Answer:
C. Increase cost of goods sold and decrease inventory by $16,400
Explanation:
When Inventory is purchased, Debit Inventory and credit Cash/Accounts payable. As Inventories are sold, debit (increase) cost of goods sold (with the cost of the items sold) and Credit (decrease) Inventory account.
Using the first in first out method, the 4,000 units sold must have consisted of the following purchases;
- 2000 units on January 1
- 2000 units from the 3000 on January 13
Hence the cost of goods sold
= 2000 * $4 + 2000 * $4.20
= $16,400
Approximately 40% of buisnesses
If for the last several years, a country has been moving from a communist system to a more mixed economic system. what would most likely occur in that country is: <u>An increase in choice among competing goods</u>
<h3>What is communist system?</h3>
Communist system can be defined as the system of government in which the public tend to own the factors of production.
If a country has been moving from a communist system to a more mixed economic system. what would most likely occur in that country include the following:
- An increase in choice among competing goods
- Private ownership of business
- More incentives for workers so as to enable them work harder.
Therefore what would most likely occur in that country is: An increase in choice among competing goods.
Learn More about Communist system here:brainly.com/question/11794027
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Net Pay is what you get to take home. Its your money after taxes. YDT is Year-To-Date net pay. That is what you have made from the beginning of the year until now and may change from paycheck to paycheck.
Answer: $2,000
Explanation:
-Use form 2441 on the IRS website for 2019.
-Wages earned=$45,000, therefore, it would be between "over 43,000 but not over 'No Limit' " which is 20% (.20)
-$10,000(paid in daycare) × .20 = $2,000