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Nookie1986 [14]
3 years ago
8

All of the following statements are true regarding the periodic inventory system except Under the periodic system, a company use

s separate accounts to record freight costs, returns, and discounts. Using the periodic inventory system affects the balance sheet contents differently than when the perpetual system is used. Under the periodic inventory system, the balance of cost of goods sold is calculated at the end of the period. Under the periodic inventory system, the balance in ending inventory is calculated at the end of the period.
Business
1 answer:
bagirrra123 [75]3 years ago
7 0

Answer:

Using the periodic inventory system affects the balance sheet contents differently than when the perpetual system is used

Explanation:

Periodic inventory system can be regarded as a method used in inventory valuation for the purpose of

financial reporting whereby physical count of the inventory is carried out at specific intervals. There is no effort made in keeping up-to-date records patterning the cost of goods sold as well as inventory under this system. It should be noted that these followings as regards to periodic inventory system

✓ Under the periodic system, a company uses separate accounts to record freight costs, returns, and discounts.

✓Under the periodic inventory system, the balance of cost of goods sold is calculated at the end of the period. ✓Under the periodic inventory system, the balance in ending inventory is calculated at the end of the period.

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How does the velocity of money affect a national economy?.
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Answer:

when the velocity of money is high, it means each dollar is moving fast to purchase goods and services. It reflects high demand,which generates more production. When the velocity is low, each dollar is not being used very often to buy things.

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2 years ago
g Suppose that if GSI drops the price on the Glucoscan 3000 immediately, it can increase sales over the next year by 30% to 130,
Amanda [17]

Complete Question:

Glucose Scan Incorporated (GSI) currently sells its latest glucose monitor, the Glucoscan 3000, to diabetic patients for $129. GSI is considering lowering the sale price to $99 per unit. The cost of goods sold for each Glucoscan unit is $50, and GSI expects to sell 100,000 units over the next year. The marginal corporate tax rate is 40%. Suppose that if GSI drops the price on the Glucoscan 3000 to $99 immediately, it can increase sales over the next year by 30% to 130,000 units.

Also suppose that for each Glucoscan monitor sold, GSI expects additional sales of $100 per year on glucose testing strips and these strips have a gross profit margin of 75%. These strip sales occur on all monitor sales regardless of the price of the monitor. Including the increase in the sale of testing strips, the incremental impact of this price drop on the firms EBIT is closest to:

Answer:

$720,000

Explanation:

Incremental Earnings Before Interest and Tax Analysis  

Details                                         Current price               Reduced price

Units Sold                                        100,000                         130,000

Unit sales price                            <u>       129          </u>                <u>         99        </u>

Sales Revenue                             $12,900,000                 $12,870,000

Cost of Goods sold at $50            <u>5,000,000</u>                  <u>$6,500,000</u>

Gross Profit                                    $7,900,000                  $6,370,000

G. Profit on Strips sold at $75      <u>$7,500,000</u>                  <u>$9,750,000</u>

Total Gross Profit for the year      $15,400,000                $16,120,000

The Net benefit of this price change is increase of Earnings before interest and tax by $720,000.

3 0
3 years ago
In Vintland, sanitation engineers are being replaced with garbage robots, which have fewer negative effects and many more signif
pychu [463]

Answer: GDP decreases and standard of living increases

Explanation:

Based on the information given, the short-run effects of this industrial change on Vintland's GDP and its standard of living is that there'll be a reduction in the gross domestic product and an increase in the standard of living.

The reduction in GDP will be as a result of the reduction in the price of collecting garbage. On the other hand, the replacement of the sanitation engineers with the garbage robots will have fewer negative effects and many more significant benefits, thereby increasing standard of living.

3 0
3 years ago
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lesya692 [45]

Answer:

a) biculturalism

Explanation:

Biculturalism refers to one culture in which the combinations of two cultures are added it could be in the same country. The two cultures must be different to make them one

Therefore in the given situation when the minority members feel that they have to behave in the same way as the majority culture so this we called as a biculturalism

Therefore the correct option is a.

6 0
3 years ago
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