Answer:
<u>Perpetual Inventor System.</u>
<u> DR CR</u>
<u> $ $ </u>
March 2
(a) Accounts receivable $850,000
Revenue $850,000
Cost of goods sold $500,000
<u> Inventory $500,000</u>
March 6
(b) Inventory $60,000
Cost of goods sold $60,000
Revenue $100,000
<u>Accounts receivable $100,000 </u>
March 12
(c) Bank/Cash $850,000
<u> Accounts receivable $850,000 </u>
Explanation:
perpetual inventory system is an inventory system where inventory records are updated to reflect additions and subtractions inventory. Records will be made when inventories are received, goods are sold items returned, etc.
Explanation & answer:
Cash basis, so all monies retain same values over the years.
Let x = payback period in years
Salvage value of machine
= 48000 - 4000x
Sales
= 16000x
Total revenue after x years
R = 16000x
Expenditures over x years
C = Cost of machine + materials + depreciation
= 48000 + 8000x + 4000x
= 48000 + 12000x
For payback
R = C
16000x = 48000 +12000x
Solve for x
x = 48000/4000 = 12 years
By that time, the machine has no more salvage value.
Answer:
Debit Cash account $50,000
Credit Ordinary share $5,000
Credit Share Premium $45,000
Explanation:
When share issued are paid for at an amount above the par or ordinary value, the excess paid is known as share premium.
The share premium like the par or ordinary value is recognized in the balance sheet as a part of the owners equity.
For a stock unit at par value of $1 for which the issue price was $10,
the share premium per unit
= $10 - $1
= $9
Ordinary share value = $1 × 5000 = $5,000
Share premium amount = $9 × 5,000 = $45,000
Answer: culture
Explanation:
Culture is the custom, ideas, and the social behaviour of a particular society. For an organization to develop a marketing strategy that is successful, the organization must consider the cultural influences of the people where a new product will be introduced.
People make decisions on the consumption of a product usually on their cultural influences. The Nike advertisement involving Chinese was an example of cultural influences in marketing strategy.
Answer:
$5,225
Explanation:
Calculation for What should Tringali report as its deferred income tax liability as of the end of its first year of operations
Using this formula
Deferred income tax liability=Temporary difference-depreciation*Tringali's tax rate
Let plug in the formula
Deferred income tax liability= $20,900 * 25%.
Deferred income tax liability=$5,225
Therefore What Tringali should report as its deferred income tax liability as of the end of its first year of operations is $5,225
