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iVinArrow [24]
2 years ago
15

Foote Company was granted a purchase discount of $200 on merchandise the company had purchased a few days ago. Foote uses the pe

rpetual inventory system. Which of the following reflects the effects of this event on the financial statements? Asset = Liab. + Stk. Equity Rev. - Exp. = Net Inc. Stmt of Cash Flows A. NA (200) 200 200 NA NA 200 OA B. NA (200) 200 200 NA 200 NA C. (200) (200) NA NA NA NA (200) OA D. (200) (200) NA NA NA NA NA
Business
1 answer:
Rina8888 [55]2 years ago
6 0

Answer: D. (200) (200) NA NA NA NA NA

Explanation:

Discount on merchandise decreases the value of Assets (merchandise) and also decreases Liability (Trade Payable) if the merchandise was purchased on credit

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Management is considering replacing its blending equipment. The annual costs of operating the old equipment are $250,000. The an
e-lub [12.9K]

Answer:

$250,000

Explanation:

Since the purchase cost of an old equipment is already incurred and it does not have any kind of impact in decision making so this cost would be considered as the sunk cost i.e. $250,000

The operating cost of old & new equipment would be relevant for calculating the annual cost savings and the current selling value of the old equipment would also be relevant as salvage value

Therefore $250,000 would be considered  

5 0
2 years ago
Which of the following is a challenge faced by developing nations? A. Growing population B. Declining population C. Lack of effo
DedPeter [7]
A growing population
7 0
3 years ago
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In the summer, ben often jogs during the middle of the day. when he exercises in these conditions, he sweats heavily. the recomm
stira [4]
In order for Ben to maintain his fluid balance, he should take huge amounts of liquid, and the best liquid that he should take is water. He should take and drink water when jogging, in order to keep himself hydrated as he sweats a lot and when he does not consume water with this behavior, he would likely be dehydrated as he loses the balance of maintaining liquid in his body.
3 0
3 years ago
Some economists believe that permanently lower marginal income tax rates __________ the incentive to work and thus shift the ___
gtnhenbr [62]

Answer:

The answer is "increase; LRAS curve to the right".

Explanation:

The curve LRAS represents the flow between all the level of wages and economic GDP supplied because all prices are fully flexible, also with nominal salaries; its cost may change all along LRAS, however, the output cannot, as it represents the complete output of workers, that's why the several economists say that lower marginal rate consistently increases the motivation to work, shifting the LRAS curve to the left.

6 0
2 years ago
the cumulative difference between reporting inventory at lifo rather than fifo is commonly referred to as the
UkoKoshka [18]

The cumulative difference between reporting inventory at LIFO rather than FIFO is commonly referred to as the LIFO reserve

<h3>What is LIFO reserve?</h3>

Generally, LIFO reserve is an accounting term that represents the difference between the cost of inventory calculated using the first-in, first-out (FIFO) method and the cost calculated using the last-in, first-out (LIFO) method for the purposes of bookkeeping.

In conclusion, The LIFO reserve is a term that is widely used to refer to the accumulated discrepancy that results from reporting inventory using the LIFO method rather than the FIFO method.

Read more about LIFO reserve

at brainly.com/question/28146683

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1 year ago
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