Answer:
Accounts receivable (Dr.) $1,075
Sales revenue (Cr.) $1,075
Cost of goods sold (Dr.) 800
Finished goods (Cr.) 800
where
Dr. = Debit
Cr. = Credit
Explanation:
The inventory account of a manufacturing firm has three sub-accounts: Raw materials, Work-in-process, and Finished goods. The goods purchased by the company were sold without any work done. It means that they were purchased in finished form, so, the company will record these goods in its finished goods inventory. When goods are sold, we have to record sales and receivable. AND on the same time, under perpetual inventory system, the cost of goods that are sold and inventory account are also adjusted to reflect the changes.
In "thinking like an economist," the section "the role of economic theory" states that many economists believe that useful insights into our behavior can be gained by assuming that we act as if governed by the rules of rational decision-making.
It is possible to define rational decision-making as a decision-making process that incorporates reasoning at every stage. It is founded on the use of impartial knowledge. The first step in making a reasonable decision is to identify the issue that needs to be resolved, followed by the collection of all relevant data.
The next step is to examine every outcome that might result from each potential solution. The decision-making process that follows comprises weighing all viable options and selecting the best one based on reasoning.
Rational decision-making examples include:
● A student chooses what to study in his post-secondary education.
● A commercial choice regarding what to buy for the company.
To know more about decision-making refer to:
brainly.com/question/1249089
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Answer:
off-peak pricing
Explanation:
Off-peak pricing is defined as the type of pricing where there is a lower charge for services when there is less flow of customers. It provides an incentive to keep customers that patronise a business when there is less demand.
When there is a rush or higher demand the price can now go higher.
In the given scenario where commuters in New York install radio frequency identification (RFID) devices on their cars that can be read automatically as they approach a toll booth. Also New York authorities the opportunity to manage traffic flow by charging different toll amounts for different times of day.
This is an off-peak pricing system
Any options to choose from?
Answer: $32,729
Explanation:
Net working capital for a period is the current assets of the company less the current liabilities.
Change in Net Working capital is:
= Increase in inventory + Increase in accounts receivable - Increase in Accounts payable
= 41,375 + 35,370 - 44,016
= $32,729
