The consolidated cost of goods sold for 2021 is $6,092,800.
A goods is an object that satisfies a human need and provides benefits to consumers and others who purchase satisfactory products. A distinction is generally made between transferable goods and non-transferable services.
Merchandise is the tangible item sold to the customer and service is the task performed for the benefit of the recipient. Examples of products include automobiles, appliances, and clothing. Examples of services include legal advice, house cleaning, and consulting his services.
Commodities can be anything from commodities, supplies, raw materials to finished products
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Answer:
c. flexible-price
Explanation:
A flexible pricing policy provides room for the business and the customer to negotiate for the final price of a product. In other words, the price indicated on the item is not fixed. The seller and buyer can agree to alter it either upwards or downwards.
A flexible pricing strategy enables a business to adjust its prices to suit the market demand. It will allow a company to counter low prices by competitors in cases of price wars. In some instances, businesses set slightly high prices to provide for negotiations. Flexible pricing is common, especially in tailor-made products.
Answer:
$85 per share and $35 per share
Explanation:
According to the scenario, computation of the given data are as follow:-
We can calculate the par of shares by using following formula:-
Corporation’s Preferred Stock‘s Par Value is
= Preferred Equity ÷ No. of Preferred Outstanding Shares
= $85,000 ÷ 1,000
= $85 per share
Corporation’s Common Stock‘s Par Value is
= Common Equity ÷ No. of Common Outstanding Shares
= $140,000 ÷ 4,000
= $35 per share
Answer:
Balance sheet extract:
Intangible assets:
Copyright 1 $0
Copyright 2 $48,000
Explanation:
The points to note in the question are enumerated as follows:
An internally generated intangible asset cannot be capitalized.By capitalization ,I mean its costs is treated as intangible asset to be amortized over its useful life.As a result,the $16,000 incurred on the internally generated intangible asset,specifically,the first copyright should be treated as expense when incurred.
However,the second copyright that was bought from University Press can be treated as asset but cannot be amortized since it has indefinite life,but would be tested for impairment on a yearly basis,with impairment losses charged to profit or loss account.
