Answer:
Refer explanation
Explanation:
1. Purchase of Inventory ($302000)
This transaction has occurred on account which means that payment was not made immediately but would be made at a future date, thus a creditor to the business.
Debit : Purchases account : $302000
Credit : Accounts Payables account : $302000
2. Sale of inventory ($504000)
The sale of inventory requires two separate transactions. The sale is accounted and along with this, the amount of inventory sold would also have to be accounted as an asset reduction.
A. To reduce inventory:
Debit : Cost of Sales account : $327000
Credit : Inventory account : $327000
B. Record the sale:
Debit : Accounts Receivables account : $504000
Credit : Sales account : $504000
This too is a sale on account which means that a debtor has been incurred who will pay for the sale at a later date.
Answer:
Private property rights and the market.
Explanation:
Answer: I think it’s false
Explanation:
Answer:
B. $323,900.00
Explanation:
Nper = 300 periods
Rate = 8%/12
FV = 0
PMT = $2500
Amount to be Accumulated = PV(Rate,Nper,PMT,FV)
= PV(8%/12,300,2500,0)
= $323911.31
Therefore, The amount to be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years is $323,900
.
Answer:
reduce output
Explanation:
The marginal cost ($26) is greater than the marginal revenue ($25). In order to maximise profit, marginal cost should he reduced up to the point where marginal cost equals marginal benefit.
A firm should shutdown, reduce production to zero if average variable cost is greater than price but in this question, the firm shouldn't shut down since price ($25) is greater than average variable cost ($24).
I hope my answer helps you
