The journal entry would be to debit the Sales allowance account and credit the merchandise account. This is because the sales allowance is an expense for the merchandiser so it will be debited and the person he is selling the merchandise to will be credited as the rule states to credit the receiver. These rules will be according to the golden rules of accounts.
So the journal entry will be Sales allowance a/c Dr.
To Merchandise a/c.
A perpetual inventory system is a computerized system to record inventory immediately. It is an automatic system and happens at the point of sale. By this method, the seller is able to keep aware of his inventory information immediately. This system uses computerized point-of-sale systems and enterprise asset management software.
This type of perpetual inventory system is usually used by grocers to keep an account of their goods. This makes their work much more efficient and easy.
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Answer:
Explanation: If a court had to construe a contract between Wire Co and a copper company based on industry practice. Means that A legal document that will state the entire business operation would have to be drawn down before any business transaction commences between the parties.
Answer: $758
Explanation:
When using the LIFO ( Last in First Out) method of valuing stock, you sell the stock that came in most recently first then you sell the stock that came the least recently last.
Sold 10 units in November 4 with the most recent inventory being 24 units at $23.
The 10 units therefore cost $23 each.
Sold 24 units on November 17 with the most recent inventory being 29 units purchased at $22 on the 10th of November.
This will therefore be valued at $22 each.
The Cost of Merchandise for the month is therefore,
= (10 * $23) + (24 * 22)
= 230 + 528
= $758
The thing that Mary should do <span> to maximize her budget throughout the entire day is: Change the delivery method from "standard" to "accelerated"
By changing the delivery method into accelerated, mary's add will be displayed more frequently as soon as each day starts until mary's total budget is reached.</span>
Variable costs are corporate expenses that vary in direct proportion to the quantity of output. Unlike fixed costs, which remain constant regardless of output, variable costs are a direct function of production volume, rising whenever production expands and falling whenever it contracts.
