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4vir4ik [10]
3 years ago
5

How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160

Business
1 answer:
dimaraw [331]3 years ago
5 0

Answer:

the journal entries used to record this transaction are:

Dr Accounts receivable 400

    Cr Sales revenue 400

Dr Cost of goods sold 160

    Cr Inventory 160

This transaction will increase net income, which increases retained earnings by $240. It will also increase assets by $240, since accounts receivable increases by $400, but inventory decreases by $160.

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Oilers, Inc. refines and markets its energy products in different nations around the world. In addition, Oilers' stockholders an
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I think it’s D or C but I’m not sure
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KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken
andrew-mc [135]

Answer:

D. Product Invention

Explanation:

            KFC added many items in the menu list when they opened their restaurants at China. By doing this KFC  tries to incorporate the local cuisine of Chinese foods into their menu.

            In China, KFC invented a new dish and named it the "Dragon Twister". In this dish, it contains a chicken wrap with Peking duck sauce on it. It highly resembles the local food of China.

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6 0
3 years ago
Daube Company's operations for the month of July are summarized as follows: Provided $8,600 of services on account. Received $3,
Norma-Jean [14]

Answer: See explanation

Explanation:

a. Determine the net income for July using the cash basis of accounting.

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Less: Expense = $1300

Net income = $12400 - $1300 = $11100

8 0
3 years ago
If the month-end bank statement shows a balance of $148000, outstanding checks are $48000, a deposit of $17000 was in transit at
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Answer:

$119,300

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the bank balance must be adjusted by adding the deposit in transit and the check that was charged against the account by mistake, and you must also subtract outstanding checks:

adjusted bank balance = $148,000 + $17,000 + $2,300 - $48,000 = $119,300

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3 years ago
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Setting a goal, reaching it, and then setting a bigger goal is a characteristic trait of a Self-motivated Entrepreneur.
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3 years ago
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