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Wewaii [24]
3 years ago
11

Suppose​ Dave's Discount's Merchandise Inventory account showed a balance of​ $8,000 before the​ year-end adjustments. The physi

cal count of goods on hand totaled​ $7,400. Dave uses a perpetual inventory system. To adjust the​ accounts, which entry would the company​ make?
Business
1 answer:
bagirrra123 [75]3 years ago
3 0

Answer:

Db Cost of Goods Sold_____600

Cr Merchandise Inventory ______600

Explanation:

A perpetual inventory system has the advantages of both providing up-to-date inventory balance information and requiring a reduced level of physical inventory counts. However, the calculated inventory levels derived by a perpetual inventory system may gradually diverge from actual inventory levels, due to unrecorded transactions or theft, so you should periodically compare book balances to actual on-hand quantities (typically using cycle counting) and adjust the book balances as necessary.

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At December 31, Idaho Company had the following ending account balances:
telo118 [61]

Answer:

Balance of Stockholder's Equity at December 31 is $1,910,000.

Explanation:

This will appear as follows

Idaho Company

<u>Details                                                                         $      </u>

Stockholder's Equity:

Common Stock                                                       525,000

Preferred Stock                                                      500,000

Additional Paid-In Cap. - Common Stock             625,000

Additional Paid-In Cap. - Preferred Stock              50,000

Treasury Stock                                                        (40,000 )

Retained Earnings                                                <u>  250,000  </u>

Balance at December 31                                    <u>   1,910,000  </u>

5 0
3 years ago
Which of the following government offices help individuals fund their college education?
Doss [256]
D. office of student federal aid
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From an economic point of view, which approach to controlling pollution is most efficient?
Elenna [48]

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B. Reduce pollution as long as the additional benefits are greater than the additional costs.

Explanation:

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What happens to each company's net income if sales increase by 20%?
Tju [1.3M]
The company's net income will grow higher if it increases by 20% and then it will just keep getting higher and higher. Hope this helped, have a great day! :D
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Which one of the following is not a primary component of an internal control system?
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The following is not a primary component of an internal control system <u>Control environment .</u>

<u />

The primary cause of inner controls is to assist safeguard an corporation and further its objectives. internal controls characteristic to limit risks and shield property, make certain accuracy of facts, sell operational efficiency, and inspire adherence to policies, rules, regulations, and legal guidelines.

Internal controls are techniques designed to help guard an enterprise and limit danger to its objectives. inner controls decrease risks and guard belongings, ensure accuracy of statistics, sell operational performance, and encourage adherence to policies, policies, policies, and laws.

Determining whether a specific internal manage machine is effective is a judgement because of an assessment of whether the five additives - manage surroundings, risk assessment, manage sports, information and communique, and tracking - are present and functioning.

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