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inysia [295]
3 years ago
7

If a perpetual inventory system is in use _____. a physical inventory count is not required because the Inventory account is upd

ated for each purchase and sale. a physical inventory count is not required because the Inventory account is updated every time a transaction or event occurs. a physical inventory count should be taken at least annually. a physical inventory count is required because the Inventory account is not updated when inventory is purchased or sold.
Business
1 answer:
marshall27 [118]3 years ago
6 0

Answer:  a physical inventory count should be taken at least annually

Explanation: That an inventory is perpetual does not discount the need for taking physical inventory at least once a year. This is important because it helps in the identification of shrinkage or shortages and to also test the accuracy of the perpetual records under use. Now, a perpetual inventory is a kind of inventory that tracks and records continuously, items as they are added to or subtracted from the inventory thus keeping it updated and aids in keeping the track of the cost of goods bought and sold.

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Ranger Company is constructing a building. Construction began on January 1 and was completed on December 31. Weighted average ac
astra-53 [7]

Answer:

$939,220

Explanation:

6400000 +12000000 = 18400000

we have to calculate the average interest on the general borrowing

= (10% of 6400000/ 18400000) + (11% of 12000000/18400000)

= 10% x 0.3478 + 11% x 0.65217

= 0.03478 + 0.0717

= 0.10648

= 10.65%

avoidable interest = (amount borrowed x percentage) + (expenditure-amount borrowed) x 10.65%

= 3200000*12% + (8,413,333-3200000)x10.65%

= 384000 + 555219.9

= $939,219.9

≈ $939,220

5 0
3 years ago
Exercise 4-8 (part level submission) plevin company ended its fiscal year on july 31, 2017. the company’s adjusted trial balance
Lostsunrise [7]

            Service Revenue.................................65000

            Rent Revenue..........................................6000

              To Income Summary.....................................................71000


             Income Summary..........................78900

                  To Depreciation Expense..............................................7000

                  To Salaries Expense.......................................................56400

                   To Utilitites Expense.........................................................15500

Retained Earnings.....................................................................7900

      To Income Summary...............................................................................7900

6 0
4 years ago
Read 2 more answers
Which of the following would affect an employee's net pay?
sdas [7]

Answer:

b. Claiming a different number of dependents and thereby reducing their income tax

Explanation:

Net pay is the money that an employee receives after all deductions from their gross pay. Net pay is the amount that gets into the employee's salary account. The net pay is affected by an increase or decrease in salary or an increase or decrease in deductions.

Claiming a different number of dependents reduces the amount of income tax withheld. The effect is a reduction in the total deductions. If deductions are reduced, the employee will have higher net pay. The other options do not increase or decrease gross pay or deductions.

6 0
3 years ago
Naomi is completing a residential loan application. on the application, she lists her assets and liabilities so that her net wor
Doss [256]

Naomi is completing a residential loan application. on the application, she lists her assets and liabilities so that her net worth can be determined The difference between a borrower's items of value and obligations.

The Borrowers is a children's fantasy novel by British author Mary Norton, published in 1952 by Dent. It's about a family of little people who live secretly within the walls and floors of their English home, 'borrowing' from big guys to make a living. and four sequels after the same family left "their" home.

The Borrowers won the Library Association's Carnegie Medal in 1952 for outstanding children's books by a British author. At the medal's 70th anniversary celebration in 2007, she was recognized as one of her ten best works to be awarded the medal, chosen by a panel compiling a vote of the favorite public elections of all time. I was.

Learn more about Borrowers  here: brainly.com/question/25599836

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7 0
2 years ago
The Fed manages the country's money in three main ways. Which practice is described below?
Nataly_w [17]
- through Purchase and sale of Government Securities ( which commonly known as open market policy)

- By controlling the discount rate

- By Changing the reserve requirements
4 0
4 years ago
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