The right answer for the question that is being asked and shown above is that: "b. his marketing should stress quality and service." As Jake began his market research he discovered that there wasn't another retail boating supplies business for hunting more than 100 miles in fact there was no large lake or river either Jake concluded that his<span> marketing should stress quality and service</span>
Answer:
Cash provided by operating activities is 89.000
Explanation:
The indirect method involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.
It depends on the account if it is added or subtracted to net income. Below you will find the added account with a plus (+) and the subtracted ones with a minus (-)
Notice the amounts of any decreases are in parentheses.
Net income 65.000
Adjustment to reconcile the net income to cash
+ Depreciation expense 8.000
+ Current assets decrease 7.000
+ Current liabilities increase 9.000
Net cash 89.000
Answer:
a. background check
Explanation:
thats what they do when they're looking into your history
Answer:
In Barton and Barton Company's general journal, entry required include:
Debit Retained Earnings Account with $8.2 million
Credit Opening Inventory with $8.2 million
Being reversal of overstated inventory due to change from FIFO to Average cost method.
Explanation:
The debit entry to the Retained Earnings Account will reduce the balance by $8.2 million. The effect of overstating the closing inventory is overstatement of the net income because the cost of sales was understated as a result of the inventory overstatement.
The credit entry to the Opening Inventory reduces the balance to the new balance based on the average cost method of $23.8 million.
The FIFO cost method or First-In, First-Out method is an inventory costing method that assumes that goods that were bought first were the ones to be sold first. The inventory cost is therefore valued with the most recent quantity and cost price.
On the other hand, the Average Cost Method, also called the Weighted Average Cost Method, calculates the inventory cost by adding all the period's inventory and dividing it by the quantity for the period. This gives an average cost which is in turn used to multiply the quantity of inventory at the end of the period to obtain the inventory cost.
Both methods are estimates that produce different results and affect the reported net income differently. There is always the need for consistency in choosing the method to apply so that reported net income is not unduly distorted.
