A credit to cash, a debit to sales returns and allowances, a credit to inventory, and a debit to cost of goods sold are all recorded.
Perpetual inventory, commonly referred to as continuous inventory, is an inventory management system that uses software to automatically and constantly record each stock movement (such as purchases, returns, consumptions, and write-offs), keeping the system current at all times.
This contrasts with the need to manually update the system on a regular basis when utilizing spreadsheets or paper-and-pencil alternatives.
Barcodes, POS systems, radio frequency identification, and real-time reporting are used by perpetual inventory systems like MRP, ERP, or WMS software to track inventory movements and build a virtual trail of each transaction occurring in the physical inventory. This makes it possible to perform extremely accurate real-time inventory accounting, giving the business a current cost of goods sold at all times.
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Answer:
The explanation of the terms of the option contract change is below
Explanation:
a. Every call option contract will cover more shares
= 500 × 1.1
= 550
for computing the 1.1 (1 + 10%)
The strike price will be reduced for each share to
= 40 ÷ 1.1
= $36.364
b. Cash dividend would not adjust the terms of the contract but the contract value would decrease if it is an option to call and increase if it is an option to place
c. Each contract call option will cover more shares
= 500 × 4
= 2,000
The strike price will be reduced for each share to 40 ÷ 4
= $10
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: That class ain't for you vro.
Explanation:
