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lara31 [8.8K]
3 years ago
14

When using a perpetual inventory system, the journal entry to record the cost of merchandise sold is _______

Business
1 answer:
Marat540 [252]3 years ago
6 0

Answer:

Explanation:

The journal entry to record the cost of merchandise sold is presented below:

Cost of merchandise sold A/c Dr XXXXX

         To Merchandise inventory A/c XXXXX

(Being cost of merchandise sold is recorded)

Simply we debited the Cost of merchandise sold account and credited the Merchandise inventory account instead of the inventory account

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Carol Bates, a young, dynamic, and affluent banker, likes to shop online and try out new products. She likes to keep herself upd
Wittaler [7]
<h2>"Innovative" traits best describes Carol</h2>

Explanation:

Based on the given statement, Carol Bates is very much interested in grabbing the latest gadgets. It means that,

  • Carol is updated
  • Adaptable to change
  • Have exploring capability to upgrade
  • A technology savvy
  • Monitors market and has good knowledge on current trends
  • Self-motivated to be on track
  • Has creative skills to use the latest gadgets

All the above qualities describes that Carol Bates is innovative.

4 0
3 years ago
On January 1, 2021, Consolidated Company purchased 100% of the common stock Avergy Industries for $720,000. On that date, Avergy
Dahasolnce [82]

Answer:

b. $ 50,000

Explanation:

Investment cost                    

720000

Book value of net asset

100000

420000

--------------

520000

Excess

200000

Allocated as follows

Land and equipment                              50000

overvaluation of bonds payable            40000

Undervaluation of inventory                    60000

Total                                                          150000

Un allocated amount    

Goodwill                                                    50000

Total                                                        200000

4 0
4 years ago
1. What is the lowest balance during this period?
RSB [31]
Actually for this type of question simply take a picture
Yah and the and is use a calculater
4 0
4 years ago
It is pizza night at the murphy home and everyone has an opinion about what they should get as a topping on the pizza. which cho
pishuonlain [190]

This isn't really a business question, but generally vegetables would be a healthier choice for a pizza topping instead of meats and cheeses.

7 0
3 years ago
Read 2 more answers
Which of the following is indicative of supervisory leadership?A. Conflict is containedB. Individual performance is developedC.
gulaghasi [49]

Answer:

B. Individual performance is developed.

Explanation:

Supervisors and leaders are closely related as both influence an audience, to grow and motivates them to attain goals.

Further, when supervisory leadership is done, it clearly helps individuals grow, and act motivated in all the aspects of the performance.

This, is clearly depicted from the results of outcomes as the performance is above the expected standards and then, the individual level of performing the job also get boosted.

Therefore, correct option is

Statement B

5 0
4 years ago
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