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ICE Princess25 [194]
2 years ago
6

Frisco Company's Merchandise Inventory account at year-end has a balance of $62,115, but a physical count reveals that only $61,

900 of inventory exists. The adjusting entry to record this $215 of inventory shrinkage is: Multiple Choice'
Business
1 answer:
Lisa [10]2 years ago
4 0

Answer:

Increase on cost of goods sold by $215, decrease in merchandize by $215.

Explanation:

With regards to the above information, the cost of goods sold will increase by $215, while the merchandize value would also decrease by $215.

Here, the books will be even out so that it would show there was a shrinkage at year end and beyond that which was purchased to have taken place.

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Thomas Partner purchased shares of Bad Wolf Industries on the open January 2 at $116.26 per share. He earned a dividend of $0.41
Hunter-Best [27]

Answer:

time weighted rate of return: 5.36%

Explanation:

We have to calculate the holding rate of return for each month and then mutiply them together:

<u>January:</u>

(119.90 - 116.26)/116.26 = 0.031309135

<u>February:</u>

(123.58-119.9)/119.9 = 0.030692244

<u>March:</u>

(0.41 + 122.08-123.58)/123.58 =  - 0.0088194

(1 + Jan) (1 + Feb) (1 + March) = 1.053587547

now we subtract one to get the wanted rate:

time weighted rate of return: 5.36%

3 0
3 years ago
Check-in, initial briefing, recordkeeping, and demobilization procedures are all necessary to ensure:
astra-53 [7]
A tbh i have no idea i just guessed 
8 0
3 years ago
on january 1 ripken corporation had 80000 shares of 10 par value common stock outstanding. on may 7 the company declared a 10 st
Akimi4 [234]

Answer:

Debit : Dividend $8,000

Credit : Shareholders for dividends $8,000

Explanation:

We recognize equity item - dividend and a liability - shareholders for dividend on declaration date.

Dividend = 80000 shares x $10 x 10% = $8,000

3 0
2 years ago
If the united states placed an embargo on swedish products, what would happen in the u.s. market for swedish furniture
olga nikolaevna [1]
An embargo<span> (from the </span>Spanish embargo, meaning hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally "distraint" in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country or a group of countries.<span> Embargoes are considered strong diplomatic measures imposed in an effort, by the imposing country, to elicit a given national-interest result from the country on which it is imposed. Embargoes are similar to </span>economic sanctions<span> and are generally considered legal barriers to trade, not to be confused with </span>blockades<span>, which are often considered to be acts of </span>war<span>.

</span><span>in the u.s. market for swedish furniture, </span>The supply curve would shift to the left.
8 0
3 years ago
Pilfer Company acquired 90 percent ownership of Scrooge Corporation in 20X7, at underlying book value. On that date, the fair va
Maru [420]

Answer:

C) $100,000

Explanation:

Based on the information given we were told

that the inventory Purchased by Pilfer from

Scrooge was RESOLD to companies that they are unaffiliated to on December 1, 20X8 for the amount of $100,000 which means that the amount of sales that will be reported in the 20X8 CONSOLIDATED INCOME STATEMENT

will be inventory amount of $100,000 that was resold to the unaffiliated companies.

8 0
2 years ago
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