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Answer:
The journal entry is shown below:
Explanation:
The journal entry for the sale of the goods using the system of perpetual inventory is shown below:
Cost of Goods sold A/c.............................Dr XXXX
Inventory A/c........................................Cr XXXX
Being record the sale using perpetual inventory system
Under the system of perpetual inventory, the sale or the purchase of inventory is recorded immediately using the point of sale system.
So, account of Cost of goods sold (COGS) is debited against the inventory which is sold through the business and that is credited.
The answer is D because 4 hours working on problems are 0 hours of reading
Answer:
It means that they have gone over your return and it has passed their initial inspection.
Explanation: Hope this helps:)
Answer:
The correct answer is $1,100,000.
Explanation:
According to the scenario, the given data are as follows:
Customer account = $300,000
Joint account = $500,000
Customer's wife account = $300,000
So, we can calculate the amount that customer receive under SIPC by using the following formula:
SIPC =
- Under SIPC each account considered as an individual account.
- A maximum limit cover of $500,000 for cash and security for each individual account.
So, the amount that can receive by customer is:
Total Amount = $300,000 + $500,000 + $300,000
= $1,100,000
Hence, the total amount that customer receive under SIPC is $1,100,000.
