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Novosadov [1.4K]
3 years ago
14

Badger Enterprises purchased aluminum from JG Metals. When Badger Enterprises recorded this transaction, they made entries into

three accounts: Purchases, Freight Costs, and Purchase Discounts. Based on this, what type of inventory system does Badger Enterprises use?
Business
2 answers:
Norma-Jean [14]3 years ago
6 0

ANSWER: Perpetual Inventory System

EXPLANATION: Badger Enterprises use Perpetual Inventory System to record their accounts. Perpetual Inventory System is a technique or system of recording accounting by a company where the inventory is maintained constantly as and when it changes. All the transactions of the inventory are maintained anytime it increases or decreases. Usually, companies have computerized system including bar-coding of individual items in the inventory.

Leya [2.2K]3 years ago
4 0
Perpetual inventory system - is the type of inventory system Badger Enterprise uses. A perpetual inventory system is when companies keep track of each individual purchase and sale of inventory continuously. If they use a periodic inventory system, they will do it periodically, or over a given point in time. 
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Which of the following, if true, would most weaken the argument that Fony Corp. should upgrade its technology?A) Employees fear
jarptica [38.1K]

Answer: E - The technology which the company is considering adopting was recently developed and has not yet been successfully implemented in a real business context.

Explanation: the company would be able to recover the cost of adoption of the new technology . This strengthens the argument that the upgrade should take place.

The new technology would improve cost of production and efficiency. This strengthens the argument that the upgrade takes place.

Because the upgrade hasn't been successfully tested, it might have an unintended negative impact which would erode all the benefits of the upgrade

4 0
3 years ago
Following are Nintendo's revenue and expense accounts for a recent calendar year.Net sales ¥ 1,014,345 Cost of sales 626,379 Adv
elena-14-01-66 [18.8K]

Answer: These transactions can be journalized as follows :-

Explanation: Since the entries are closing entries these would be recorded at year end :-

Dec 31.  Sales a/c Dr  ¥ 1,014,345

                 To income a/c ¥ 1,014,345

         (Being revenue account closed)

Dec 31.  Income a/c Dr  ¥ 936,724

                 To cost of sales a/c  ¥626,379

                 To advertising expense a/c ¥ 96,359

                 To other expense a/c  ¥213,986

         (Being expenses account closed)

Dec 31.  Income a/c Dr  ¥77,621

                  To retained earnings ¥77,621

          (Being excess income transferred)

4 0
2 years ago
Partners Dennis and Lilly have decided to liquidate their business. The following information is available:
fgiga [73]

Answer:

Partners Dennis and Lilly have decided to liquidate their business. The following information is available:

Cash $100,000 Accounts Payable $100,000

Inventory $200,000 Dennis, Capital $120,000

Lilly, Capital $80,000

$300,000 $300,000

Dennis and Lilly share profits and losses in a 3:2 ratio. During the first month of liquidation, half the inventory is sold for $60,000, and $60,000 of the accounts payable is paid. During the second month, the rest of the inventory is sold for $45,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.

1. Using a safe payments schedule, how much cash will be distributed to Dennis at the end of the first month?

a. $36,000

b. $64,000

c. $60,000

d. $24,000

2. Using a safe payments schedule, how much cash will be distributed to Lilly at the end of the first month?

a. $40,000

b. $24,000

c. $64,000

d. $16,000

4 0
3 years ago
TB MC Qu. 1-150 Haack Inc. is a merchandising company ... Haack Inc. is a merchandising company. Last month the company's cost o
Sever21 [200]

Answer:

$87,200

Explanation:

The computation of the total amount of merchandise purchase is shown below:

As we know that

Cost of goods sold = Beginning merchandise inventory + purchase of merchandise - ending merchandise inventory

$69,400 = $11,600 +  purchase of merchandise - $29,400

$69,400 = -$17,800 + purchase of merchandise

So, purchase value of merchandise is

= $69,400 + $17,800

= $87,200

5 0
3 years ago
Within the relevant range of activity ______. variable costs do not change in total, only per unit fixed costs remain constant i
Vlad1618 [11]

Answer:

False

Explanation:

Within the relevant range of activities, total fixed costs remain constant and fixed costs per unit decrease as total output increases. Total variable costs vary depending on total output, but variable costs per unit should remain constant.

On a long term basis, all costs are variable, that is why it is important to consider the range of activities, i.e. output levels.

6 0
3 years ago
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