When using a periodic inventory system, which statement concerning the computation of cost of goods sold is correct? A.Cost of goods available for sale includes net purchases plus the ending inventory. B.The amount of ending inventory is determined on the last day of the accounting period, C.Purchases represent cash paid for purchases during the accounting period. D.Freight-in is ignored.

Answers

Answer 1

The correct statement concerning the cost of goods sold in the periodic inventory system is statement (B) the amount of ending inventory is determined on the last day of the accounting period.

What is a Periodic inventory system?A system of inventory known as periodic inventory has updates made on a regular basis. This contrasted with perpetual inventory systems, where adjustments are made as necessary.On the final day of the accounting period, the ending inventory is calculated.No attempt is made in a periodic inventory system to maintain current records of either the inventory or the cost of products sold. Instead, these sums are only periodically determined, typically at the conclusion of each year. The quantity of inventory shown on the balance sheet is based on this physical count. The cost of items sold for the entire year is then calculated using a simple formula.

Therefore, the correct statement concerning the cost of goods sold in the periodic inventory system is statement (B) the amount of ending inventory is determined on the last day of the accounting period.

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Related Questions

what are the five steps of most mbo programs? how can companies use job enrichment as a method for motivating employees? what is behavior modification and how is it used in organizations?

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Companies can use job enrichment as a method for motivating employees by giving them more responsibilities and opportunities to learn and grow in their role. This can involve providing training, increasing autonomy and decision-making authority, and allowing employees to work on projects that align with their interests and strengths.

The five steps of most MBO (Management by Objectives) programs are as follows:
1. Setting objectives: This involves setting specific and measurable goals for employees, which are aligned with the overall goals of the organization.
2. Developing action plans: This step involves developing a plan of action that outlines how the objectives will be achieved.
3. Monitoring progress: Regular check-ins are required to track progress towards the objectives and identify any obstacles that may be hindering progress.
4. Performance evaluation: At the end of a set period, performance is evaluated based on the extent to which objectives were achieved.
5. Feedback and rewards: Feedback is provided to employees on their performance, and rewards are given to those who have achieved their objectives.


Job enrichment can increase job satisfaction, motivation, and engagement, which can lead to improved performance and productivity. Behavior modification is a technique used in organizations to change employee behavior through positive or negative reinforcement.

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PLEASE HELP! I'M TIMED!! WILL GIVE BRAINLIEST IF CORRECT!!

Charis is an administrative professional for four managers. As she distributes the workload each week, which is MOST important to take into consideration?

which manager was nicer to her last week

how much each manager likes (or dislikes) working with specific employees

each manager’s travel schedule

how long each manager has worked at the company

Answers

The answer is D, or How long each manager has worked at the company. Please give brainliest if this is correct. Hope this helps!

a three-year bond with $1,000 face-value and 10% coupon rate is sold for $1,000 today. if one year later the market interest rate increases to 15%, then this bond will have a market price of next year. a. $956.52 b. $1092.97 c. $918.71 d. $1047.62

Answers

If one year later the market interest rate increases to 15%, then this bond will have a market price of $1092.97 of next year.

The term" request interest rate" refers to the effective interest rate on a fixed- rate profit obligation that the state has issued to fund a loan made under this section, or, if the department of administration determines that there has been a significant change in interest rates since the fixed- rate profit obligation was issued, the effective interest rate that the department of administration has determined.

Bonds are fixed- income securities that reflect loans from investors to borrowers( generally commercial or governmental). A bond can be compared to an agreement outlining the terms of the loan and the associated payments between the lender and borrower. Companies, cosmopolises, countries, and autonomous governments use bonds to finance operations and enterprise. Bondholders are the issuer's debtors or creditors.

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An international business is a firm that
Part 2
A. hires​ non-U.S. citizens.
B. produces a wide range of products.
C. is not from the United States.
D. engages in international trade or investment.

Answers

Option D: An international business is a firm that engages in international trade or investment.

Therefore, the correct answer is option D. An international business is a company that conducts business across national borders. This can include importing and exporting goods, investing in foreign markets, and operating in multiple countries.

It is not necessarily defined by the nationality of its employees, the range of products it produces, or the country in which it is headquartered. International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries.

