Answer:
The correct answer is D. the ending merchandise inventory balance must be recorded as a debit via the Income Summary account
Explanation:
In the permanent inventory system, all purchases, sales, discounts and returns on purchases and sales are recorded at cost, in the account Goods not Manufactured by the Company. Thus: Purchases: the acquisition of merchandise is accounted for with a debit in the Merchandise not Manufactured by the Company account and a credit in Banks or Suppliers, as the case may be.
The initial inventory represents the value of the stock of merchandise on the date the accounting period began. This account is opened when the control of the inventories, in the Major General, is carried out based on the speculative method, and does not return to movement until the end of the accounting period when it will be closed with charge at cost of sales or by Profit and Loss directly. And it is the detailed and detailed relationship of the stock of merchandise that a company has when starting its activities, after making a physical count.
The final inventory is made at the end of the accounting period and corresponds to the physical inventory of the merchandise of the company and its corresponding valuation. By relating this inventory to the initial one, with the net purchases and sales of the period, you will obtain the Gross Profits or Losses in Sales of that period. is the list of stocks at the end of an accounting period.
Answer: d. After each semester, you asked your adviser to review your progress to ensure you remained on track for your anticipated graduation date
Explanation:
Efficiency is measurable and has to do with the ability to achieve a goal or get a result that's desired and avoid wastage of efforts or resources.
With regards to the explanation above, the statement that relate specifically to your efficiency is asking the level adviser to review ones progress in order to show that one is on track.
This shows that the person wants to achieve the goal of graduation and is putting all of his efforts towards that.
Answer:Being 22 I would not buy as i would trust my judgment skills on where the market is, and don't think I'd have an extra $300k sitting around to buy a house. So rent is the large solution for that. I will have my house provided by the Gov. (joining the marines)
Explanation:
Answer:
Loan Account
DR loan Note Account with $150,000
DR Loan Interest Expenses with $3,000
CR Cash/Bank Account with $153,000
Explanation:
the interest payable on the loan as at Dec 31 = $150,000 *6% *4/12 = $3,000
