Answer:
C. Finished Goods Inventory has decreased.
Explanation:
Cost of goods manufactured (COGM) increases when finished goods inventory is <em>produced</em>, while cost of goods sold (COGS) increases when finished goods inventory is <em>sold</em>. If COGS has been increasing faster than COGM has been increasing, the company has been selling more goods than it has been producing. Therefore, it must have sold goods from its surplus of finished goods inventory. Thus, finished goods inventory has decreased.
Explanation:
a.)
In terms of the cost principle, the cost of acquiring a plant asset involves all of the expenditures required to get this asset and also to get ready to serve it's purpose.
Cost is measurable by the cash amount paid for a transaction that has to do with money or the money equivalent paid when assets that are not cash are used as a means of payment.
the cash equivalent is the same as the fair market value of the assets that were given or received..
b )
the account title that expenditure should be debited
1. 5000 paid for land
2. 200 paid is for factory machine equipment
3. 850 paid for delivery truck is for equipment
4. 17500 paid for parking lot is for land improvement
5. 250 paid for companies name to be printed on truck is equipment
6. 8000 paid for installation is for equipment
7. 900 paid for insurance policy on truck is prepaid insurance
8. 75 paid as license fee is for license insurance
Answer:
Option (c) is correct.
Explanation:
Economics is the study of the choices that we have to make from the limited available resources. We know that the human wants are unlimited and the resources to satisfy these wants are limited. So, we have to use these scarce resources in a manner which gives the maximum utility from the resources. The scarce resources have to be rationally managed.
Answer: online is virtual (phone,site,ect) in person is face to face interaction
Explanation:
hope this helpeddddddd
Answer:
See below
Explanation:
a. Operating income statement for the year ended December 31, 2019
Net sales $645,000
Less: Cost of goods sold ($367,650)
Gross profit $277,350
Less: Expenses
Selling, general, administrative expenses ($142,100)
Other selling expenses ($14,600)
Advertising expense ($47,600)
Operating income $73,050
b.
Operating income $73,050
Less:
Income tax expense ($25,568)
Income from continuing operations before taxes $47,482
Loss from discontinued operations, net of savings $38,133 ($14,400)
Net income $33,082
