I believe that this problem has the
following choices:
> a debit of $2,500 to
Merchandise Inventory.
> a credit of $2,500 to Sales.
> a debit of $1,900 to
Merchandise Inventory.
> a credit of $1,900 to Cost of
Goods Sold.
The correct answer from the choices
is:
<span>> a credit of $2,500 to Sales
</span>
<span> </span>
Answer:
Finance Learning Corporation
Explanation:
Answer:
c. The "apparent," but not necessarily the "true," financial position of a company whose sales are seasonal can change dramatically during a given year, depending on the time of year when the financial statements are constructed.
Explanation:
Financial statements are used to show the financial activity of a business within a given period.
One of the principles of a accounting is periodicity. This requires businesses to report their financial position at regular intervals consistently, and not in an inconsistent manner. So if a business reports their finances twice a year. At year end and at mid year, it is possible that at mid year due to seasonal sales performance will be high and business is perceived to be highly profitable.
But financial report at end of year in the off-season will show low performance.
So for seasonal businesses there can be apparent view of a business during the year that can change dramatically because of time at which reports are made.
Answer:
2no I think you are confused so
Answer:
$74.61
Explanation:
The computation of the value of preferred stock is shown below:
Value of preferred stock = Annual dividend ÷ return of preferred stock per share
= 10.40% × 100 ÷ 13.94%
= $74.61
Simply we divide the annual dividend by the value of preferred stock per share so that the correct value of preferred stock can be computed
