Answer: increase asset
Explanation:
Cash basis accounting is an accounting method that is used to records revenue as at the point that the cash is received. Also, the expenses are recorded when expenses are paid in cash.
From the question, we are informed that a corporation received $550 from a customer as a deposit and the company uses cash basis accounting. The effect of this transaction is to increase assets.
Answer:
$101969.7
Explanation:
Beginning inventory = $190,000
Total sales = $500,000
Purchases = $215,000
Goods available for sale = Beginning inventory + purchases = $(190,000 + 215,000) = $405,000
Cost of goods sold = 500,000 / (100 + markup) %
500,000 / 165% = 303030.30
Goods available for sale - Cost of goods sold =
$405,000 - $303030.30 = $101969.7
B would be the answer well thats what my teacher and parents told me any way
In preparing for a career in personal selling, a person
should begin with having to build of developing a personal philosophy and as
well as a set of beliefs that will provide guidance to one’s self. These two
are important in order to know what a person’s purpose and to set goals that
would be appropriate for the person to work on in order to know what must be
done and what he or she thinks or believes what is right.