Answer:
The correct answer is $543,000
Explanation:
According to the given scenario, the calculation of the ending inventory is as follows:
= Inventory on hand + merchandise purchased F.O.B shipping point + F.O.B destination
= $350,000 + $118,000 + $75,000
= $543,000
The goods held on consignment i.e. not involved is not relevant
Thus, the calculation of the ending inventory is $543,000
They will save more and plus it will be there car property
Answer:
The correct answer is <em>(A) how</em>.
Explanation:
The news headline "Consultants replacing high school counselors" deals with the how question(s) of economics.
Given the structure of the sentence, the most appropriate word in this sentence is how.
Consultant is the professional who dominates a specific topic and uses his knowledge to help other people.
Answer:
$302,500
Explanation:
The computation of total amount of product costs is shown below:-
Product cost for 11,000 units = Direct material + Direct labor + Manufacturing overhead cost incurred
= ($7.30 + $3.90 + $2.20 + $14.10) × 11,000
= $27.50 × 11,000
= $302,500
Therefore for computing the total amount of product costs we simply applied the above formula.
The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be (D)
Jan. 1 Inventory 1,500
Cash 1,500
<h3>
What are journal entries?</h3>
- A journal entry is an act of keeping or producing records of any economic or non-economic transaction.
- An accounting journal, which shows a company's debit and credit balances, records transactions.
- The journal entry can be made up of multiple records, each of which is either a debit or a credit.
- Otherwise, the journal entry is termed unbalanced if the sum of the debits does not equal the total of the credits.
Inventory purchase journal entry:
- Say you purchase $1,000 worth of inventory on credit.
- Debit your Inventory account $1,000 to increase it.
- Then, credit your Accounts Payable account to show that you owe $1,000.
- Because your Cash account is also an asset, the credit decreases the account.
Therefore, the journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be (D)
Jan. 1 Inventory 1,500
Cash 1,500
Know more about journal entries here:
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The question you are looking for is here:
The journal entry to record the receipt of inventory purchased for cash in a perpetual inventory system would be
(A) Jan. 1 cash 1,500
Account receivables 1,500
(B) Jan. 1 Purchases 1,500
Account payable 1,500
(C) Jan. 1 Inventory 1,500
Office Supplies 1,500
(D) Jan. 1 Inventory 1,500
Cash 1,500