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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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Bold Stapler Sales Company (BSS) began 2019 with cash of $80,000, inventory of $7,200 (400 staplers that cost $18 each), $2,000
viva [34]

Answer:

Bold Stapler Sales Company (BSS)

                                     FIFO             LIFO           Weighted Average

Ending inventory       $4,500         $3,240                 $4,122

Cost of goods sold $96,300      $97,560              $96,678

Explanation:

a) Data and Calculations:

Beginning balances in 2019:

Cash $80,000

Inventory $7,200

Common stock $2,000

Retained earnings $2,000

Description                    Units   Unit Cost   Total

Beginning inventory        400      $18      $7,200

The first purchase        1,600      $21       33,600

The second purchase 2,400     $25       60,000

Goods available           4,400               $100,800

Sales of units              (4,220)    $45   $189,900

Ending inventory             180

FIFO:

Ending inventory = $4,500 ($25 * 180)

Cost of goods sold = $96,300 ($100,800 - $4,500)

LIFO:

Ending inventory = $3,240 ($18 * 180)

Cost of goods sold = $97,560 ($100,800 - $3,240)

Weighted Average:

Weighted average cost per unit = $22.91 ($100,800/4,400)

Ending inventory = $4,122 (22.91 * 180)

Cost of goods sold = $96,678 ($100,800 - $4,122)

8 0
3 years ago
Solving for dominant strategies and the Nash equilibrium
Svetach [21]

Question Completion:

Matrix payoff:

                                              Sharon

                                  Left              Right

Paolo     Left              8,  3             4,   4

              Right           5,  3             5,   4

Answer:

The only dominant strategy in this game is for ___Paolo______ to choose ____Right______.

The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses ____Right______ and Sharon chooses __ Right_____.

Explanation:

a) Paolo's dominant strategy is the strategy that always provides the greater utility to Paolo, no matter what Sharon's strategy is.  In this case, the dominant strategy for Paolo is to choose RIGHT always.

b) The Nash Equilibrium concept determines the optimal solution in a non-cooperative game in which each player (e.g. Paolo and Sharon) lacks any incentive to change their initial strategies. This implies that each player can achieve their desired outcomes by not deviating from their initial strategies since each player's strategy is optimal when considering the decisions of the other player.

3 0
3 years ago
Architects must consider the availability and cost of ________ when they plan their projects.
barxatty [35]

Answer:

the correct answer is Building materials

Explanation:

Architects must consider the availability and cost of Building materials when they plan their projects.

good luck

6 0
3 years ago
Complete the sentences to describe two different ways to rearrange slides in PowerPoint.
zimovet [89]

Answer:

In normal view, go to the slide deck.

Then, click and drag a slide thumbnail to a new position.

Or, in Slide Sorter View, drag and drop slides to a new location in the presentation.

7 0
2 years ago
Olympia Marketing has instituted new policies around misappropriation of assets, conflicts of interests, and kickbacks. Also wit
Alex787 [66]

Answer: Code of Ethics

Explanation: Code of Ethics is a term used to describe a set of guildlines,rules or princess put in place by Organisations to ensure that it's members are guided accordingly.

It is adopted mainly by professional Organisations such Medical Doctors, Pharmacists, Engineer etc

Generally code of Ethics can be classified into five categories which includes INTEGRITY, CONFIDENTIALITY, OBJECTIVITY, PROFESSIONAL COMPETENCE AND PROFESSIONAL CONDUCT.These actions by Olympia marketing through which it instituted new policies to guide its personnel is CODE OF ETHICS.

7 0
3 years ago
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