Answer and Explanation:
The computation is shown below
1. The adjusted balance in the retained earning is shown below:
= beginning balance of retained earning + adjusted net income
where,
beginning balance of retained earning is $860,000
And, the adjusted net income is
= $68,000 × (1 - 0.35)
= $44,200
So, the adjusted balance in the retained earning is
= $860,000 + $44,200
= $904,200
2. Now the journal entry is
Inventory $68,000
To Retained earning $44,200
To Tax payable $23,800 ($68,000 × 35%)
(Being the adjustment of ending inventory is recorded)
It increased the inventory and along with it it also increased the equity and liabilities so the respective account is debited and credited
The activity that play an important role in connecting brands to consumers in the final phases of the buying process is C. Retailing.
<h3>What is the role of retailing in the buying process?</h3>
Retailing refers to the set of activities that allow for consumers to be able to access goods and services that were produced by different companies and brands. The process of retailing often comes in the final phases of the buying project as it involves the consumers who are the end stage of the buying process as they are the ones to consume the goods and services being sold.
Retailing is therefore hugely important because it connects the brands to the consumers that they serve . Without retailing, companies would make products and services and be unable to sell them to anyone as they would not have any connection to the final consumers .
Find out more on retailing at brainly.com/question/29357664
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Answer:
system producing
intermittent system
Explanation:
The production-inventory taxonomy is based on continuos system producing standardized products through an assembly line, whille intermittent system are used to produce non standardized products through a job shop.
Answer: Points of indifference
Explanation: Point of indifference can be defined as that level of EBIT at which two alternative financial plans have same amount of net income. It is used by managers as an evaluating tool, when it comes to choose between two cost structures which are alternative of one other.
In the given case, the company must have build point of indifference before launching of new product, and must have expected higher profits than normal beer.
Answer:
Dr Cash $1,100
Cr Notes receivable $1000
Cr Interest revenue $100
Explanation:
The $1,100 receipt of cash from C.Mate comprises of $1000 principal and $100 interest revenue,the $1000 should be credited to notes receivable since it is a reduction in asset and $100 credited to interest revenue as an increase in income.
The debit would be to cash account as an increase in cash and cash equivalents in the balance sheet of Android Products Inc,under the current assets section.
