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3 years ago

Which of the following is a characteristic of a perpetual inventory system?

Business

1 answer:

Darina [25.2K]3 years ago

4 0

Answer:

c. Cost of goods sold is recorded with each sale.

Explanation:

In the perpetual inventory system, the inventory is recorded. It helps to keep the inventory records during the particular period.

The examples are purchase, purchase return, sales and sales return and sales discounts and purchase discounts

After each transaction, the inventory and the costs of goods sold are updated after each sale

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5. The time required and costs involved in an external audit are much higher as compared to internal audits.

harina [27]

Answer:

True

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3 years ago

john chapelle wants to know if his video store customers are interested in a selection of classic, black and white movies. how c

jeka57 [31]

It is important to keep the questionnaire really short, probably just one good question or a checkbox list would suffice. Hand out the questionnaire once they buy or rent the cds/dvds at the counter. They shall answer it out while you process the receipt and give change. This should come around smoothly and won't be much of a hassle for the customer.

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3 years ago

An investor has two bonds in her portfolio, Bond C and Bond Z. Each bond matures in 4 years, has a face value of $1,000, and has

aliya0001 [1]

Answer:

Years to maturity Price of Bond C Price of Bond Z

4 $1,084.42 $711.03

3 $1,065.93 $774.31

2 $1,045.80 $843.23

1 $1,023.88 $918.27

Explanation:

Note: See the attached excel for the calculations of the prices of Bond C and Bond Z.

The price of each bond of the bond can be calculated using the following excel function:

Bond price = -PV(rate, NPER, PMT, FV) ........... (1)

Where;

rate = Yield to maturity of each of the bonds

NPER = Years to maturity

PMT = Payment = Coupon rate * Face value

FV = Face value

Substituting all the relevant values into equation (1) for each of the Years to Maturity and inputting them into relevant cells in the attached excel sheet, we have:

Years to maturity Price of Bond C Price of Bond Z

4 $1,084.42 $711.03

3 $1,065.93 $774.31

2 $1,045.80 $843.23

1 $1,023.88 $918.27

Download xlsx

4 0

3 years ago

Carlos Ramirez and Camila Garza organized New World Book Store as a corporation; each contributed $70,900 cash to start the busi

kvasek [131]

Answer:

Net Income = $28,070

Explanation:

As for the provided details:

Balances as on December 31, 2014

Cash = $70,050

Accounts Receivables = $40,000

Inventory = $77,000

Total Assets = $187,050

Accounts Payable = $13,600

Note Payable = $3,400

Interest payable = $180

Total Liabilities = $17,180

Common Stock = $70,900 + $70,900 = $141,800

Retained earnings = $28,070

Total Stockholder's Equity = $169,870

Total of Equity and Liabilities = $187,050

Now, since it is the first year of operations, the balance of retained earnings in beginning = $0.

Also no dividend is paid, therefore, net income for the year shall be

Opening Retained Earnings + Net Income - Dividend = Closing Retained Earnings

$0 + Net Income - $0 = $28,070

Thus, Net Income = $28,070

5 0

3 years ago

What is laissez faire?

Masja [62]

The correct answer is D.

7 0

3 years ago

Read 2 more answers