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3 years ago

Which of the following statements about renting & owning is correct?

1 answer:

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The answer to the question which of the following statements about renting owning is correct is letter "B" An owner has a complete responsibility and control over the property.

Based on the definition of owner and renter, as well as its comparison, no doubt that the answer is indeed letter "B".

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Walmart sells a bike that cost $100 to a customer for $250 cash. using a perpetual inventory system, the entry to record the sal

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1. Using a perpetual inventory system, the entry to record the sale for Walmart includes a debit to the Cash account and a credit to the Sales Revenue account for $250.

2. The entry to record the cost of the sale under the perpetual inventory system includes a debit to the cost of goods sold and a credit to Inventory for $100.

<h3>What is the perpetual inventory system?</h3>

The perpetual inventory system can be differentiated from the periodic inventory system by the fact that perpetual inventory continuously updates the inventory value without relying on the physical inventory count.

Under this system, the cost of goods sold is debited and the inventory account is credited.

Learn more about the perpetual inventory system at brainly.com/question/25014592

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2 years ago

Which function is one that pertains to the Federal Reserve System?I. conducting fiscal policy.II. examining and supervising comm

Over [174]

Answer: yo mama

Explanation:

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3 years ago

Help please it’s due by today

Soloha48 [4]

Answer:

...... .... .nh8yv8gigig

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3 years ago

Suver Corporation has a standard costing system. The following data are available for June

Anettt [7]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

The actual quantity of direct materials purchased 20,000 pounds.

standard price of direct materials $ 7.00 per pound.

Material price variance $ 5,000 Unfavorable.

Material quantity variance S 2,500 Favorable.

Direct material price variance= (standard price - actual price)*actual quantity

-5,000= (7 - AP)*20,000

5,000= 140,000 - 20,000AP

20,000= 145,000AP

Actual price= 7.25

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4 years ago

During January, Luxury Cruise Lines incurs employee salaries of $1.2 million. Withholdings in January are $91,800 for the employ

Zarrin [17]

Answer: Please see below for answer

Explanation:

Journal for employee salary and withholdings

Particulars Debit Credit

Salaries Expense $1, 200,000

FICA tax Payable $91,800

Federal Income Tax Withholding Payable $180,000

State Income Tax Withholding Payable $75,000

Health Insurance Payable $12,000

Salaries Payable $841,200

Journal to record employer provided fringe benefits for January

Particulars Debit Credit

Salaries expense(fringe benefits)$ 36,000

Accounts payable to blue cross shield $36,000

Journal to record employer payroll taxes

Particulars Debit Credit

Payroll Tax Expense $166, 200

FICA tax Payable $91,800

unemployment tax payable $74,400

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3 years ago