Answer:
The the value of the ending Finished Goods Inventory $24,628,50
Explanation:
See attached file
Answer:
$11,947
Explanation:
The following expenses shall be allowed as qualified higher education expense to Jose for the purpose of his son Qualified tuition program
Tuition Fees $6,400
Room and board $4,775
Books $772
Total expenses to be allowed $11,947
Answer:
Correct answer is D, Debit Insurance Expense, $460; credit Prepaid Insurance, $460
Explanation:
The company uses asset method of recording the purchase of insurance. Hence, at end of year end the company must recognize the expire portion of the policy and charge it against insurance expense.
$2,300 / 5 years = $460 (annual insurance expense)
Entry:
Debit Insurance expense $460
Credit Prepaid insurance $460
The balance of the prepaid insurance at the end of first year is $1,840 (2,300 - 460).
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Answer:
barter
Explanation:
Barter system -
In this type of system , there us exchange of goods and commodities , without the use of any monetary value like money , is referred to as barter system .
When money system was not introduced , barter system was used , where people used to exchange the goods depending on the needs of each other .
Barter system is based on the bilateral basis.
Hence , from the given scenario of the question,
The correct term is barter.