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Scrat [10]
3 years ago
7

What first in first out in accounting

Business
1 answer:
velikii [3]3 years ago
4 0

The correct answer is FIFO meaning that the oldest inventory items are recorded as sold first but do not necessarily mean that the exact oldest physical object has been tracked and sold.

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Jack owns and runs a bookstore. He looks after the accounts of the business and also purchases books from publishers. Sometimes
Sunny_sXe [5.5K]

company is the answer



4 0
3 years ago
What are the types of office etiquette?
jenyasd209 [6]

Answer:

The types of office etiquette:

1) Workplace etiquette

2) Table manners and meal etiquette

3) Professionalism

4) Communication etiquette

5) Meetings etiquette

5 0
3 years ago
A company has developed a new cell phone which will be targeted to developing countries. It is estimated that the demand for the
Arturiano [62]

Answer:

Demand forecast.

Demand forecast is the process a business embarks on so that it can predict its future sales and demand of a product.

Explanation:

A demand forecast will assist the company to come up with decisions as regards the number and nature of people they need. The demand forecast will also help to determine the amount of workers they need for staffing a new facility so that it can operate efficiently and at it optimum.

4 0
3 years ago
Read 2 more answers
Taxes on the property buyer Tamara is purchasing are $8,200, due on December 31. If the closing is set for June 29th, using the
Ilia_Sergeevich [38]

Answer:

$4,044

Explanation:

Calculation for how much of the taxes will be credited to the buyer

First step is to divide the annual taxes by the numbers of days in a year

$8,200 / 365 days

= $22.466 per day

Second step

Based on the information given we were told that the Seller's ownership started from January 1- June 29 which gave us 180 days, this means that we would multiply $22.466 per day by 180 days in order to know how much of the taxes will be credited to the buyer

Hence,

Amount credit to the buyer=180 days

x 22.466

Amount credited to buyer= $4,044

Therefore the amount of the taxes that will be credited to the buyer will be $4,044

3 0
3 years ago
The following selected transactions were completed by Capers Company during October of the current year:
Zarrin [17]

Answer:

Date   Accounts title and explanations   Debit$      Credit$

1-Oct   Merchandise inventory                    15458

                  Accounts payable - Sabol imports            15458

3-Oct  Merchandise Inventory                     9850

                   Accounts payable- Saxon Co.                   9650

                   Cash account                                              200

4-Oct   Merchandise Inventory                     13550

                   Accounts payable- Schnee Co.                       13550

6-Oct    Accounts payable -Schnee Co        4350

                    Merchandise inventory                                4350

13-Oct    Accounts payable-Saxon Co          9650  

                      Cash account                                              9457

                       Merchandise inventory                               193

                        (9650*2%)

14-Oct    Accounts payable-Schnee Co        9200  

                      Cash account                                               9016

                       Merchandise inventory                                 184

                       (9200*2%)

19-Oct    Merchandise inventory                    27270

                        Accounts payable - Southmont Co           27270

19-Oct    Merchandise inventory                       375

                        Cash account                                              375

20-Oct    Merchandise inventory                     21400  

                        Accounts payable -Stevens                      21400

30-Oct   Accounts payable-Stevens                 21400

                         Cash account                                             21186

                          Merchandise inventory                             214

                           (21400*1%)  

31-Oct    Accounts payable-Sabol imports      15458  

                      Cash account                                                 15458

31-Oct    Accounts payable -Southmont Co    27270  

                   Cash account                                                    27270

7 0
3 years ago
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