Sheffield Corp. compiled the following financial information as of December 31, 2017:

Q 5.36: Badger Enterprises purchased aluminum from JG Metals. When Badger Enterprises recorded this transaction, they made entri

disa [49]

Answer: periodic inventory system

Explanation:

The type of inventory system used by Badger Enterprises is the periodic inventory system. The periodic inventory system is an inventory whereby updates are usually done on periodic basis.

In the periodic inventory system, physical count of inventory is done at specific intervals. This is the method used by the company in the question.

5 0

3 years ago

According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would

Viefleur [7K]

Question options :

a. raise both private and public saving.b. raise private saving and lower public saving.c. lower private saving and raise public saving.d. lower private and public saving.

Answer:

c. lower private saving and raise public saving.

Explanation:

National saving is total of private and public saving minus the country's consumption and government expenditure.

Private saving is income from households minus consumption and taxes.

Formula for public saving is T − G − TR which is government budget surplus through revenue from tax. This is revenue from tax minus government expenditure and transfers.

3 0

3 years ago

Suppose an economy has historically grown at a rate of 1.25%. economic activity decreased every quarter over the past year, but

laiz [17]

trough

Suppose an economy has historically grown at a rate of 1.25%. economic activity decreased every quarter over the past year, but the decline stopped this quarter. the economy is expected to grow at a rate of 1.4% in the near future, but monetary authorities are concerned that inflation may increase. this economy is probably in the _____ stage of the business cycle.

8 0

3 years ago

Accounting designed to meet the needs of decision makers inside the business isa. financial accounting b. external accounting c.

Zinaida [17]

Answer:

The correct answer is letter "C": managerial accounting.

Explanation:

Managerial Accounting is an internal accounting system that helps managers to assess their decision outcomes. One common managerial accounting function is to assess the profit margin on the goods of the company. This information helps top executives set prices on those goods to ensure that good enough profit margins are being earned.

5 0

4 years ago

Bay City uses the purchases method to account for supplies. At the beginning of the year the City had no supplies on hand. Durin

Rasek [7]

Answer:

Supplies Expenditure $600,000

Supplies Inventory $200,000

Explanation:

Calculation for the appropriate account balances related to supplies expenditures and supplies inventory :

Supplies Expenditure will be $600,000 because during the year purchased of $600,000 supplies were made.

Therefore Supplies Expenditure will be $600,000

Supplies Inventory will be:

Purchased supplies $600,000

Less used supplies $400,000

Balance =$200,000

Therefore Supplies Inventory will be $200,000

6 0

3 years ago