Answer:
b. A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800
Explanation:
Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; terms 1/15, n/30; dated June 25; FOB San Francisco, freight prepaid and added to the invoice, $1,800 (total $21,800).
The following journal entries records this purchase transaction: A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800
<u>The reason is that with a perpetual inventory system, transportation costs are added directly to the inventory balance</u>
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Answer:
Option (B) is correct.
Explanation:
The firms uses the marginal analysis of the goods for making decision about the production.
Marginal analysis refers to the analysis of the costs and benefits that are associated with the additional goods produced. The firm can compare the additional benefit with the additional cost that is associated with the production of additional goods.
Firms using this method for making decisions which increases their potential profits.
Explanation:
a) A free market would allow the laws of demand and supply to flourish; prices of commodities will be set by manufacturers based on demand. However, Government regulations which interfere with the free market is going to result in feeling the pain of monopoly.
b) Indeed, the price mechanism when controlled by the government can result in efficient provision of public goods.
One such example of a public good ls PMS (premium motor spirit) used as petrol in most vehicles. Controlling the price of petrol by the government in most cases helps avoid excessive charges from petrol stations per pump price.
One upside to terminating a project that is not going as well as planned is that the poorly performing project team members will be kept from causing trouble elsewhere.
Project Termination, also known as "project close-out" or "project finalization," is the process of closing or concluding a project when there is no longer a need for it or any reason to continue. If the client or end-user accepts the project's results and the project has completed its scope, the project has terminated. External developments like a market crisis, technological advancements, etc. have surpassed the project. The project's objective was not met. The final stage of concluding all project management process activities is called project closure (Project, phase, contract). The main advantages of this process are the archiving of project or phase information, completion of planned work, and freeing up of organizational team resources for new projects.
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