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Tems11 [23]
3 years ago
15

On which financial statements would you look to find the total costs of merchandise that remains and the total that has been sol

d? Select one: A. Statement of cash flows and balance sheet B. Balance sheet and income statement C. Balance sheet and statement of cash flows D. Statement of stockholders' equity and balance sheet
Business
1 answer:
lara [203]3 years ago
8 0

Answer:

The answer is B. Balance sheet and income statement

Explanation:

Merchandise is an inventory. It is bought and sold.

We can get the total cost of merchandise that were sold and remained in income statement.

In income statement, this can be gotten from cost of sales(cost of goods sold). This tells us the total amount of goods that were sold and the closing/ending inventory tells us the total cost of merchandise remaining.

And in the balance sheet, we can get it under current asset. The balance of inventory tells us how much of merchandise remaining at a period.

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Which of the following factors, by itself, requires a corporation to comply with the reporting requirements of the Securities Ex
Ludmilka [50]

Answer:

d.Shares listed on a national securities exchange.

Explanation:

The primary purpose of enacting the securities exchange act of 1934 was to regulate securities and transactions in the financial or money markets. The act ensures fairness in financial dealings, thereby creating investor confidence.

For it to achieve its objectives, the securities exchange act contains mandatory disclosure requirements that ensure investors have access to relevant and accurate information to make decisions. The disclosures have to be made at crucial times to aid in investment decisions. All companies listed in the stock exchange are required to abide by the requirements of the exchange act.

6 0
3 years ago
Described below are certain transactions of Pina Corporation. The company uses the periodic inventory system. 1. On February 2,
nadya68 [22]

Answer:

Question: From the details given, make all the journal entries necessary to record the transactions above using appropriate dates.

                                  Pina Corporation

                                   Journal Entries

Date                          Details                                    Debit               Credit

                                                                                    $                       $

February 2              Purchases                               62,034

                               Accounts Payable                                            62,034

Being credit purchase of goods at discount of 2%

February 26           Accounts Payable                   62,034

                               Purchase - Discount                  1,266

                               Cash                                                                 63,300  

Being payment made for goods purchased

April 1                      Vehicle                                      52,000

                                Cash                                                                   3,000

                                10% 1-year Note payable                                49,000

Being purchase of vehicle by part cash, part note-payable

May 1                       Cash                                            82,900

                                Note Payable - Discount             9,600

                                1-year Note payable                                         92,500

Being borrowing from bank

August 1                   Dividend                                     280,000

                                 Dividend Payable                                            280,000

Being dividend declared, not yet paid

September 10           Dividend Payable                      280,000

                                  Cash                                                                280,000

Being cash payment of dividend

Explanation:

a) 2/10, n/30 means that the buyer is to pay within 30 days but is entitled to 2% discount if the purchase is paid for in 10 days. Since Pina records at net amounts after cash discount

To record this purchase = 63,300 * 0.02 = 1,266

                                        = 63,300 - 1266 = $62,034

b) Since payment was made on 26th, it means the 10 day discount was not utilized hence Pina pays full price for the goods

3 0
3 years ago
A stability strategy is a grand strategy that involves little or no significant organizational change. For example, Love Forever
zloy xaker [14]

Answer:

The correct answer is True.

Explanation:

A stability strategy seeks to remain as long as possible in the maturity phase (or stability) of the company, reaping the fruits of the investments made. A survival strategy seeks to survive in a hostile environment, while retaining its market share.

In general, stability and survival strategies are defensive strategies, that is, strategies that seek to maintain the competitive position achieved by the company. This fact does not mean that the company cannot grow; in fact, on many occasions, to maintain market share growth is necessary (sustainable growth). In other cases, these strategies involve a decrease (organizational downsizing, outsourcing or outsourcing of activities).

These strategies are designed for the level of corporate strategy, although they can also be adopted for competitive or business strategies, as they allow the analysis for each business or activity to which the company is engaged.

4 0
3 years ago
Read 2 more answers
Which of the following best explains why online retail companies have an
tekilochka [14]

Answer is D.

Explanation: They have a larger number of potential customers because people anywhere can buy from them.

5 0
3 years ago
1. _______ is the process of setting up business units to do specialized tasks such as marketing and accounting. Organizational
Bogdan [553]

Answer:

Departmentalization

Explanation:

The departmentalization refer to the framework of the organization that involves various types of departments like finance, accounting, human resource, marketing, sales and services, etc

It is important to setting up each department so that the day to day task could be accomplished with the specified time and the company could achieve its organizational objectives

Therefore, as per the given situation, the most appropriate answer is departmentalization

5 0
3 years ago
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