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anzhelika [568]
3 years ago
8

Toys R Fun purchased $4,000 of merchandise for resale and paid immediately. To record this transaction, Toys R Fun's accountant

would debit the __________ account and credit the _________ account.
Business
1 answer:
mojhsa [17]3 years ago
8 0

Answer:

Debit Merchandise Inventory and Credit Cash

Explanation:

You made a purchase of merchandise that was paid now so that would increase your merchandise inventory.  Cash is credited because you paid them cash and you cash account decreased.

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Suppose your firm receives a million order on the last day of the year. You fill the order with million worth of inventory. The
s344n2d4d5 [400]

Answer:

a. Revenues - These will increase by $5 million to represent the entire value of the order.

b. Earnings. - Increase by $3 million

Earnings in this case are revenue less the cost of inventory which will be;

= 5 - 2

= $3 million

c. Receivables - Increase by $4 million

The customer paid $1 million upfront which means that they still owe $4 million out of the $5 million. This will go to the receivables account to show that the customer owes the business.

5 0
3 years ago
In many of the examples of specialization and trade it sometimes seems that one country is?
Y_Kistochka [10]

In many of the examples of specialization and trade it sometimes seems that one country is?

It is getting favored more ideal arrangement over another, but we have near the no experience with the overall thriving created by the trade or prosperity produced by the exchange.

Specialization is a technique for creation by which an element centre around the development of a restricted extent of merchandise to acquire a more prominent level of effectiveness. Numerous nations, for instance, spend significant time in creating the labor and products that are local to their region of the planet, and they exchange them for different labor and products.

To learn more about specialization enable countries to trade with one to another country

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#SPJ4

6 0
1 year ago
A price weighted index is composed of 3 stocks. Stocks A, B, and C are trading for $100, $56 and $32 respectively. The number of
gogolik [260]

Answer:

The total value will not change.

Explanation:

Stock split occurs when a stock is divided into parts. The value of each stock will decline but there will be more stocks and overall value will remains same. If stock A goes through a stock split then the new price per stock will decline but the overall value to the investor will remain same.

7 0
3 years ago
Last year, Michelson Manufacturing reported $10,250 of sales, $3,500 of operating costs other than depreciation, and $1,250 of d
svet-max [94.6K]

Answer:

c. -$435.00

The answer and procedures of the exercise are attached in a microsoft excel document.

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

6 0
3 years ago
If the USA could produce 1 ton of potatoes or 0.5 tons of wheat per worker per year, while Ireland could produce 3 tons of potat
Anuta_ua [19.1K]

Answer:

A. The USA specializes in potatoes because of its comparative advantage in producing potatoes.

Explanation:

US         1 ton of potatoes or 0.5 tons of wheat = 2

Ireland  3 tons of potatoes or 2 tons of wheat = 1,5

8 0
3 years ago
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