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willow creek company purchased and installed carpet in its new general offices on march 30 for a total cost of $7,920. the carpet is estimated to have a 10-year useful life and no residual value. question content area a. prepare the journal entry necessary for recording the purchase of the new carpet.

Answers

To record the purchase of the new carpet for Willow Creek Company, you need to create a journal entry. Here's how you can do it:

1. Debit the "Office Equipment" account for the total cost of the carpet, which is $7,920.
2. Credit the "Cash" or "Accounts Payable" account for the same amount, $7,920.

The journal entry would look like this:

Office Equipment        $7,920
    Cash/Accounts Payable        $7,920

This entry increases the value of the "Office Equipment" asset account and decreases either the cash or accounts payable account, depending on whether Willow Creek Company paid for the carpet in cash or on credit.

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A simple machine has efficiency 90%.What does it mean?No machine has 100%efficiency,Why?​

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Answer with explanation:

1) it means tht the machine can do it's work in a 90% in a good way

2) no machine is free from the effects of gravity, and even with wonderful lubrication the energy a machine produces is always less than the work put into it that's why 100% efficency isnt possible in machines.

Best of luck!!!

Give an example of the most recent fiscal policy action, if any,by the US Government agency such as the Federal Reserve's Monetarypolicy action.

Answers

The most recent fiscal policy action taken by the US government agency is the passage of the American Rescue Plan Act in March 2021. This act provided $1.9 trillion in economic relief, including direct payments to individuals, extended unemployment benefits, aid to small businesses, funding for vaccines and COVID-19 testing, and support for state and local governments.

The Federal Reserve's most recent monetary policy action was in June 2021, where they maintained their target interest rate range of 0-0.25% and continued their asset purchase program to support the economy during the ongoing COVID-19 pandemic.  A recent example of a fiscal policy action taken by the US government is the American Rescue Plan Act, signed into law in March 2021. This $1.9 trillion economic relief package aimed to combat the negative impacts of the COVID-19 pandemic by providing direct payments to individuals, extending unemployment benefits, and allocating funds for small businesses, schools, and vaccine distribution. The Federal Reserve's monetary policy actions are separate from fiscal policy, as they involve adjusting interest rates and controlling the money supply to influence the economy.

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anyone can do this?

anyone can do this?

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I love your profile pic ( ༎ຶŎ༎ຶ )

Answer:

Her car

Explanation:

She would have to give up the title of her car because she is borrowing money from a title pawn lender. She'd borrow up to 100-5,000, then she's have to give up her title to her car.

the use of peer-to-peer services such as uber is an example of this type of economy: group of answer choices progressive socialistic sharing unplanned

Answers

The use of peer-to-peer services such as Uber is an example of the sharing economy. The sharing economy, also known as the collaborative economy or the gig economy, is a socio-economic system in which individuals can share resources, goods, or services directly with each other through online platforms or marketplaces.

In the case of Uber, individuals can use their personal vehicles to provide transportation services to others through the Uber platform. This allows for a more efficient utilization of existing resources (private vehicles and drivers) and provides an alternative to traditional taxi or transportation services. The sharing economy has gained popularity and has disrupted various industries, including transportation, accommodation (e.g., Airbnb), and other services. It offers benefits such as increased flexibility, cost savings, convenience, and access to a broader range of services. However, it also raises questions and challenges related to regulation, labor rights, consumer protection, and the overall impact on traditional industries and employment.

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carmen wants to open her own coffee shop. she has narrowed down a list of wholesale retailers and their cost per pound of coffee beans. whole sale company cost per lb. café con leche $8.50 beans brothers $7.50 colombian co. $11.25 turkish coffee company $6.25 which company has the comparative advantage in cost per pound of coffee? café con leche beans brothers colombian co. turkish coffee company

Answers

Turkish Coffee Company has the comparative advantage in cost per pound of coffee at $6.25. They offer the lowest price among the listed wholesale retailers.

This means that Carmen would benefit the most by purchasing coffee beans from Turkish Coffee Company to minimize her costs and maximize her potential profit margin. By selecting the supplier with the lowest cost, Carmen can secure a competitive advantage and potentially offer more affordable pricing or higher profit margins in her coffee shop. Comparative advantage refers to the ability of a producer or company to produce a good or service at a lower opportunity cost compared to others. In this case, Turkish Coffee Company has the lowest cost per pound of coffee beans at $6.25, indicating that they can produce coffee beans more efficiently or at a lower cost compared to the other wholesale retailers. By choosing Turkish Coffee Company as her supplier, Carmen can take advantage of their cost advantage to reduce her expenses and potentially offer competitive pricing or higher profit margins in her coffee shop.

