The journal entry that is needed to record the needed adjustment is;
Cost of Goods sold: 1,000 debit
Merchandise Inventory: 1,000 credit
When making the journal entry the company needs to adjust for the lower amount of merchandise that they have. Then the cost of the goods that were sold needs to be debited. Lastly, the merchandise inventory is credited.
It is imperative that all companies keep an updated journal. This helps to keep the balances correct. If the company has an audit and the adjustments aren't made correctly they could be fined.
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Answer:
Please see explanations below.
Explanation:
Economic development is the improvement in the standard,well being or quality of living of a country's citizen. It is an improvement to economic growth, which is the ability of a country to produce goods and services in large quantities over a period of time.
Most developed nations do not become developed overnight. These developments are as a result of long term plan and having focused leaders. When a country puts into perspective sound macro economic policies such as investment in critical infrastructure, encourage export , investment in and promotion of selected industries, universal primary and basic secondary education, investment in agriculture etc. All these are long term planning which most prosperous nations invested in.
Having a focused leader is also important for a Nation to prosper. When a country has a leader who is focused, then he would have vision for developing his country and work towards the fulfilment.
On the other hand, most nations remain poor due to so many reasons. Financial misappropriation, which is common among poorer nations especially in Africa. People misuse public funds which are meant to to provide infrastructure, healthcare; heavy taxation,etc. There is also lack of education. Unqualified people are employed in a position meant for those who are qualified.
The role of United States have always been ; proving funding for infrastructure development, health care facilities, education, military training, etc. Such roles should be sustained in these poorer nations and improved upon subsequently.
Answer:
$416,000
Explanation:
Darwin sells a particular book for $24
Variable expenses are $16
The current volume of book sold is 52,000 books
The first step is to calculate the unit Contribution margin
= $24-$16
= $8
Therefore the fixed expenses that is associated with the book can be calculated as follows
=52,000 × 8
= $416,000
Answer:
A broker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Explanation:
A broker refers to an individual or business firm that is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.
Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.
Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).
