, Cromwell Corporation purchased bonds of Oliver Company at par for $300,000 and classified the investment as available-f
    11·1 answer
  • The prizes that can be won in a sweepstakes are listed below together with the chances of winning each one:$5200 (1 chance in 89
    10·1 answer
  • Which is the largest item in discretionary spending?
    11·1 answer
  • Should a Female with the same Qualifications as a Man, if selected for an Executive Position formerly held by a man, be paid the
    10·2 answers
  • Click this link to view O*NET's Work Activities section for Reporters and Correspondents.
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!