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omeli [17]
2 years ago
12

A company sold merchandise with a cost of​ $217 for​ $390 on account. The seller uses the perpetual inventory system. The entry

to record the cost of merchandise sold would include​ ________.
A. a debit to Merchandise Inventory for​ $231 and a credit to Cost of Goods Sold for​ $231
B. a debit to Cash and a credit to Sales Revenue for​ $480
C. a debit to Sales Revenue and a credit to Cash for​ $480
D. a debit to Cost of Goods Sold and a credit to Merchandise Inventory for​ $231
Business
1 answer:
Elden [556K]2 years ago
7 0

Answer:a debit to Cost of Goods Sold and a credit to Merchandise Inventory for​ $217

( The answer Is not in the options given)

Explanation:

The Perpetual inventory is a method of accounting for inventory  which immediately records when an inventory is sold or purchased using the available point-of-sale software systems of the particular business.

In that regard , the entry to record  cost of merchandise sold

Account titles                                              Debit         Credit

Cost of goods (Merchandise sold)             $217

Merchandise Inventory                                                    $217

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"Because apples and oranges are substitutes, an increase in the price of or¬anges will cause the demand for apples to increase.
irinina [24]

Answer:

The correct answer is option a.

Explanation:

Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.

The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.

So, the given statement is not correct.

7 0
3 years ago
Macrosoft Company reports net income of $61,000. The accounting records reveal depreciation expense of $76,000 as well as increa
melamori03 [73]

Answer:

Cashflow from Operating Activities                  $

Net income                                                         61,000

Add: items not involving movement of cash

Depreciation                                                    <u>76,000</u>

                                                                          137,000

Changes in working capital:

Increase in prepaid rent                                   (56,000)

Increase in accounts payable                           <u>11,000</u>

                                                                            92,000

Less: Tax                                                           <u>  16,000</u>

Cashflow from operating activities                   <u> 76,000</u>

Explanation:

Cashflow from operaing activities  using the indirect method equals net income plus depreciation minus increase in prepaid rent plus increase in accounts payable minus tax.

4 0
3 years ago
Mays, Inc. had net income for 2014 of $1,060,000 and earnings per share on common stock of $5. Included in the net income was $1
Rainbow [258]

Answer:

The dividends on common stock in 2014 for Mays, Inc was:

Dividends paid=$2650

Explanation:

1. You must follow the formula below to find out the Dividends Paid by Mays inc,

Payout ratio = (dividends paid/net earnings for the period) x 100 then,  

Dividends paid= (Payout Ratio/100) x net earnings for the period

Dividends paid= (25%/100)x$ 1'060.000

Dividends paid=$2650

8 0
3 years ago
Customers are more likely to tell their friends about negative experiences with companies than positive ones because:
polet [3.4K]

There is more drama involved in unmet expectations.

The reason why customers are more likely to tell their friends about negative experiences with companies than positive ones is that humans often remember the hateful things said than the nice things

Also, when customers are satisfied with one's service, they rarely tell others. whereas an unsatisfied customer would tell others about his or her bad experience due to unmet expectations.

Logically, customers would have bigger impressions in their mind when they have bad experiences reason companies work on strengthening and improving their customer experience team.

Learn more at : brainly.com/question/11437477

8 0
2 years ago
Question 4. The price of a bond with 4 years to maturity that pays interest of $12 each half-year is $106. What is the current y
n200080 [17]

Answer:

Face value of bond = 100

Years of maturity = 4

Market value = 106

Coupon frequency = 2

Semi annual coupon = 12

1. Current yield = Semi-annual * Coupon frequency / Market value

Current yield = 12 * 2 / 106

Current yield = 0.2264150943396226

Current yield =  22.64%

2. YTM = 2*Rate(Years of maturity*Coupon frequency, Semi annual, - market value, FV, 0)

YTM = 2*Rate(4, 2, 12, -106, 100,0)

YTM = 0.2168

YTM = 21.68%

3. Capital yield = Current yield - YTM

Capital yield = 21.68% - 22.64%

Capital yield = -0.96%

3 0
3 years ago
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