A credit to cash, a debit to sales returns and allowances, a credit to inventory, and a debit to cost of goods sold are all recorded.
Perpetual inventory, commonly referred to as continuous inventory, is an inventory management system that uses software to automatically and constantly record each stock movement (such as purchases, returns, consumptions, and write-offs), keeping the system current at all times.
This contrasts with the need to manually update the system on a regular basis when utilizing spreadsheets or paper-and-pencil alternatives.
Barcodes, POS systems, radio frequency identification, and real-time reporting are used by perpetual inventory systems like MRP, ERP, or WMS software to track inventory movements and build a virtual trail of each transaction occurring in the physical inventory. This makes it possible to perform extremely accurate real-time inventory accounting, giving the business a current cost of goods sold at all times.
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Answer:
Joint venture
Explanation:
A joint venture can be defined as a business arrangement in which two parties come together to achieve a purpose by combining resources of both parties.
A joint venture involves joint ownership of the business.
A joint venture is good because it helps with sharing of liabilities with a partner, access to knowledge, etc.
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Answer:
C) $40,000 inventory basis, $15,000 JM basis.
Explanation:
JM distributed $80,000 worth of inventory, since Marcella has a 50% partnership interest, then half of the inventory belongs to her, $40,000 (= $80,000 / 2).
Since Marcella also received $10,000 in cash from JM, then her remaining basis in the partnership is:
$65,000 - $40,000 - $10,000 = $15,000
Answer:
The first organised stock exchange in India was started in 1875 at Bombay and it is stated to be the oldest in Asia. In 1894 the Ahmedabad Stock Exchange was started to facilitate dealings in the shares of textile mills there. The Calcutta stock exchange was started in 1908 to provide a market for shares of plantations and jute mills.
Then the madras stock exchange was started in 1920. At present there are 24 stock exchanges in the country, 21 of them being regional ones with allotted areas. Two others set up in the reform era, viz., the National Stock Exchange (NSE) and Over the Counter Exchange of India (OICEI), have mandate to have nation-wise trading.
They are located at Ahmedabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata, Kochi, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur’ Kanpur, Ludhiana, Chennai Mangalore, Meerut, Patna, Pune, Rajkot.
The Stock Exchanges are being administered by their governing boards and executive chiefs. Policies relating to their regulation and control are laid down by the Ministry of Finance. Government also Constituted Securities and Exchange Board of India (SEBI) in April 1988 for orderly development and regulation of securities industry and stock exchanges.
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