1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
olga55 [171]
3 years ago
12

The journal entry for the purchase of inventory on account using the perpetual inventory system is

Business
1 answer:
alexandr1967 [171]3 years ago
5 0

Answer:

D. Merchandise Inventory xxx

Accounts Receivable xxx

Explanation:

The Journal Entry is shown below:-

Merchandise Inventory A/c Dr,         xxx

              To Accounts Payable     xxx

(Being purchase of inventory on account is recorded)

Therefore inventory is purchased so it will increasing assets, it is debited while accounts payable is increasing liabilities so it is credited.

You might be interested in
An investor has opened a jewellery store and a bakery shop in your village which is near the sea side. Do you consider the locat
almond37 [142]

Answer:

The bakery business is a good business for this location but the jewellery is not.

Explanation:

The bakery business is a good business for this location but the jewellery is not. This is because the vast majority of individuals in the area are most likely going to be people spending the day travelling and going to the beach or taking a walk on the boardwalk. Therefore, pasteries in the morning on a nice day or in the afternoon would be in demand in that area. However, jewellery probably will not be in high demand. The best place for a jewellery store is in the middle of the city where people go to shop, ideally a high income location.

7 0
3 years ago
All else equal, if there are diminishing returns, then which of the following is true if a country increases its capital by one
Romashka [77]

Answer:

A.

The output will rise by more than it did when the previous unit was added.

Explanation:

7 0
2 years ago
Twelve years ago, the Archer Corporation borrowed $6,200,000. Since then, cumulative inflation has been 80 percent (a compound r
miv72 [106K]

Answer:

(a) $3,444,444.44

(b) $11,160,000

Explanation:

(a) Effective purchasing power:

= Loan amount ÷ (1 + cumulative inflation rate)

= $6,200,000 ÷ (1 + 0.80)

= $6,200,000 ÷ 1.80

= $3,444,444.44

Therefore, the effective purchasing power of the $6,200,000 is $3,444,444.

(b) Lender should be repaid:

= Loan amount × (1 + cumulative inflation rate)

= $6,200,000 × (1 + 0.80)

= $6,200,000 × 1.80

= $11,160,000

7 0
3 years ago
An airport shuttle company forecasts the number of hours its drivers will work based on the distance to be driven (in miles) and
siniylev [52]

Answer:

5.5 Hours

Explanation:

The main difference among both the drivers is the number of jobs and the difference of working hours can only be determined by adding number of jobs.  Sofia has two more jobs compared to victor. Following is the method to calculate the working hours:

4+0.75(2)=5.5 hours

Sofia is expected to work for 5.5 hours

3 0
3 years ago
A blue ocean strategy is when a company:
Jlenok [28]

Answer:

c. redefines the product offering through value innovation to create a new market space

Explanation:

Is the concurrent tracking of differential and low cost in order to open up markets as well as get new demands. It is about bringing new market into existence and dominating unchallenged market space there by nullifying unnecessary competition. Blue ocean strategy has the view that market boundaries and industries can be rebuilt by the activities of the major industry players.

6 0
4 years ago
Other questions:
  • Bonnie claims single with 2 federal withholding allowances, and contributes state tax of 20% of her federal tax. Below is a copy
    13·2 answers
  • Simon, a trainer, meets with his team to discuss the possibility of senior engineers training the new engineers. He also meets w
    13·1 answer
  • In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following ord
    13·1 answer
  • All of the following components are commonly found in rental housing agreements EXCEPT:
    12·2 answers
  • Suppose that an installment plan calls for five payments to be made. The total paid in this plan is 20% more than the price woul
    10·1 answer
  • Chick 'N Fish is considering two different capital structures. The first option is an all-equity firm with22,500 shares of stock
    8·2 answers
  • Russell, an entrepreneur, wants to hire a human resource professional who can help him make decisions about who will or will not
    5·2 answers
  • Sky High Company has two​ departments, X and Y. The following estimates are for the coming​ year: X Y Direct manufacturing labor
    15·1 answer
  • A security with only diversifiable risk has an expected return that exceeds the riskfree rate of return
    7·1 answer
  • Cash advance and title pawning are needed services but should be used with caution.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!