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How are scarcity and the laws of supply and demand connected?

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Answer:

Scarcity and supply and demand are connected because they determine how much the product costs. First of all, scarcity describes supply. If a product is scarce and demand is high, the supplier would raise the costs for the product, but if there is plenty of supply, and low demand, the supplier would decrease the costs.

Suppose a heap is stored in an array list as follows: {121, 46, 100, 32, 42, 84, 99}. After deleting 121, what is the content of the array list

Answers

The content of the array list after deleting 121 from the heap depends on the method used to delete it. If we use the typical method of deleting the root node, which is the largest element in a max heap, we would first replace 121 with the last element in the heap, which is 99.

Then we would "bubble down" 99 until it finds its proper place in the heap. After this operation, the new heap would be {99, 46, 100, 32, 42, 84}. If we use a different method of deleting 121, such as removing it from the array list and then reconstructing the heap from the remaining elements, the result would be different. In this case, we would need to rearrange the remaining elements in the array list so that they satisfy the heap property.

After doing this, the new heap could be any permutation of the remaining elements {46, 100, 32, 42, 84, 99}. In any case, the long answer is that deleting an element from a heap can affect the entire structure of the heap, so the resulting array list after deletion will depend on the method used to delete the element.

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Which is better Canes or Zaxbys?

Answers

Canes because they are just better
canes cus they are better ofc ☝️

Who would be called upon to fix the following problem? The network at the U.S. embassy in Brazil has suddenly crashed.
Diplomatic Security Special Agent
information Management Specialist
Foreign Service Officer
economic Officer​

Answers

An information management specialist would be the one to fix an issue with a network.

according to the long-run phillips curve, in the long run monetary policy influences

Answers

Answer: only in the short run.  According to the long-run Phillips curve, in the long run monetary policy influences. the inflation rate but not the unemployment rate.

Explanation:

Match the tasks with the professionals who would complete them.

Match the tasks with the professionals who would complete them.

Answers

Meteorologist: measure the temp and humidity, creates charts and graphs to educate the public
Videographer: use editing softwares, discuss filming techniques
Network administrator: train users how to use the system, determine ways to make the system more effective
Hope this helps!

Answer:

Explanation:

1,3 and 2,4 and 5,6 and thats it

Describe in detail from your chapter's lesson " Managing
Technical Team"s, the process of your team project, IT system
project, and teamwork lessons learned throughout each phase of the
project.

Answers

A successful project completion requires effective management of the team, and the project management process itself. Some of the key steps involved in the management of a technical team, an IT system project, and teamwork lessons learned throughout each phase of the project include:

Technical team management involves several key components that must be effectively managed for a successful project. Team members must have clear roles and responsibilities, understand what is expected of them, and have effective communication with one another. Effective communication is critical throughout all phases of the project, and effective communication requires active listening, clear and concise language, and the ability to provide and receive feedback.

IT system project management involves several key components that must be effectively managed for a successful project. These include planning and executing the project, monitoring the progress of the project, and managing risks and issues that may arise throughout the process. In addition, the project manager must be able to identify the scope of the project, establish clear goals and objectives, and manage the project budget and resources.

Teamwork lessons learned throughout each phase of the project involve the importance of clear communication, establishing clear roles and responsibilities, and ensuring that everyone understands what is expected of them. Team members must also be able to work collaboratively, share information, and provide feedback to one another. It is important to have a strong sense of team spirit, and to be willing to help one another when needed. Additionally, it is essential to establish clear expectations for performance, set achievable goals and objectives, and recognize team members for their accomplishments.

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many project management activities occur as part of the planning process group. T/F

Answers

True. In project management, the planning process group is one of the five process groups that include initiating, planning, executing, monitoring and controlling, and closing. The planning process group is where most of the project management activities occur, and it involves the creation of a project management plan that outlines how the project will be executed, monitored, and controlled. The project management plan includes various subsidiary plans such as the scope management plan, schedule management plan, cost management plan, quality management plan, risk management plan, and stakeholder management plan, among others.

