Answer:
Expense must be recognized in July
Explanation:
The reason is that the expense must be recognized in the month in which the supplies are used because the accrual concept says that the expenses must be realized when they are incurred. Incurred means that the consideration received has been used. For example if I pay the telecommunication network in June to give 4G internet and the services are delivered in the month July then the expenses will be realized in the month in which the services were used and that is July for internet facilities. So in this case the supplies are used in the month of July which is in-accordance with the accrual concept.
Answer:
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Explanation:
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Answer:
a) cash flow from operating activities
net income $650,000
adjustments:
depreciation expense $96,000
accounts payable $38,000
accounts receivable -$22,800
inventory -$57,000
prepaid insurance -$8,400
net cash flow from operating activities $695,800
b) cash flow from investing activities
Sale of long term investments $57,500
Purchase of long term assets -$610,000
Long term assets exchanged for common stocks $113,000
net cash flow from investing activities -$439,500
When identical units of an item are purchased at different costs: <span>an inventory cost flow method must be used under both a perpetual and a periodic inventory system.
A perpetual inventory system will update your inventory on hand after each sale or purchase of inventory is made. A periodic inventory system is updated periodically, meaning, a company will give a time period they would like their sales and purchases to update in and the system will perform that. Both systems are great for a business but it's their option of how they are generated.
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- Apple
- Starbucks
- Godrej industries
Explanation:
Policies of Apple:
- Innovation: Apple has given more than what we have expected.
- Integrity: Apple has stayed true to itself and doesn't copy.
- Originality: The reinvention of features has made Apple stand out.
Policies of Starbucks:
- Expand its stores in the US and internationally by franchising/licensing.
- Designing stores that convey Starbucks image and brand.
- Expand product offerings beyond its retail stores& enter new markets.
Policies of Godrej Industries:
- Godrej industries aims to provide innovation and quality products.
- Commited not only to consumers but also society and environment.
- Excellent standards of ethical behaviour.
