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3 years ago

When products held in inventory are sold:

Business

1 answer:

Elanso [62]3 years ago

3 0

Answer:

C.)Finished Goods Inventory is credited.

Explanation:

The journal entry at the time of product sold which are held in inventory is shown below:

Cost of Goods Sold A/c Dr XXXXX

To Finished goods inventory A/c XXXXX

(Being the product sold is recorded)

For recording this transaction, we debited the cost of goods sold and credited the finished goods inventory account so that the correct posting could be done

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The MOST accurate way to establish reserves is to divide the cost of each item and piece of equipment by its expected useful lif

N76 [4]

Answer:

True

Explanation:

Reserve are the amount kept aside to replace the existing building or component over a period of time due to wear and tear. It is also know as reserve for replacement in real estate industry, it is considered as asset for the project. Replacement reserve does not include funds which are require for repairing and maintenance. Fund can be reserved by calculating cost of each item and equipment divided by its useful life in years.

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2 years ago

The new owner of a house needs hazard coverage for $98,000. The annual premium is $0.44 per $100.00 of the amount insured. The i

Kisachek [45]

Answer:

monthly insurance payments = $29.94

Explanation:

given data

hazard coverage = $98,000

annual premium = $0.44 per $100.00

cost of the policy = 2 ½ times annual rate for 3 year policy

solution

we get here first normal premium cost per year that is

normal premium cost per year = $98000 × 0.44 × $\frac{1}{100}$

normal premium cost per year = $431.2

and

insurance company is offering for new owner discount for purchasing a three year policy

so here the total cost for the three year is

total cost for the three = $431.2 × 2.5 = $1078

and now we get monthly insurance payments for 3 year is

monthly insurance payments = $\frac{1078}{36}$

monthly insurance payments = $29.94

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3 years ago

What are preferred stocks?

laiz [17]

Answer:

Preferreds are issued with a fixed par value and pay dividends based on a percentage of that par, usually at a fixed rate. Just like bonds, which also make fixed payments, the market value of preferred shares is sensitive to changes in interest rates. If interest rates rise, the value of the preferred shares falls

Explanation:

8 0

2 years ago

Social considerations beyond GDP are important, but they are difficult to quantify and they do involve __________value judgments

andriy [413]

Answer:

Snow fell from 6:30 a.m. to 11:00 a.m, accumulating at a constant rate. At 8:00 a.m., the snow was 8 inches deep. By 11:00 a.m., it was 20 inches deep.

How much snow fell each hour?

inches

How much snow was already on the ground at 6:30 a.m.?

Explanation:

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1 year ago

Novak Corp. has the following transactions during August of the current year.

Alinara [238K]

Answer:Please see answers in explanation column

Explanation:

Journal entry for Novak Corp during August

Date Account title Debit Credit

Aug 1 Cash $10,950

Common stock $10,950

Aug 4 Prepaid Insurance $1,020.

Cash $1,020.

Aug 16 Cash $780

Service revenue $780

Aug 27 Salaries expense $520

Cash $520

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2 years ago