During the planning process group, project managers identify the project objectives, scope, deliverables, and requirements. They also develop a project schedule, budget, and resource plan. In addition, they create a risk management plan that identifies potential risks and outlines strategies for managing them. Other activities that occur during the planning process group include defining project roles and responsibilities, creating a communication plan, and obtaining approvals from stakeholders.

In summary, the planning process group is critical to project success, and it involves a range of project management activities that enable project managers to plan and execute projects effectively.

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What is the first step of the business impact assessment process?
A) Identification of priorities
B) Likelihood assessment
C) Risk identification
D) Resource prioritization

Answers

Answer:

The Answer is D

Explanation:

It is D because you will have to organize your tasks before you do anything else.

Investment 2 Study questions Practice Questions: 1. On January 1, Stacy's portfolio was valued at $96,534. During the year Stacy received $3,285 in interest and $4,100 in dividends. She also sold one stock at a gain of $850. The value of the portfolio on December 31 of the same year was $113,201. At the end of June, Stacy withdrew $5,000 from the portfolio. What is the holding period return for the year? (refer slides for the formula) Sol: 25. 8% 2. Six months ago, Suzanne purchased a stock for $28 a share. Today she sold the stock at a price of $32 a share. During the time she owned the stock, she received a total of $1. 30 in dividends per share. What is her holding period return? Sol: 18. 9% 3. On January 1, Tim's portfolio was valued at $432,098. During the year Tim received $10,563 in interest and $15,060 in dividends. He also sold stock at a net loss of $12,870 and used the proceeds to purchase another stock. Tim did not contribute any more funds nor withdraw any funds during the year. On December 31 of the same year, Tim's portfolio was valued at $398,189. What is the holding period return for the year? Sol: -1. 9%

Answers

The holding period return for Stacy's portfolio for the year is 25.8%. The holding period return for Suzanne's stock is 18.9%.Tim's holding period return for the year is -4.67%, indicating a negative return.

Holding Period Return = [(Ending Value - Beginning Value) + Dividends + Gain] / Beginning Value

In Stacy's case, the beginning value of her portfolio on January 1 was $96,534, and the ending value on December 31 was $113,201. She received $3,285 in interest, $4,100 in dividends, and had a gain of $850 from selling a stock. She also withdrew $5,000 at the end of June.

Holding Period Return = [($113,201 - $96,534 + $3,285 + $4,100 + $850) - $5,000] / $96,534

= ($24,902 + $4,100 + $850 - $5,000) / $96,534

= $24,852 / $96,534

= 0.257 or 25.8%

Therefore, the holding period return for Stacy's portfolio for the year is 25.8%.

Holding Period Return = [(Ending Value - Beginning Value) + Dividends] / Beginning Value

In Suzanne's case, the beginning value of the stock was $28 per share, and the ending value was $32 per share. She received $1.30 in dividends per share.

Holding Period Return = [($32 - $28) + $1.30] / $28

= ($4 + $1.30) / $28

= $5.30 / $28

= 0.189 or 18.9%

Therefore, Suzanne's holding period return for the stock is 18.9%.

In the case of Tim's portfolio, the holding period return for the year is -1.9%.

Tim's portfolio had an initial value of $432,098 on January 1 and a value of $398,189 on December 31. He received $10,563 in interest and $15,060 in dividends. However, he sold stock at a net loss of $12,870 and used the proceeds to purchase another stock. Tim did not contribute any additional funds or make any withdrawals during the year.

Holding Period Return = [(Ending Value - Beginning Value) + Dividends + Gain] / Beginning Value

= [($398,189 - $432,098) + $10,563 + $15,060 + (-$12,870)] / $432,098

= (-$33,909 + $10,563 + $15,060 - $12,870) / $432,098

= -$20,156 / $432,098

= -0.0467 or -4.67%

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While owning stocks can create strong profits for investors, what makes buying stocks riskier than buying bonds ?

Answers

Answer:

While owning stocks can create strong profits for investors, buying stocks is considered riskier than buying bonds because stocks are more volatile and can fluctuate significantly in value depending on the performance of the underlying company or the overall stock market. Additionally, there is no guarantee that a company will pay dividends or that the stock price will increase, whereas bonds usually pay a fixed interest rate.

