Answer:
Date General Journal Debit Credit
Dec 31 Supplies expenses $2,300
(1,650+3,800-3150)
Supplies $2,300
(To record the supplies used during the period)
Dec 31 Insurance expenses $1,650
Prepaid expenses $1,650
(To record the insurance expired for December)
Dec 31 Salaries expenses $15,300
Salaries payable $15,300
(To record the unpaid salaries)
Dec 31 Deferred revenue $1,150
(3450/3 months)
Rent revenue $1,150
(To record the revenue earned during the period)
Answer:
Entry to record adjustment:
COGS Dr $9.4m
Inventory Cr $9.4m
Explanation:
The question relates to a change in accounting policy. According to IAS 8 (changes in accounting policy and estimate), a change in accounting policy is to be reflected retrospectively and prospectively, which means any changes should be implemented by bringing changes in the past records. Since CPS company has been using FIFO method, the inventory has been overstated in the financial statements. A shift to AVCO has resulted in a decrease in inventory value.
The value of inventory has to be reduced as a result of change in accounting policy (i.e $38m - $28.6m). This is the closing inventory so a reduction in the value of closing inventory results in an increase in cost of goods sold (COGS), therefore, the adjusting entry will be aimed at reducing inventory and increasing cost of goods sold, see as follows:
Entry:
COGS Dr $9.4m
Inventory Cr $9.4m
Answer:
The correct answer is the option D: All of the above.
Explanation:
To begin with, a company's primary strategy that focus on completing the main goal of the company of increasing the sales and with that the profits is considered to be the most important element that the business has in order to keep existing and therefore that as the time passes and the context around the organization changes, that strategy evolves. And there are a lot of reasones why that could happen, including the market conditions that vary over the pass of years as well as the need to react to the competitors decisions in order to keep fighting for the market. And other consequence that may help the change of the strategy is the effort itself of managers to make the strategy better as ideas turn to came out.
some people say its true others say its false
I would say its false
hope this helps :)
Answer:
D is the correct option
Explanation:
Google display specification site is to be used if you want to find how ad format works, creative submission timeline, technical specifications, reporting and third party tracking. It is a part of google ad sense. Ad sense is a program by google through which the website publisher in the Google Network of content site serve the text, images and other interactive media advertisements targeted at specific contents.
