Answer:
Closing Inventory value is $3,485.
Explanation:
FIFO is the inventory costing method which assumes that the item purchased earlier will be sold first and the item purchases at last will be sold at last.
According to FIFO the inventory cost of McCarthy Company is as follow:
Date Description Price Unit Total Balance
October 1 Opening $200 8 $1,600 $1,600
October 2 Purchases $205 20 $4,100 $5,700
October 4 Sales $200 8 $1,600 $4,100
Sales $205 3 $615 $3,485
Closing Inventory value is $3,485.
Answer:
Gross Income is the answer!
Explanation:
Answer:
$120,669
Explanation:
Ending Retained Earnings = Opening Retained Earning + Net Income - Dividends
therefore,
Ending Retained Earnings = $90,369 + $46,300 - $16,000 = $120,669
thus,
Ending balance in Retained Earnings be next year will be $120,669
Answer:
e. diversity-focused
Explanation:
-Ethical culture refers to a culture in which people behave according to the group of values and standards set by the organization.
-Friendly is a culture where there is a good working environment in which people are nice and kind.
-Innovative is a culture in which leaders motivate people to think differently and propose new things.
-Customer-responsive is a culture in which people focus on taking care of customer's needs.
-Diversity-focused is a culture in which the company is open to people with different backgrounds where there is freedom to offer new perspectives that allows to generate debate and people is more willing to take risks.
According to this, the answer is that the type of culture that would most likely include characteristics such as openness, freedom, debate, and risk-taking is diversity-focused.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the given data are as follows:
Investing in business = $40,000 in exchange of common stock
This shows that, when investing in business cash is being debited and as cash is being used to buy common stock so, Common stock is being credited in journal entry.
So, the journal entry that Innovation consulting will make are as follows::
Journal Entries
Particulars Debit Credit
Cash $40,000.00
To Common stock $40,000.00
Hence, this shows the correct answer is option (B).
