1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Rasek [7]
3 years ago
7

Madison Company's perpetual inventory records indicate that $875,300 of merchandise should be on hand on October 31. The physica

l inventory indicates that $781,900 is actually on hand. Journalize the adjusting entry for the i nventory shrinkage for Madison Company for the year ended October 31.
Business
1 answer:
Trava [24]3 years ago
4 0

Answer:

Madison Company's Journal entry

Dec. 31

Dr Cost of Merchandise Sold 93,400

($875,300-$781,900)

Cr Merchandise Inventory 93,400

Explanation:

If the perpetual inventory records $875,300 of merchandise while the physical inventory indicates $781,900 which means we have to deduct $781,900 from $875,300 which made us to arrived at $93,400 as Debited Cost of Merchandise Sold and as Credited Merchandise Inventory .

You might be interested in
Which of the following is an example of economic globalization?
andreev551 [17]
D) a Japanese stores selling tea and spices from South Asia
4 0
3 years ago
a plant asset trade-in with commercial substance means that it changes the company's: multiple choice question. current cash flo
stellarik [79]

We can actually deduce here that a plant asset trade-in with commercial substance means that it changes the company's: Future cash flows.

<h3>What is cash flow?</h3>

In Business, cash flows actually refers to the amount of the net cash and its equivalent that is actually being moved or transferred in and out of the company.

When cash is received by the company or organization, it is said to be cash inflow while the cash that is being spent to run the daily to day activities of the company are known as cash outflow.

Thus, we see that a plant asset trade-in with commercial substance means that it changes the company's  future cash flows. The future cash flow is the expected inflow and outflow of cash in the future.

Learn more about cash flow on brainly.com/question/735261

#SPJ1

3 0
1 year ago
A homeowner from State A hired a contractor from State B to build a vacation home for her in State C. The parties signed the con
Katen [24]

Answer:

The Home owner commenced the action in a state A court ( C )

Explanation:

The Defendant ( the contractor)  can decide to transfer the case from a state court to a federal court within the same state in which the case was filled by the The home owner  if the federal court has the Jurisdiction to rule on the case

Since the contract was signed in state A under the laws of the state the case is definitely a state case and the Homeowner's move to remand the case to a state court with the argument that the Federal court lacks proper Jurisdiction is in order. The court decision on the matter will be based on the fact that the Homeowner commenced the action in a state A court where the contract was signed.

6 0
3 years ago
The next dividend payment by Savitz, Inc., will be $1.68 per share. The dividends are anticipated to maintain a growth rate of 6
olasank [31]

Answer:

The answer is 11.25%

Explanation:

Solution

Given that:

The next step to take is to calculate the required rate of return which is shown below:

The required rate = D₁/P₀₀ + g

Thus,

$1.68/$32 + 0.06%

=0.0525 + 0.06

=0.1125 or 11.25%

Therefore, the required rate of return is 11.25%

7 0
3 years ago
Galvanized Products is considering purchasing a new computer system for their enterprise data management system. The vendor has
jok3333 [9.3K]

The purchase price is 90,000

3 0
3 years ago
Other questions:
  • The additional security option, used for credit card transactions, that keeps track of a customer’s historical shopping patterns
    6·1 answer
  • Selected financial information for Thornton Company for 2019 follows: Sales $ 2,000,000 Cost of goods sold 1,400,000 Merchandise
    8·2 answers
  • Select all that apply Workplace diversity benefits:
    10·2 answers
  • What is Benartzi's solution to all of these behavioral challenges that effect personal finance? How does improved personal finan
    11·1 answer
  • In your research project on tourism, you must collect data before the tourist season ends because the project requires interview
    11·2 answers
  • Brian Vargo, an auto repair mechanic who remains unemployed because he refuses to work for less than $1,000 an hour, is: a. not
    8·1 answer
  • If we use Country A as the base country to calculate a cost-of-living index comparison to Country B and the index number is posi
    5·2 answers
  • For the scenario below, determine the legality of the company's actions.
    12·1 answer
  • Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have $13,000 toward the purchase
    8·1 answer
  • An employee receives a phone call from someone saying they are from the bank. The person claims the purpose of the call is to ve
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!