Answer:
Required a. Record the general journal entries for the preceding transactions:
cash 12,000 debit
common stock 12,000 credit
--to record issuance of stocks --
inventory 5,600 debit
cash 5,600 credit
-- to record purhcase of inventory--
cash 5,712 debit
sales revenue 5,712 credit
COGS 3,360 debit
Invenotry 3,360 credit
--to record sale and subsequent cost--
advertizing expense 650 debit
cash 650 credit
Explanation:
We will post baed on the accounting principles:
debit = creidt
1)we debit cash and credit how we obtain the cash
2) we debit inventory and credit cash which is how we acquire the inventory (if it was o naccount it will be account payable)
3) we recognize the gain and the cash which was obtain for it.
also we recognize the expenses, which are the cost of the goods used so decrease inventory
4) we recognize the expense and decrease the cash used to pay for it.
Answer:
InfoScan.
Explanation:
A UPC is an acronym for universal product code. UPC is typically used for the identification of a specific product and its manufacturer (vendor) through a unique code that is printed on the product.
Basically, a universal product code (UPC) comprises of two (2) main parts;
A machine-readable barcode that contains sets of vertical black lines.
A unique twelve (12) digit number placed beneath or adjacent to the machine-readable barcode.
The first six-digits of the UPC represents the manufacturer and is printed on all of its products while the next five-digits is the product's unique reference number (item number) and the last digit is typically known as a check digit, used for the verification of the authenticity of a UPC.
Generally, the universal product code are usually scanned with a barcode scanner and this makes it easier to identify a product, as well as its price.
In this scenario, CVS pharmacy collects data from bar-coded products, which can be evaluated and combined to monitor its products that are in demand by customers. Also, this method is used to track pricing data to make sure that its pricing remains competitive among rivals. Thus, thiis is an example of InfoScan used for systemically scanning price information on products.
Answer:
yes i guess it is true they are examples
Answer: Insurance premium
Explanation: