Answer:
It is option d: Inventory and COGS.
Explanation:
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Inventory and Cost of Goods Sold (COGS) would appear in the income statement of a merchandise and service company.
Both the raw materials used in production and the finished commodities that are offered for sale are included in the definition of inventory. One of a company's most valuable assets is its inventory because it is one of the main sources of revenue generation and, consequently, a source of profits for the company's shareholders. There are three different categories of inventory: finished commodities, work-in-progress, and raw materials. On the balance sheet of a company, it is listed as a current asset.
To consign their inventory, several producers work with merchants in partnerships. Inventory held by a customer but owned by the supplier or producer (often a wholesaler) is known as consignment inventory (generally a retailer). Once the inventory has been sold to the final buyer or has been consumed, the customer purchases it (e.g., to produce their own products).
The fact that the client promotes and makes the provider's goods easily accessible to end consumers is advantageous to the supplier. The customer benefits because they wait to spend money until it is lucrative for them. This implies that they only buy it when the customer does, or until they need the inventory for their operations.
What is cost of goods sold?The cost of goods sold is a measure of the "direct cost" involved in producing any goods or services. It is directly related to revenue and includes material costs, direct labor costs, and direct factory overheads. The expenses incurred by the company in producing the products or rendering the services it offers are included in the cost of goods sold. These expenses may include the variable costs related to producing items, such as labor and raw materials.
Additionally, depending on the applicable accounting principles, they may also include fixed costs such as factory overhead, storage charges, and occasionally depreciation expenditure.
It excludes general selling costs like managerial salaries and marketing expenditures.
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If James' records show $70,000 in revenue, $34,000 in liabilities, $90,000 in assets and $19,000 in equity, which of the figures should be included on his income statement
The figure that should be involved in the income statement is $70,000.
Given that,
The revenue is $70,000.The liabilities are $34,000.The asset is $90,000.The equity is $19,000.We know that in the income statement only revenues & expenses are recorded.
Therefore we can conclude that The figure that should be involved in the income statement is $70,000.
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Which of the following statements regarding the differences between managerial accounting applications for manufacturing and service companies is not true?
a. Overhead is an indirect cost incurred in serving customers in a service company.
b. Labor may be a direct cost to customers for a service firm.
c. Service companies require a physical production site.
d. Service companies may use cost of services on the income statement rather than cost of goods sold.
Answer:
Option C) Service companies require a physical production site is not a true statement.
Explanation:
Service companies require a physical production site is not a true statement.This is because service companies are engaged in providing service to their customers/clients.Providing services does not require a physical production site, because no production is generally involved in relation to the rendering of the services.Learn more about service company, refer :
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The following transactions were completed by the company.a. The company completed consulting work for a client and immediately collected $5,500 cash earned.b. The company completed commission work for a client and sent a bill for $4,000 to be received within 30 days.c. The company paid an assistant $1,400 cash as wages for the period.d. The company collected $1,000 cash as a partial payment for the amount owed by the client in transaction b.e. The company paid $700 cash for this period's cleaning services.Required:
Write the impact of each transaction on individual items of the accounting equation.
Answer:
The payment of cash decreases the cash account balance and increase the expenses account.
Explanation:
A) The cash earned will increase the balance of cash in the asset and the revenues of the equity will also be increased.
B) The company completed the commission work and sent a bill to the customer, the bill amount is $4,000.
C) The company paid the wages to the assistant in cash. The balance in the cash account will be reduced and the expenses account balance will be increased by $1,400.
D) The company collects the cash of $1,000 from the customer, which the customer needs to pay for the company. Therefore, the accounts receivable account will be decreased of ($1,000) and the cash account will be increased for $1,000.
E) The company paid $700 as cash for the cleaning services. Therefore, the cash account balance will be decreased and the expenses account will be added to determine the total expenses made by the company for $700.
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how legislation can contribute to the success and failure of companies
Which three things does money help people do in an economy?
(Select three answers.)
Remove value
Exchange commodities
Measure the value of commodities
Store value
Avoid inflation
Increase inflation
Hide the price of a commodity
Answer:
measures the value of commodities
store value
increase inflation
Explanation:
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Answer:
Exchange commodities , Measure the value of commodities , Store value
Explanation:
Which of the following control objectives is achieved by reviewing and testing control procedures over physical inventory count?
