Answer and Explanation:
The journal entries are as follows;
a. On Jan 1
No journal entry is required
b. On Feb 5
Contra asset Dr $1,320
To Sales revenue $1,320
(being sales revenue is recorded)
Cost of goods sold Dr $670
To Inventory $670
(being cost of goods sold is recorded)
c. On Feb 25
Cash $3,300
Contra asset Dr $1,320
To Sales revenue $1,980
(being sales revenue is recorded)
Cost of goods sold Dr $300
To Inventory $300
(being cost of goods sold is recorded)
That statement is true
A stated interest rate is the return of investment that is not compounded by the interest accumulation throughout the years.
In general, a stated interest rate will give us a lower amount of return compared to effective annual interest rate that compound the accumulation throughout the years,
Answer 1) Option B) Shift to the right.
Explanation : If the amount of land available to the company increases, the PPC will shift to the right. As the graph indicates, the PPC will grow by shifting on right side as the company is acquiring more land for building purpose.
Answer 2) Option C) Remain Unchanged.
Explanation : The company realizes it cannot construct any buildings on a portion of the land because it is at risk of a cave-in.
In this case, the PPC will remain unchanged. When the company realizes that no construction can be done on the portion of land because of its hollowness the PPC will remain to be undisturbed.
Answer:
A.Earns net income by buying and selling merchandise.
Explanation:
Merchandiser is a organization or individual which supplies and promotes products to the consumers. Merchandisers buy the merchandise from manufacturer and display it on their place to sale it. The Net value of Purchase price and Selling price is their return. So, They earn the net income from buying and selling of product.
