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s2008m [1.1K]
3 years ago
5

Cumberland Co. sells $1,114 of merchandise to Hancock Co. for cash. Cumberland paid $779 for the merchandise. Under a perpetual

inventory system, which of the following is the correct journal entry(is)?
a. debit Cash, $1.084 credit Merchandise Inventory: $722
b. debit Cash. $1,084. credit Sales. $1.084 and debit Cost of Merchandise Sold. 722credit Merchandise Inventory: 5722
c. debit Accounts Receivable. $1,084, credit Sales. $1,084, and debit Cost of Merchandise Sold, 5722 credit Merchandise Inventory, 5722
d. debit Cash 5722: credit Sales. $722
Business
1 answer:
elixir [45]3 years ago
4 0

Answer:

Debit Cash $1,114

Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

Explanation:

Based on the information given the correct journal entry(is):

Debit Cash $1,114

Credit Sales $1,114

Debit Cost of merchandise sold $779

Credit Merchandise inventory $779

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Answer:

B. Natural barriers cannot prevent the entry of new firms.

Explanation:

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3 0
3 years ago
Suppose you have $850 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. Ho
olganol [36]

Answer:

FV= $772

Explanation:

Giving the following information:

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Interest rate (i)= 3.5% = 0.035

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A city government is considering two types of​ town-dump sanitary systems. Design A requires an initial outlay of ​$405 comma 00
SIZIF [17.4K]

Answer:

Desing A is a better deal as the equivalent annual cost is lower than desing B

Anywa, bot desing cost are above the city collections thus, it cannot afford the sanitary systems unless it raises taxes

Explanation:

<em><u>Desing A </u></em>

F0 405,000

operating and maintenance cost 51,000 for 14 years

Present value of the operating and maintenance cost:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C = $ 51,000.00

time = 14 years

rate = 0.07

51000 \times \frac{1-(1+0.07)^{-14} }{0.07} = PV\\

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equivalent annual cost:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

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rate 0.07

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5 0
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Brand awareness facilitates decision-making and is especially important for which type of consumer goods?
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4 0
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Answer:

Explanation:

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5 0
3 years ago
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