Which of the following is a characteristic of a perpetual inventory system?
a. inventory purchases are debited to a purchases account.
b. inventory records are not kept for every item.
c. cost of goods sold is recorded with each sale.
d. cost of goods sold is determined as the amount of purchases less the change in inventory.

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. income reported on the income statement for the year was $180,000. exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

Do you think a travel organization company might be able to get less expensive airline tickets then you as an individual could get? (no less then 25 words)

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are: