Answer:
B)Perpetual inventory systems require more detailed inventory records.
Explanation:
Under the <em><u>Perpetual inventory system</u></em>, every time a good is sold the cost of goods sold (COGS) needs to be determined. That is the reason the details are so important.
Many times it varies because different units in inventory were purchased at different prices and times. <em>Inflation </em>might be a factor the prices changes too.
However, in the <u><em>Periodic inventory system</em></u>, (COGS) is determined at the end of the accounting period, so the person in charge of keeping the records usually checks the <em>Inventory</em> account at the end of the year to know COGS.
Answer:
The dealer will sell 15 Volvos
Explanation:
Consider the following formulas to calculate the Q of which optimize the exercise.
Profit = Q*p
Profit = (30-q)*q
Profit = 30q - q^2
Differentiating with respect to q, we get
30-2q = 0
2q = 30
q=15
The dealer will sell 15 Volvos
Option 'C' is correct
<u>Explanation:</u>
Present value of an ordinary annuity of $1
The present value of an annuity is the current value of future payments from an annuity, given a specified rate of return or discount rate.
The future estimation of cash is determined by utilizing a rebate rate. The markdown rate alludes to a financing cost or an accepted pace of profit for different speculations. The littlest markdown rate utilized in these figurings is the hazard free pace of return. U.S. Treasury bonds are commonly viewed as the nearest thing to a hazard-free venture, so their arrival is regularly utilized for this reason.
Answer:
$29,400
Explanation:
Straight line depreciation expense = (cost of asset - Salvage value) / useful life
Cost of asset = $150,000 + $20,000 + $7,000 = $177,000
($177,000 - $30,000) / 5 = $29,400
I hope my answer helps you
Answer:
McGregor would Debit Service Fee Expense for $6.
Explanation:
Data provided in the question:
Fee charged by the credit card company = 3% of the sales
Amount of payment made by the customer to McGregor for the service = $200
Now,
The amount of fees charged on the transaction bu the credit card company
= 3% of $200
= 0.03 × $200
= $6
Since, this fees is an expense for the McGregor
Hence,
McGregor would Debit Service Fee Expense for $6.
