Answer:
merchandise inventory
Merchandise inventory
Merchandise inventory
Merchandise inventory
Merchandise inventory
Merchandise inventory
Explanation:
When the perpetual inventory method is being used, the accountant debits <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.
When the perpetual inventory method is being used, the accountant debits <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.
When the perpetual inventory method is being used, the accountant debits <u>merchandise inventory </u>and credits Accounts Payable (or Cash) when goods are purchased and debits Cost of Goods Sold and credits <u>merchandise inventor</u>y when gods are sold, along with the proper sales entry.
The cost of each sale transaction ensures that the merchandise inventory account under a perpetual inventory system reflects the updated cost of merchandise available for sale.
Answer:
The correct answer is $ 49,000. (which is not in options)
Explanation:
This problem requires us to calculate value of retain earning at the end of the year. We know that assets = equity + liabilities and equity = common stock + retain earning. Following this rule we can easily calculate amount of retain earning. Detail Calculation is given below.
Asset
Accounts Receivable $30,000
Land $42,000
Investments $7,000
Building $59,000
Cash and Equivalents $80,000
Equipment $64,500
Supplies $6,000
Total Asset $288,500
Less
Liability
Notes Payable $59,000
Interest Payable $5,500
Income Taxes Payable $10,000
Accounts Payable $38,000
Total Liabilities $112,500
Less
Equity
Common Stock $127,000
Retain earning $ 49,000
The statement, "Common stock is a vehicle for selling ownership and another way to raise money for operations, expansion, or other business needs" is true.
<u>Explanation:</u>
Common stock is a distribution tool and a way to raise capital for investment, business growth or other company needs.
Common stock is a kind of company holding, a type of safety. In many other regions of the world, the terms polling share and prevalent share are frequently were using.
The "common stock" is used mainly in the USA. These are classified as shareholdings or common shares in the United Kingdom and other Commonwealth.
It means that one common stock share constitutes percentage equity of a corporation. In certain words, this is a way to split the assets of a corporation.
For example, if 100 shares were taken out, one share would amount to one percent of the company's intellectual property.
<u>VeriSign</u> is a third-party certification seal program that verifies that a business protects confidential information with SSL encryption. VeriSign Secured basically means that the Identity of the website we try to access is been verified and validated by VeriSign, also VeriSign is involved with utilizing SSL protocol, encrypting transactions and communications for business protection and confidentiality.
1). The four factors that would be involved in Fatima's bakery business would be:
- Land or the place where she would prepare and pack the cakes.
- Labor who would be involved in the production of the cakes.
- Capital that would be invested to incur the costs of the production.
- Entrepreneurship is the 'art of employing innovation and risk-taking in the business for making profits.'
2). The opportunity cost of Fatima's decision to run her own bakery business would be her weekly earning of $120 per week as it is the cost of the most valuable forgone opportunity.
3). Fatima's business would assist the customers in meeting their 'wants' as she assists them in fulfilling their special and personalized demands for cakes for their various occasions like weddings, festivals, or birthdays and not for regular meals.
Learn more about 'opportunity cost' here:
brainly.com/question/13036997