Inventory depreciation due to theft, damage or obsolescence discovered during the physical count of inventory at the end of the accounting period is recorded with a decrease in inventory only in the perpetual system.
Depreciation Inventory is defined as the difference between the amount of inventory listed on the books and the actual inventory that is physically present; Such depreciation usually occurs due to theft, damage, or miscalculation.
If you own your own retail business, you may face theft, shoplifting, or other forms of fraud, leading to unexpected inventory losses. Loss of inventory is a huge problem for any business that carries physical goods. Without control and monitoring, there is no way to track down the root cause of inventory shrinkage in your business.
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Answer:
Randa Merchandising, Inc.
1. Indication of where each of the following income-related items for this company appears on its 2017 income statement.
Income Statement
1. Net Sales
2. Cost of goods sold
3. Depreciation expense
4. Income taxes expense
5. Gain on state's condemnation of company property, net of tax
6. Gain on sale of wholesale business segment, net of tax
7. Loss from operating wholesale business segment, net of tax
8. Loss of assets from a meteor strike, net of tax
Explanation:
Randa's income statement is prepared using a step-by-step approach. It starts with the net sales from which the cost of goods sold is deducted to arrive at the gross profit. Thereafter, the operating expenses are deducted to obtain the operating income. Based on this, income taxes are computed before arriving at the operating income after taxes. And then, the extraordinary items are disclosed (net of taxes) before arriving at the net income.
Answer: Option D
Explanation: Culture jamming refers to a strategy that is used by non-consumer social protests to undermine or suppress media environment and its dominant public institutions, namely corporate propaganda.
Culture jamming refers to a method of subvertising. Many cultural jams are meant to disclose the advertisement tradition to debatable political assertions. Culture jamming utilizes the tactic of diversion, which thinks in terms and imagery of the dominant model or heritage to attack the framework or heritage in a provocative way.
Thus, from the above we can conclude that the correct option is D.
