Answer:
Accounts receivable (Dr.) $1,075
Sales revenue (Cr.) $1,075
Cost of goods sold (Dr.) 800
Finished goods (Cr.) 800
where
Dr. = Debit
Cr. = Credit
Explanation:
The inventory account of a manufacturing firm has three sub-accounts: Raw materials, Work-in-process, and Finished goods. The goods purchased by the company were sold without any work done. It means that they were purchased in finished form, so, the company will record these goods in its finished goods inventory. When goods are sold, we have to record sales and receivable. AND on the same time, under perpetual inventory system, the cost of goods that are sold and inventory account are also adjusted to reflect the changes.
Answer:
Option B "functional strategy
" is the correct option.
Explanation:
- A functional approach or strategy is necessarily connected to operations and maintenance-level decision-making, also recognized as tactical changes.
- Those same tactical decisions were mostly applied to different operational departments such as business, research as well as development, human resources, warehousing, logistic support, amongst others.
And therefore this strategy demonstrates best the specific situation.
Answer:
Revenue Expenses in net income
Gain / losses in Other comprehensive income
Explanation:
Revenue and Expenses of an entity is reported in the net income section of income statement. the second section of income statement deals with unrealized gains / losses and any gain or losses from discontinuing operations as well. Net income also added to the other comprehensive income to calculate total net income or total comprehensive income.
Answer:
D)fraud
Explanation:
From the question, we are informed about Olive, the owner of Olive’s Orchard, contracts to sell its harvest to Pure Foods, Inc. Later Olive refuses to perform. Pure Foods files a suit to enforce the contract. Olive and Pure Foods are in a state that does not recognize the doctrine of unconscionability. To defend successfully against enforcement of the contract on similar grounds,. In this case, Olive might rely on traditional notions of a fraud. Fraud can be regarded as an act of deception which is intentional to deprive those that fall for it their legal right. It is activities that gives the perpetrator an unlawful gain or to deny a victim their right. It is carried out by people to get financial or personal gain in an unlawful manner. Some types of fraud that are common are are tax fraud, bankruptcy fraud. as well as credit card fraud,
