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2 years ago

Cost of goods sold is determined only at the end of the accounting period in.

Business

1 answer:

sladkih [1.3K]2 years ago

7 0

<h3>Answer:</h3>

Under the periodic inventory system.

What is periodic inventory system?

Under the periodic inventory system, the cost of goods sold determined at the end of an accounting period by adding the net cost of goods purchased to the beginning inventory and subtracting the ending inventory.

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True or false? Individual electronic components can be combined into larger groups, called diodes, to increase their usefulness.

Butoxors [25]

This is False.

A diode is something completely different, but can be found in a computer and is an important electronic part.

8 0

3 years ago

Indicate how each of the following transactions affects U.S. exports, imports, and net exports.

Oxana [17]

Answer:

export import net export

1. increases unchanged increases

2. unchanged increases decreases

3. unchanged increases decreases

4. unchanged increases decreases

5. increases unchanged increases

Explanation:

export would comprise of goods and services produced in the US that are been sold to foreign countries

Import would comprise of foreign produced goods and services that are been sold in the US

Net export would increase when export occurs and decrease when import occurs

Net export = exports – imports

When the French historian visits the US museum and the European family visits Disney, they are enjoying US services, thus export increases and net export increases

The purchase of books from Cambridge in UK, Panasonic camera and the visit to Japan constitutes import. These increases import and reduces net export

7 0

3 years ago

A 14-week construction activity requires a crane that rents for $1,000 per week and a crew of general laborers that costs $5,000

Helen [10]

Answer: C) $2,000 per week.

Explanation:

The slope of the project refers to the additional amount that it would cost to be able to finish the project faster than schedule.

In the question, the construction activity is for 14 weeks at a rate of $5,000 for the laborers per week. If you wanted to reduce this project duration to 10 weeks, you will have to spend an additional $2,000 more per week.

This $2,000 is therefore the slope of the activity.

3 0

3 years ago

Provide the names of two (a) asset accounts, (b) liability accounts, and (c) equity accounts.

tamaranim1 [39]

Answer:

two (a) asset accounts

Cash and cash equivalents, which is the most liquid asset.
Inventory, which are the goods that the company buys or produces, to sell later on, and make a profit.

two libability accounts

Acconts payable, which is the money that the company owes.
Unearned revenue, which are revenues for goods or services that have not been delived yet.

two equity accounts

Common stock, the most typical form of equity.
Retained earnings, income that is left after paying dividends.

Explanation:

3 0

3 years ago

On January 1, 2021, White Water issues $570,000 of 7% bonds, due in 10 years, with interest payable annually on December 31 each

monitta

Answer:

White Water

1. Schedule

Date Cash Paid Interest Expense Increase in Carrying value FV

01/01/2021 0 $570,000.00

12/31/2021 $39,900.0 $39,900.00 0 $570,000.00

12/31/2022 $39,900.0 $39,900.00 0 $570,000.00

2. January 1, 2021:

Debit Cash $570,000

Credit 7% Bonds Payable $570,000

To record the issue of bonds for cash.

December 31, 2021:

Debit Interest Expense $39,900

Credit Cash $39,900

To record the first interest payment.

December 31, 2022:

Debit Interest Expense $39,900

Credit Cash $39,900

To record the second interest payment.

Explanation:

a) Data and Calculations:

Face value of 7% bonds = $570,000

Proceeds from the bond issue = $570,000

No premiums, no discounts on bonds.

Coupon interest rate = 7%

Market interest rate = 7%

6 0

3 years ago