Answer:
What would be the impact on January 1, 2015, the date of the sale?
The following journal entries should be made to register the sale:
January 1, 2015: 2 cars are sold
- Dr Cost of Goods Sold 37,000
- Cr Merchandise Inventory 37,000
- Dr Accounts Receivable 50,000
- Cr Sales Revenue 50,000
On January 30, 2015 Outback Subaru Limited received payment in full from the town for the cars. What would be the impact of this transaction on this date?
The following journal entry should be made to register the payment:
January 30, 2015: the local government paid the cars
- Dr Cash 50,000
- Cr Accounts Receivable 50,000
As you get older, a Target Date Fund will adjust by "Decreasing your stocks and increasing your bonds".
<u>Option:</u> A
<u>Explanation:</u>
Goal pension plans are structured to be the investment plan, which an investor utilizes to prepare for purpose of retirement. The concept is simple in life-cycle funds or age-based funds: a fund is picked up and invest as much possible then forget until one reach respective retirement age.
Although investors who invested their assets in a retirement fund must be aware of how other retirement investments could problem their allocation of assets. For instance, if a target fund has an 80% stock and a 20% bond asset allocation, but the investor purchases a deposit certificate with 10% of their retirement assets, this essentially declines the stock allocation of the overall portfolio of the investor and leads to increment of the bond allocation.
The statement which does not accurately describe the lower of cost or net realizable value valuation method for inventory is:
- <u>C. The journal entry to write down inventory does not affect pretax income</u>
Inventory has to do with the accurate listings of the goods which a business has in stock for purposes of selling. This is important because it helps to prevent theft and also to properly calculate profit and loss.
As a result of this, we can see that the lower of cost method for making inventory is a type of inventory which states that a business must have records of goods which cost lower than their current market pricing and this is used when there is a reduction in market prices
Therefore, the correct answer is option C because the journal entry does not show the pretax earnings.
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<span>Becky could be held personally responsible for any award over her policy limits. In this case, Becky could be held responsible for the remaining $45,000 to each injured party since $110,000 - $65,000 = $45,000.</span>
Answer:
Option B What businesses a firm should be in and how the corporate office should manage its group of businesses
Explanation:
The reason is that corporate level strategy helps in managing the all of the business units of the company which means that the strategy is to maximize the gains arising by increasing the effectiveness and efficiency of the business operations of the business units. So the question certainly would include the decision of whether or not we should close a business unit or that we should continue with it. It would also question whether the group business is well managed or there are any other better alternatives as well.