Answer:
D
Explanation:
B and C dont make sense A is that you can never run out of things in stock
Answer:
D
Explanation:
The cost of goods sold would increase by $2
Answer:
3) debit to Cash for $348.
Explanation:
The complete journal entries should be:
Dr Cash account 348
Cr Sales Revenue account 320
Cr Sales Taxes Payable account 28
Cash is an asset account and it increases, so it should be debited.
Sales revenue is a revenue account and it increases, so it should be credited.
Sales taxes payable is a liability and it increases, so it should be credited.
<span>B. A felt layer underneath the tablecloth i hope this help you</span>
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
The following two errors were made in the physical inventory counts: 1. 2018 ending inventory was understated by $8,000. 2. 2019 ending inventory was overstated by $4,000.
We were not provided with the relevant information to recalculate the cost of goods sold, but, I can provide the formula to solve the problem.
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
1- COGS= beginning finished inventory + cost of goods manufactured - (ending finished inventory + 8,000)
2- COGS= beginning finished inventory + cost of goods manufactured - (ending finished inventory - 4,000)
