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anzhelika [568]
3 years ago
8

Novak Corp. had the following account balances at year-end: Cost of Goods Sold $61,200; Inventory $14,550; Operating Expenses $2

9,960; Sales Revenue $120,310; Sales Discounts $1,080; and Sales Returns and Allowances $1,750. A physical count of inventory determines that merchandise inventory on hand is $12,180.
Prepare the adjusting entry necessary as a result of the physical count.
Business
1 answer:
olya-2409 [2.1K]3 years ago
8 0

Answer:

Journal entry

Explanation:

The adjusting entry for the physical count is as follows          

Cost of goods sold $2,370

       To Inventory $2,370

(Being the adjusted balance is recorded)

The computation is shown below:

= Year end Inventory - physical count of inventory

= $14,550 - $12,180

= $2,370

We simply deducted the physical count of inventory from the year end inventory to find out the adjusted balance which is shown above

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Under a program called the Emissions Trading​ Scheme, the governments of European Union member nations establish overall targets
Sholpan [36]

Answer:

allowances; allowances; reducing.

Explanation:

Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.

Offset trading refers to a type of trading system that is typically designed for the realization of more efficient pollution control.

Additionally, a free market in tradable pollution permits simply means giving manufacturing companies and individuals the legal right to pollution of the environment. For example, ABC company is purchasing the permit of 500 units of carbon dioxide (CO2) pollution annually, this simply means it is permitted to pollute the environment by 500 units of CO2 annually.

Furthermore, a free market in tradable pollution permits has some sort of benefits as companies can resell their unused permits or devise a cheaper means of reducing pollution. It also compensate companies that significantly reduces its pollution of the environment.

Hence, a government could issue allowances or permits to companies, thereby, giving them the permission and authority to emit certain amounts of pollutants. In​ theory, an increase in the market clearing price of​ allowances should stimulate the business firms to develop effective and efficient methods of​ mitigating their emissions of greenhouse gases (pollutants) such as methane, water vapor, carbon dioxide, etc.

3 0
3 years ago
What is the primary goal of financial management for a sole proprietorship? maximize net income given the current resources of t
Ludmilka [50]

A sole proprietorship has the single owner of the business and the main goal of the owner is to increase the value of his capital invested in the business which is also called as Equity.  

The objective of maximization include the maximization of net income given the current resources of the firm  

A proprietorship has only one owner so there is no need to decrease long-term debt to reduce the risk to the owner.  

The proprietor wants to earn more income and he will have to pay more taxes so the goal is not to minimize the tax impact on the proprietor.  

Similarly, the goal is also not to minimize the reliance on fixed costs.

Hence the correct answer is:

Maximize the market value of the equity  


4 0
3 years ago
There are four basic principles of finance. Which principle correctly describes the following​ statement: ​ "A dollar today is w
Mekhanik [1.2K]

Answer:

Time value of money

Explanation:

The ability of money kept in a savings deposit to earn interest over time and the increase in the total interest in line with the length of time, brought us to a conclusion that <em>an amount of money to be received now, that is in the present, is worth more than the same amount if received in the future.</em>

The increase in the value of money as a result of interest earned on it, increases the value of money, this concept is what is referred to time value of money.

8 0
3 years ago
Need Help ASAP
butalik [34]

Answer:

I. Never stand still

2. Do more than is Required of you

3. Think as a team Member, Not an Employee

4 Speak up and share your ideas

5 Fake it till you make it

6. Consider every opportunity

7. Always be prepared

8. Be Self-Pronotional

Explanation:

Hope this helps! Tell me if I'm wrong. If thai Helps Give me brainly.

5 0
3 years ago
Excerpt from Areojet Corporation records for month of February: Per Unit Per Month Selling price $ 200,000 Direct materials used
EastWind [94]

Answer:

Work in process= $192,000

Explanation:

Giving the following information:

Direct materials used in production 40,000

Direct labor 10,000

Variable manufacturing overhead 2,000

Fixed manufacturing overhead $ 140,000

<u>The absorption costing method includes all costs related to production, both fixed and variable</u>. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Work in process= 40,000 + 10,000 + 2,000 + 140,000

Work in process= $192,000

7 0
3 years ago
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