Answer:
d. Debit Cost of Goods Sold $500.
c. Credit Merchandise Inventory $500.
Explanation:
The journal entry to record the cost of the sale is shown below:
Cost of Goods Sold $500
To Merchandise inventory $500
(To record the cost of the sale)
Here the cost of goods sold is debited as it increased the expenses and credited the merchandise inventory as it reduced the assets
Answer:
C
Explanation:
Job 1
Annual Income+ Benefits- (annual housing & utility cost)
78,000+4,000-( 1,350*12)= 65,800
Job 2
Annual Income+ Benefits- (annual housing & utility cost)
100,000+2,500-( 3,150*12)= 64,700
Therefore, job 1 is a better choice
This strategy is an attempt to retain the consumers' perception of their product. Consumers' perception is a marketing concept that has to do with the impression that a company produces about its products. Customers perception is influenced by advertisements, reviews, social media, personal experiences, etc.
Answer: The correct answer is "Deflation was bad for farmers because the value of their debt stayed the same while the price of their products fell.
Explanation: Deflation was bad for farmers because the value of their debt stayed the same while the price of their products fell.
The farmers who asked for loans had to return the same nominal value that they borrowed (whose real value was higher since the price level decreased) and lowering the price of the products they sold obtained less profit margin.