Answer:
Dec 31 2018
Debit. Stock $919,600
Credit. Supplier $919,600
Narration. Records of stock purchase under non cancelable agreement with supplier.
Dec 31 2018
Debit profit or loss 50,500
Credit. Stock. 50,500
Loss on carrying value of stock compare to realisable value.
The answer is C
( to reduce risk of product tampering)
Answer:
$50 or slightly less
Explanation:
If we assume that there is four persons namely E, S, A and K
The producer surplus is the surplus that shows the difference between the seller value and the seller cost
In the case when the seller bid against each other so here the producer surplus would be $100 or slightly less
Here only one person could able to send the good i.e. person E As the cost to the person would be lowered by the goods value
Therefore the option B is correct
Answer:
Fictitious revenues
Explanation:
The fictitious revenue is a revenue that do not belong to the organization but it would be added to the revenue section intentionally.
Therefore as per the given situation, in the case when the fraud is involved in the financial statement so this is a type of fictitious revnenues
hence, the same is to be considered
In horizontal filling, documents are placed in a horizontal position, one on the top of another in order of date and the latest document is kept on the top. The best example of horizontal filing is flat files and arch lever file.