The
necessary adjusting entry to record inventory shortage would be:
“Cost of
Merchandise Sold debit $5,000; Merchandise Inventory credit $5,000.”
Cost of Merchandise
Sold is the cost of goods and services that correspond to sales made to
customers. In this case, we need to decrease ending inventory by the quantity
of these goods ($5,000) that either were shipped to customers or assigned as
being customer-owned under a certain agreement. Meanwhile, the merchandise inventory is the cost of goods on hand and is available for sale ($5,000).
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Answer:
Organizational
Explanation:
An organizational structure in one in which certain activities are aligned to achieve the ultimate goal of the organization. Here also Apple Inc. has arranged all similar types of set of machines together to get particular output product. The cost drivers in organizational composition can influence the output of a company.
Answer:
False
Explanation:
The strike price is used at the time of trading of the options, while on the other hand the option that could be exercised is when take place when there is a delivery of the stock. Basically it means that the stock that can be predicted value and it is set by the seller of the contract. Also it is to be termed as the convertible bonds, but it should be more used for the option trading
Therefore the given statement is false
I'm assuming single means non-married, in that case your max repayment would be $1,250
Answer:
$56,130
Explanation:
Calculation to determine what the amount of itemized deductions the Gibsons may claim for the year is
Stuart and Pamela Gibson
Casualty loss $17,430
[$53,200 – (10% × $357,700)]
Home mortgage interest 21,280
State tax 10,000
(18,000 income and 16,300 property
Limited to 10,000)
Charitable Contributions 28,700
Total itemized deductions $56,130
Therefore the amount of itemized deductions the Gibsons may claim for the year is $56,130
