Business, 13.03.2020 00:57 billydeck30
Cumberland Co. sells $2,000 of inventory to Hancock Co. for cash. Cumberland paid $1,250 for the merchandise. Under a perpetual inventory system, which of the following journal entry(ies) would be recorded? a. debit Accounts Receivable, $2,000; credit Sales, $2,000; and debit Cost of Goods Sold, $1,250; credit Inventory, $1,250 b. debit Cash, $2,000; credit Inventory, $1,250 c. debit Cash, $1,250; credit Sales, $1,250 d. debit Cash, $2,000; credit Sales, $2,000; and debit Cost of Goods Sold, $1,250; credit Inventory, $1,250
Answers: 2
Business, 22.06.2019 22:00
Acompany's sales in year 1 were $300,000, year 2 were $351,000, and year 3 were $400,000. using year 2 as a base year, the sales percent for year 3 is
Answers: 2
Business, 23.06.2019 02:20
Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)
Answers: 1
Business, 23.06.2019 02:50
Anderson farms, inc. provided the following for 2018: cost of goods sold (cost of sales)$1,300,000beginning merchandise inventory340,000ending merchandise inventory630,000calculate the company's inventory turnover ratio for the year. (round your answer to two decimal places.)
Answers: 2
Business, 23.06.2019 12:00
Managers at flavors, a restaurant chain, train their employees such that in the absence of employees, someone trained in the same skills can step in and do the job equally well. thus, many modules in training are extensive as they provide employees with details of the skill sets required for different jobs. in practice, this lengthy training program does the company as a well-trained and flexible workforce is at their disposal at all times. the managers at flavors use a) job rotationb) vertical enhancementc) telecommutingd) job sharinge) flextime
Answers: 3
Cumberland Co. sells $2,000 of inventory to Hancock Co. for cash. Cumberland paid $1,250 for the mer...
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