1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mars2501 [29]
3 years ago
15

ABC firm purchased 100 food processors in 2019. By the end of 2019, there are 50 of them not sold yet. The purchased price of th

e food processors is $120. On Dec. 31 2019, this type of food processor only sells $100. What should the accounts do with the price change?
Business
1 answer:
Mazyrski [523]3 years ago
3 0

Answer:

Debit 1,000 cost of goods sold.

Explanation:

Based on the information given what should the accounts do with the price change will be to DEBIT 1,000 COST OF GOODS SOLD.

Dr Costs of goods sold $1,000

Cr Inventory $1,000

[($50*$120)-($50*$100)]

(To record adjusting entry to reduce Inventory value under lower of cost or market value rule)

You might be interested in
What is the ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for an advantag
finlep [7]

The ongoing set of competitive actions and competitive responses that occur among firms as they maneuver for an advantageous market position  is called competitive rivalry.

Aggressive competition is the continued set of aggressive moves and competitive responses that occur amongst corporations as they maneuver for an nice market position. competitors are firms running in the equal market, supplying similar merchandise, and concentrated on similar customers.

Creates a positive picture of your emblem or product: Positioning in advertising lets in you to influence how others view your product. in case you create materials that show the product in a effective light, customers may partner you this, that may result in extra purchases.

Learn more about advantageous market position here:-brainly.com/question/15530466

#SPJ4

5 0
2 years ago
If an increase occurs in the demand for the output of industry A, we would expect all of the following to happen except:A. an in
ruslelena [56]

Answer:

The correct answer is option B.

Explanation:

The total revenue and profits of the industry as the price level  increases with increase in the demand.

When there is an increase in the demand for the output of an industry, that industry will increase the production to match the increase in the demand. The increase in production will cause output level to increase.

In order to produce more output the industry will require more inputs, so the demand for inputs will increase.

An increase in the demand for inputs will be accompanied by increase in their prices.

There will not be any decline in the price of inputs.

3 0
3 years ago
Chip Off The Old Block is a new chocolate chip cookie created by the Arizona Cookie Company. To generate interest for this new p
Westkost [7]

Answer:

C) sales promotion.

Explanation:

Sales promotions are the activities that a business conducts to persuade a customer to buy. There are marketing pull strategies aimed at stimulating sales. Sales promotions also mean extra incentives given to salespeople and retailers to increase sales.

Sales promotion are short term measures used to boost sales or introduce a product to the market. Arizona cookies expect the customers will enjoy the free cookies and use the free coupons to buy more. By giving the free samples, Arizona is introducing its products to new customers with the anticipation of growing its sales. Other methods of sales promotions include competitions and loyalty points.

8 0
4 years ago
fitness center is planning to invest in specialized exercise equipment. This equipment is highly effective, but the club members
cricket20 [7]

Answer:

b. job and technical training

Explanation:

The job and the technical training is the training which is to be provided by the company or the centers  to the workers or the people who want to trained in a particular service or specialized in a service  in order to get a better and satisfying job through which they can build their career in a better way  

In the given situation, the fitness center send the instructors to the certified training program to learn how to use these machines correctly that reflects the job and technical training

8 0
3 years ago
While visiting a client to deliver their 2019 tax documents, one of the owners approaches you and states: "The IRS says my trave
serious [3.7K]

Answer:

Commuting refers to travelling from your home to your workplace. It generally refers to the distance that people generally travel to get to their office or any type of workplace.

While business travel refers to not only leaving your house to go to work, but actually going somewhere else to perform your regular business activities, e.g. going form one state to another to close a sale. In order for business travel to be effectively recognized as such, it must be necessary for your business activity and it should last more than one ordinary workday.

In this case, your client continuously leaves his house and goes form one state to another performing his normal business activities. This perfectly fits the IRS's definition of business travel.

Initially, you can try to solve this issue with IRS Office of Appeals (since you are right), but if that doesn't work, then you can go to Tax Court.

6 0
4 years ago
Other questions:
  • Assume net income was $210,000, depreciation expense was $6,200, accounts receivable decreased by $11,500, and accounts payable
    8·1 answer
  • If the demand for labor is going to outstrip the supply, a(n) _____ manager may hire more workers and encourage current workers
    12·1 answer
  • (tco 1) you are fairly good at various and sundry home repairs. you arent very good at electrical things, or anything having to
    6·1 answer
  • Best Bagels, Inc. (BB) currently has zero debt. Its earnings before interest and taxes (EBIT) are $100,000, and it is a zero gro
    13·1 answer
  • SNC is considering evaluating the payment profile of its customer base, especially focusing on customers who are chronically del
    12·1 answer
  • Which of these phrases is call to action
    11·1 answer
  • Sheddon Industries produces two products. The products' identified costs are as follows: Product A Product B Direct materials $
    9·2 answers
  • A company purchased land for $90,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an ol
    10·1 answer
  • Yellow Enterprises reported the following ($ in 000s) as of December 31, 2018. All accounts have normal balances. Deficit (debit
    15·1 answer
  • You're trying to save to buy a new $196,000 Ferrari. You have $46,000 today that can be invested at your bank. The bank pays 5.4
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!