1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
oksano4ka [1.4K]
2 years ago
8

The journal entry for the purchase of inventory on account using the perpetual inventory system is:.

Business
1 answer:
Solnce55 [7]2 years ago
7 0

The journal entry for the inventory purchased will be to record the sale and another one to record the cost of the sale.

<h3>What is a journal entry?</h3>

It should be noted that a journal entry is used to record the financial activities of a company.

In this case, the journal entry for the purchase of inventory on account using the perpetual inventory system is to record the sale and another one to record the cost of the good.

Learn more about inventory on:

brainly.com/question/24868116

You might be interested in
Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income statement based on this
Citrus2011 [14]

Question Completion:

Cash received from bank loans was $10,000.

Revenues earned and received in cash were $9,000.

Dividends of $4,000 were paid to stockholders.

Expenses incurred and paid were $5,600.

Answer:

Jiminez, Inc.

Income Statement for the month ended March 31:

Revenue                                          $9,000

Expenses                                           5,600

Net income                                      $3,400

Dividends                                          4,000

Retained earnings during the year ($600)

Explanation:

Jiminez, Inc. paid more dividends to stockholders this month than it actually generated in net income.  The excess amount of dividends must be from retained earnings carried forward from the previous month.  In preparing the income statement for the month of March, Jiminez, Inc. must deduct all the expenses from its revenue to obtain the net income before tax.  The bank loan does not form part of the items for the preparation of the income statement, as only temporary accounts are considered.

3 0
3 years ago
Which of these sentences is correctly written and punctuated? Keeping his active mind challenging Roosevelt improved his stamp c
Vladimir79 [104]
The seconds one is the correct answer
8 0
3 years ago
Which two investment options would be best if you are 20 year old, just starting to save, and want to retire when you are 70? Co
Murljashka [212]

Answer:

Diverisify

Explanation:

The best option would be to diverisify between various things. Part into a promising crypto such as Ethereum or Bitcoin. Part into some basic index funds such as the SPY (S&P500), some bigger tech companies such as Apple and finally a more risky investment into a stock or crypto which is only in the beginning of its age. If you would like protection against a crisis or similar you could buy some Put options for your stocks.    

3 0
2 years ago
Which of the following is an example of typosquatting? Group of answer choices A start-up investment company assumes the online
TiliK225 [7]

Answer:

An environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.

Explanation:

An example of typosquatting is an environmental support group creates a spoof of the advertisement of a popular beverage company, highlighting its degradation of the environment by releasing waste products into the water bodies near its bottling plant.

5 0
2 years ago
Cash paid to retire notes $ 112​ Common shares acquired for treasury 172​ Proceeds from issuance of preferred stock 254​ Proceed
arsen [322]

Answer:

$176 million

Explanation:

The calculation of net cash inflows from financing activities is shown below:-

Net cash inflows from financing activities

Proceeds from issuance of preferred stock $254 million

Proceeds from issuance of subordinated  bonds $292 million

Less: Cash dividends paid on preferred stock (86) million

Less: Cash paid to retire note ($112) million

Less: Common shares acquired for treasury (172) million

Net cash inflows from financing activities $176 million

The positive sign represents the cash inflow and the negative sign represents the cash outflow

6 0
3 years ago
Other questions:
  • The shelby cobra retails for ?$47 comma 68447,684 ?(all taxes? included. what are the monthly loan payments for the car if you m
    11·1 answer
  • If a firm bakes cookies and sells them for $1,000 while spending $100 on sugar, $150 on chocolate, $50 on other supplies, $300 o
    12·1 answer
  • Why do pre-construction and design specialists typically take an interdisciplinary approach to their work?
    15·1 answer
  • Jerry Rice and Grain Stores has $4,430,000 in yearly sales. The firm earns 2 percent on each dollar of sales and turns over its
    15·1 answer
  • Lagoon has two food stores Buck's and Combo's. It costs $1 to make one of Buck's bread loaves and $2 to make one of Combo's chee
    11·1 answer
  • One of the steps the U.S. Sentencing Commission delineated companies must implement to demonstrate due diligence is that a firm
    10·1 answer
  • The direct write-off method is used when: Multiple Choice Uncollectible accounts are not anticipated or are immaterial. A compan
    12·1 answer
  • g you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product
    11·1 answer
  • Suppose there are two economies, Alpha and Beta, which have the same production possibilities curves and are on the same point o
    5·1 answer
  • Terophone charge is debit or credit​
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!