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Mashcka [7]
3 years ago
11

Under the perpetual inventory system, in addition to making the entry to record a sale, a company would debit Inventory and cred

it Cost of Goods Sold. debit Cost of Goods Sold and credit Purchases. debit Cost of Goods sold and credit Inventory. make no additional entry until the end of the peri
Business
1 answer:
marshall27 [118]3 years ago
5 0

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.

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You do an extensive survey and learn that 15 out of the 200 people surveyed like to eat out on Tuesdays. You then look only at t
Naily [24]

The family should be less likely to eat out on Tuesday as compared to the general population.

Given that,

  • Out of 200 people, 15 people should eat out on Tuesday.
  • Now only look 60 families out of this 10 should be preferred to eat out on Tuesday.

Based on the given information, we can conclude that the family should be less likely to eat out on Tuesday as compared to the general population.

Learn more about the population here: brainly.com/question/8696744

3 0
3 years ago
What is the term of shipping directly from the supplier to the end consumer rather than from the​ seller, saving both time and r
Citrus2011 [14]

The term which describes the shipping who directly supplies from the supplier to the end consumer rather than from the​ seller, saving both time and reshipping​ costs is "Drop Shipping."

<h3>What is drop shipping?</h3>

When a vendor creates a website & sells items that they do not maintain in stock, this practice is known as drop-shipping.

Some key features of drop shipping are-

  • A third party, such as a manufacturer, another store, or a wholesaler, receives an order from the seller and ships the products straight to the customer.
  • A rapidly spreading trend involves online middlemen who charge you more money by keeping the difference between both the wholesale and prices.
  • Although drop-shipping is not prohibited, there is a lot of potential for issues and abuse on the part of both customers and sellers.
  • Following an online purchase, the drop-shipping company sends the ordered item directly to the consumer.
  • It provides both big and small businesses with a way to source goods, earn some extra cash, and free up some storage space.

To know more about drop shipping, here

brainly.com/question/13959949

#SPJ4

7 0
1 year ago
The accountant for Main Street Jewelry Repair Services, Inc. forgot to make an adjusting entry for Depreciation Expense for the
charle [14.2K]

Answer:

C) Total assets are overstated.

Explanation:

The journal Entry for the Depreciation is as follows:

Dr. Depreciation Expense          xxx

Cr. Accumulated Depreciation   xxx

By missing this Journal entry the Accumulated depreciation account will be understated as we know that this is a contra asset account and this will net off the Long term assets. So, as a result the total asset will be overstated.

8 0
3 years ago
Assume that the uncovered interest parity condition holds. Also assume that the U.S. interest rate is greater than the U.K. inte
Andrei [34K]

Answer:

Assume that the uncovered interest parity condition holds. Also assume that the U.S. interest rate is greater than the U.K. interest rate. Given this information, we know that investors expect the pound to appreciate.

Explanation:

Considering the assumption that the uncovered interest parity condition holds and also that the interest rate in the U.S is greater than the U.K interest rate.

The above assumptions imply that there will be a depreciation in the dollar and an appreciation in the pound.

Therefore, investors would expect the pound to appreciate.

7 0
3 years ago
Suppose Lois usually buys two cups of coffee for two dollars each and one scone for two dollars each. If the price of scones fal
777dan777 [17]

Answer:

The correct answer is D. Real income effect.

Explanation:

Real income is defined as the monetary income of an individual, taking into account the effect of inflation. For example, if a person's nominal salary increases by 10% in one year, and inflation is 6% in that year, the actual income will have increased 4% in that year.

4 0
3 years ago
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