A) Validation of purchase transactions
B) Verification of existence of inventory
C) Authorization of the manufacturing orders
D) Posting and summarization of inventory transactions
How goal succession takes place? Explain the conditions responsible for goal succession.
Suppose that you are able to buy papaya at the wholesale price of $1/lbs and sell it for $4/lbs. Suppose demand is Poisson-distributed with a mean of 100? Which of the following is true?
a. The optimal stocking level is higher than 100
b. The optimal stocking level is lower than 100
c. The optimal stocking level is equal to 100
three reasons for the looting of shops and malls
a method for screening applicants and identifying the most appropriate candidate is called what?
recruiting
advertising
the selection process
performance appraisal.
Answer:
the selection process is the ans
Your firm wants to borrow $1 million and repay this loan in 10 equal annual installments. The first installment will be one year from now. The bank charges an interest rate of 10%. What will your annual installment be? (Hint: the present value of your payments using a discount rate of 10% should equal the amount you borrow) Enter the answer with two decimal points
Answer:
110,000 dollars a year for ten years
Explanation;
100,000 x .10 = 10,000
10,000 + 100,000 = 110,000
110,000 dollars a year for ten years the amount you borrow) Enter the answer with two decimal points.
What is the Amount?The size or quantity of non-count nouns is indicated by the word "amount." You can count the volume of air in a bottle or the volume of water in a beaker, for instance. The amount can be a noun or a verb, as was said above. Use of the noun: Add a little water to the dish. The dogs require various amounts of food, noun use. It is three bucks and change, to be exact.
EMI = [P x R x (1+R)N]/[(1+R)N-1] is the formula for computing EMIs. P denotes the loan amount or principle, R denotes the monthly interest rate (for example, if the annual interest rate is 11%, the monthly interest rate will be 11/(12 x 100)), and N denotes the number of monthly payments.
100,000 x .10 = 10,000
10,000 + 100,000 = 110,000
Therefore, The sum you borrow) Type the Amount response using two decimal places.
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Do you think that restaurants that cater primarily to business travelers, rather than vacation travelers, would connect with their clients differently? Explain your answer. Please use complete sentences and paragraphs( 3).
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Where is Nova City Islamabad located? Also is it under progress or has the development been completed?
Answer:
Nova City is a prime location in Islamabad
Explanation:
It is a few kilometers away from the New Islamabad International Airport. It is right next to CPEC Ring Road Interchange and is at the center of twin cities.
The project is not yet launched, but the development of the infrastructure has started that will attract the investors towards the project.
A financial institution and a business establish an arrangement that defines a maximum loan balance the institution allows the business to maintain. What banking service is this an example of?
a. Line of credit
b. Certificate of deposit
c. Letter of credit
d. Revolving credit
How to deal with the new weekly invite limits?
Answer:
The new LinkedIn invite limits are affecting the marketing efforts of many businesses. However, don’t worry! There are some high-quality LinkedIn automation tools that have features to solve this problem.
Using Email Invites Send Personalized MessagesAnswer:
You're under a weekly limit of new invites.
...
You can also try:
First restriction - Wait a few hours before you try again.
Multiple restrictions a day - Wait a few days to try again. ...
If you have a lot of pending invites, withdraw all of them except the recent 500 and then try again – How to cancel sent pending invites?
орг. Explain the stages in career development plan.
Explanation:
About modern career development, there are six stages of modern career development : Assessment , investment , preparation, commitment , retention, and transition .
assessment: in the assessment you are getting ready for life's works. you started to feel like you want to know more about yourself and make a conscious effort to get in touch with you who you really you are.
key task:
Taking assessment instruments. Working with the career counselor or career cough.Investment: In the investment sage you are researching that work exits in the world. But if you approach this stage with the positive frame of mind,you will you find that you will learn that possibility you may have considered.
key tasks:
researching the world of tasks.how will the cpi influence the economy?
Explanation:
When the CPI is rising it means that consumer prices are also rising, and when it falls it means consumer prices are generally falling. In short, a higher CPI indicates higher inflation, while a falling CPI indicates lower inflation, or even deflation.
