Job environment how it looks and feels<span />
Answer:
1. accounting records continuously disclose the amount of inventory.
Explanation:
The periodic inventory system is the accounting method of calculating the value of inventory at the end of a specified period of time. Under this system, updates are made on a periodic basis rather than after every sale or purchase of inventory. It continuously tracks the record of inventory by physically counting the inventory and the cost of inventory is calculated by using the inventory calculation method, such as FIFO, LIFO, and weighted averages.
Answer:
If Solemon wants to earn a targeted profit of $3,600, the number of units must be sold are 9,300 units.
Explanation:
In Solemon Company:
Contribution margin per unit = Sales price – Variable cost per unit = $8-$6=$2
The number of units must be sold to meet the target profit figure are calculated by using following formula:
The number of units must be sold = (Total fixed cost + Targeted profit) / Contribution margin per unit.
In there: Total fixed cost are $15,000
Targeted profit are $3,600
The number of units must be sold = ($15,000 + $3,600)/$2 = $18,600/$2 = 9,300 units.
Answer:
annual report
Explanation:
Annual report -
It is the comprehensive yearly report of the organisation or any company , is referred to as the annual report .
The annual report consists of all the financial records , progress rate , annual balance sheet etc , is all mentioned in the annual report .
This report helps the people of some other company , to get brief information about the company .
Hence , from the given information of the question,
The correct term is annual report .
Answer:
July 31
Shrinkage Expense $1,800 ($44,300 - $42,500)
Inventory $1,800 Reflects the loss on inventory account.
Explanation:
When the company conduct a physical inventory of their merchandise, most of the time there are discrepancies between physical counts and books values, then it's necessary to reflect that in the accounting,
The correct way is to reflect the difference as a loss in there is less units of goods or as profit if there more units, it's mostly a loss because of damage or theft.
To this case the total amount on the books on July 31 was $44,300 but when the physical counts was made the result was a total value of $42,500, the difference of $1,800 it's reported as a loss to the company in the income statement.
