The journal entry that is needed to record the needed adjustment is;
Cost of Goods sold: 1,000 debit
Merchandise Inventory: 1,000 credit
When making the journal entry the company needs to adjust for the lower amount of merchandise that they have. Then the cost of the goods that were sold needs to be debited. Lastly, the merchandise inventory is credited.
It is imperative that all companies keep an updated journal. This helps to keep the balances correct. If the company has an audit and the adjustments aren't made correctly they could be fined.
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The above statement is FALSE.
<span>Consideration of the firm's overall objectives MUST BE DONE because it influences the final selection of a target market segment.
Target market segment is a strategy that outlines how and what will the business do to reach its intended customers. This is a strategy that will fulfill the company's short term goals as well as have a great impact on the firm's long term overall objectives as a business or company. </span>
Answer:
Costco is following Customer Oriented Strategy in the business.
Explanation:
Costco offers around 4000 different products to its 64 million members. Costco is now planning to stock more of organic products as the popularity for these products among its customers in gaining significance. Costco has also planned to help farmers to grow organic farms which will benefit the Costco customers. This is customer oriented strategy because Costco is focusing on the needs of its customers.
If there is an increase in government spending, the new equilibrium will be at <u>B</u> holding everything else constant.
<h3>What is government spending?</h3>
Government spending can be the defined as the money spent on goods and service or money spent by government to provide services to the public.
An increase in government spending will tend to lead to increase the demand of goods and service which inturn means that consumption expenditure will as well increase.
Inconclusion the new equilibrium will be at <u>B</u> holding everything else constant.
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