The heat of the welding can reach about how many Fahrenheit?
Answer:
10,000 degrees Fahrenheit
what is 2 + 5
help
pls
Nếu tổng sản lượng quốc gia: 4.000; Thu nhập khả dụng: 3.000; Ngân sách chính phủ thâm hụt 100; Tiêu dùng của các hộ gia đình: 2.500; Cán cân thương mại thặng dư 100 thì chi tiêu của chính phủ cho hàng hóa và dịch vụ phải là bao nhiêu
Answer:
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Explanation:
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which type of comprehension focuses on who, what, where,when,why
Answer:
Literal Comprehension
The file manager is a user . is an example of a file manager in Microsoft Windows.
Answer:
Windows Explorer is known as file manager in the MS Windows. Explanation: File Explorer is previously known as the Windows Explorer that is the file manager application which is included with the releases of Microsoft Windows OS(Operating System) from the Windows 95.
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Refer to Exhibit 3-8. A price of $5 will result in a ___________________ in this market which will cause the price of the product to gravitate _______________.
Complete diagram of Exhibit 3-8 is attached below
We have that the blanks are Shortage and Upward giving the answer to be
A price of $5 will result Shortage in a in this market which will cause the price of the product to gravitate Upward
Referring to Exhibit 3.8 we have a Price in dollars to Quantity graph
Price
A price is the quantity of compensation given by one party to another in return for one unit of goods or services. If the product is a good in the commercial exchange, the price of this product will be called price.
Quantity
Aka amount is a property that can exist as a multitude or magnitude, which illustrate discontinuity and continuity. Quantities can be in terms of Mass,Number or size
Therefore have the Knowledge of Quantity and price
We conclude that
A price of $5 will result Shortage in a in this market which will cause the price of the product to gravitate Upward
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BREIFLY EXPAIN THE WEEKNESSES OF RSA INDUSTRAIL DEVELOPMENT ZONES
Answer:
Disadvantages
Revenue losses because of the various tax exemptions and incentives.
Many traders are interested in SEZ, so that they can acquire at cheap rates and create a land bank for themselves.
The number of units applying for settimg up EOU's is not commensurate to the number of applications for setting up SEZ's leading to a belief that this project may not match up to the expextions.
Hope it helps you.what is amortization?
Answer:
is the spreading payments over multiple periods.
Explanation:
The term is used for two separate processes: amortization of loans and amortization of assets. In the latter case it refers to allocating the cost of an intangible asset over a period of time.
The term is used for two separate processes: amortization of loans and amortization of assets. In the latter case it refers to allocating the cost of an intangible asset over a period of time.
Formula
FormulaAmortization calculator
[tex]a = p \frac{i(1 + i) {}^{n} }{(1 + i) {}^{n} - 1 } [/tex]
A = periodic payment amount
A = periodic payment amountP = amount of principal, net of initial payments
A = periodic payment amountP = amount of principal, net of initial paymentsi = periodic interest rate
A = periodic payment amountP = amount of principal, net of initial paymentsi = periodic interest raten = total number of payments
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Speedy has net income of $31,955, and assets at the beginning of the year of $213,000. Assets at the end of the year total $259,000. Compute its return on assets.
what is industrialization
Answer: Industrialisation is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an economy for the purpose of manufacturing
Explanation:
Answer:
Industrialization is the process through which an agrarian (farm-based) economy transforms into one based on mass manufacturing. Before the 1800s, human society was mostly organized around rural economies with a focus on farming.
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An organization that provides goods and services while seeking to operate at a profit is atn)
(Enter one word in the blank)
The organization where the goods & services should be operated for profit is known as the business.
The following information related to the business is:
It is an organization or the company where the entity should be engaged in commercial activities, industrial activities, etcIt is the efforts & activities of an individual or the company that generated the production and sale of the goods and services for the profit purpose.Therefore we can conclude that The organization where the goods & services should be operated for profit is known as the business.
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ways in which Shoprite could deal with right to dignity in the workplace
Answer:
Creating high supervision on workers routine.
Mihee's old job was to answer phones in a call center. Her job was redesigned, and now she also does customer surveys. This is an example of
Answer:
Job Enlargement
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