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BARSIC [14]
3 years ago
8

Littleton Books has the following transactions during May. May 2 Purchases books on account from Readers Wholesale for $3,600, t

erms 1/10, n/30. May 3 Pays cash for freight costs of $230 on books purchased from Readers. May 5 Returns books with a cost of $300 to Readers because part of the order is incorrect. May 10 Pays the full amount due to Readers. May 30 Sells all books purchased on May 2 (less those returned on May 5) for $4,300 on account. Required: Record the period-end adjustment to cost of goods sold on May 31, assuming the company has no beginning or ending inventory
Business
1 answer:
myrzilka [38]3 years ago
4 0

Answer:

A periodic inventory method is a method where the inventory account is adjusted at the end of each accounting period and not continuously as with the perpetual method. All inventory purchased is recorded to a purchases account. Cost of goods sold is calculated by adding purchases to beginning inventory and then subtracting ending inventory. The following journal entries are examples of how to account for inventory under a periodic management method.

explanation:

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DRM is a collection of techniques that control uses of intellectual property in digital formats and includes hardware and softwa
jolli1 [7]

Answer:

Option b: Digital Rights Management

Explanation:

Digital Rights Management (DRM) are simply set of technologies that powers or control the access and use of digital works. Usually, the technology is in form of some sort of digital code. It is the application of control technologies to reduce digital media usage.

4 0
2 years ago
Which of the following is an example of the legal/regulatory environment surrounding advertising and promotional activities of b
hjlf

Answer:

the Federal Trade Commission

Explanation:

Federal Trade Commission - This commission was established in 1914 with the aim to improve the competition practice in commerce. As the year passed, some amendments have done in the commission, now authority can police illegal competition practice.

it helps the customers in filing cases against any fraud,  theft or any unfair practice against them.

8 0
3 years ago
James purchased liability insurance with a $100,000 limit from insurer A. To add more coverage, he bought a second liability pol
padilas [110]

Answer:A. $24,000

B. 36,000

Explanation:

The loss incurred by James is less than his coverage with each of the insurer.

The sum is apportioned on pro rata basis on the ratio of total insured.

$100,000 + $150,000=$250,000

A share is $100,000/$250,000/* $60,000

A= $24,000

B= $100,000/$250,000*$60,000

= $36,000

8 0
3 years ago
Jean works for Fahrenheit Publishing which is a publisher of scientific journals. The company is dominated by low risk taking an
Alexxx [7]

Answer:

C) Jean's department has developed a subculture

Explanation:

Based on the information provided within the question it can be said that Jean's department has developed a subculture. This refers to a culture within a larger culture. Which seems to be the case since the company itself focuses solely on low risk taking and high attention to detail. While Jean's department focuses mainly on high team orientation including working together and socializing through various activities.

8 0
3 years ago
Economic efficiency is
Marina CMI [18]

Answer:

The correct answer is option A.

Explanation:

A market outcome will be considered economically efficient if the marginal benefit earned from the last unit is equal to the marginal cost incurred in the production of the last unit while the economic surplus or the sum of consumer surplus and producer surplus is at maximum.

If the marginal cost and benefit are not equal then the outcome is said to inefficient. It means that either the resources are not being allocated efficiently or the production is not efficient.

6 0
3 years ago
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