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Artemon [7]
3 years ago
11

If a company uses the periodic inventory system, what is the impact on net income of including goods in transit f.o.b. shipping

point in purchases, but not ending inventory
Business
1 answer:
stealth61 [152]3 years ago
4 0

Answer:

Net Income will be undervalued.

Explanation:

In a Free on Board shipping (FOB) the Buyer assumes all risks and rewards of ownership of the goods purchased when the goods have been loaded or passed the shipping rail.

The costs incurred at Free on Board shipping (FOB) must be included in both the Purchases and Ending Inventory. If the cost is not included in ending inventory, this means Cost of Sales will be overvalued and consequently Gross Profit and Net Income will be undervalued.

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Should students who get in fights pay a find? <br><br> A rule at my school
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3 years ago
Read 2 more answers
____________ involves a review of the sales, costs, and profit projections for a new product to find out whether they satisfy th
serg [7]

Answer:

Business analysis

Explanation:

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Business analysis refers to a strategic process that typically involves a review of the sales, costs, and profit projections for a new product in order to find out whether the product is in tandem with the objectives of the company.

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5 0
3 years ago
What is the three part process for problem solving\?
ch4aika [34]
The three part process for problem solving are:
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8 0
3 years ago
Suppose workers notice a fall in their nominal wage but are slow to notice that the price of things they consume have fallen by
kvasek [131]

Answer:

The correct answer is <em>Temporarily low and so supply a smaller quantity of labor</em>.

Explanation:

The inflation index is a variable that takes little to be identified by people. Although the price of products may have volatile movements, a decrease in the first place will lead to "Normal" behavior, which is expected to increase in the future.

In terms of work, it influences negatively because employees will feel little commitment and will be discouraged to see a decrease in their income.

7 0
3 years ago
Mr. and Mrs. Kim, married filing jointly, own a principal residence and a vacation home. Each residence is subject to a mortgage
Evgen [1.6K]

Answer:

$53,577

Explanation:

Computation for Mr. and Mrs. Kim's qualified residence interest

Using this formula

Qualified residence interest=(Acquisition debt ÷ Total debt) ×Total interest

Where,

Total Acquisition=$ 969,800+ 361,000

Total Acquisition=$1,330,800

Total debt =$ 45,000 +26,300

Total debt=$71,300

Let plug in the formula

Qualified residence interest=(1,000,000÷$1,330,800)×$71,300

Qualified residence interest=$53,577

Therefore the Qualified residence interest is $53,577

3 0
3 years ago
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