FILL IN THE BLANK. The PSLRA changes the legal liability standard for auditors from ___________-and-several liability to _______________ liability.

Answers

The PSLRA changes the legal liability standard for auditors from joint-and-several liability to proportionate liability.

The Private Securities Litigation Reform Act (PSLRA) introduced changes to the legal liability standard for auditors. Prior to the PSLRA, auditors were held under joint-and-several liability, which meant that if multiple defendants were found liable for damages, each defendant could be held responsible for the entire amount of the damages. However, the PSLRA shifted the liability standard to proportionate liability. Proportionate liability means that each defendant is responsible for a portion of the damages that corresponds to their degree of fault or contribution. This change aimed to reduce the potential for auditors to face excessive liability and encourage a more equitable distribution of liability based on individual responsibility.

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a taxpayer has the following capital gains and losses: ltcg $15,000, ltcl (8,000); stcg $11,000, and stcl ($16,000). what are the net capital gain or loss and the character?

Answers

Based on the information provided about capital gains and losses of long term and short term nature, the net capital gain will equal to $2000 and of short term character.

The taxpayer has a total long-term capital gain of $15,000 and a total short-term capital gain of $11,000. They also have a long-term capital loss of $8,000 and a short-term capital loss of $16,000.

To calculate the net capital gain or loss, we first add up the long-term gains and losses: $15,000 - $8,000 = $7,000. We then add up the short-term gains and losses: $11,000 - $16,000 = ($5,000).

Next, we combine the long-term and short-term results: $7,000 + ($5,000) = $2,000. This means the taxpayer has a net capital gain of $2,000.

In terms of character, the $7,000 gain is considered a long-term capital gain, while the ($5,000) loss is considered a short-term capital loss.

The net capital gain of $2,000 will also be considered a short-term capital gain since it is the result of combining both long-term and short-term gains and losses.

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is it hard to get a job at chik fil a? kinda stupid question ik, I just really need money. if so any recommendations? ​

Answers

Answer: Maybe you can try getting a job at starbucks, mcdonalds, five below, etc. It depends how old are you.

I’m not sure, I think chipotle would be a great option though. Working there comes with many benefits like paying some of your tuition (or something along those lines.)

one reason tennis has become popular is because? A. it takes a long time to play the game B. almost anyone can play C. scoring is easy to figure out D. it is a contact sport

Answers

The one reason tennis has become popular is because is: B. almost anyone can play.

What are the reasons tennis has become popular?

Tennis  can be defined as a kind of sport that can be played by people of different ages, genders, and skill levels, making it accessible to a wide range of individuals.

This, combined with its relatively low cost of entry, has contributed to its popularity.

Therefore we can conclude that the correct option is B based on the fact that almost anyone can play tennis.

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A student earns $10. 50 per hour at her job. She works 4 hours on tuesday, 5 hours on thursday, and 6 hours on saturday. Her boss gives her an additional 25% bonus for the 6 hours she works on saturday. How much money does the student earn in all?.

Answers

qwq3r weFDWEF WF WF EWFD F

After a presentation is created, there is nothing left to do.
True
False

Answers

Answer:

false

Explanation:

If overhead is underapplied, which of the following is false? Multiple Choice A. The Factory Overhead account has a debit balance. B. Jobs are undercosted. C. Jobs are overcosted. D. The adjusting journal entry requires a debit to Cost of Goods Sold. E. The adjusting journal entry requires a credit to Factory Overhead.

Answers

Option (c), Jobs are overcosted if overhead is not applied, which is untrue.

Can overhead be charged for work that hasn't been completed?

If a predefined overhead rate is used, a work that is not completed by the end of the year would not incur manufacturing overhead costs. The overhead fee charged for a particular job is equal to the actual overhead incurred by the job.

What occurs if overhead is imposed excessively?

Overapplied overhead is the term used to describe situations where real expenses are lower than those projected in the budget. This suggests that a company does better than expected and incurs lower overhead costs throughout the accounting period. Businesses must also take into account unused overheads.

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what are the benefits of a workflow analysis? what are some of the questions that need to be addressed when doing a workflow analysis?

Answers

A Workflow Analysis is a systematic examination of the steps involved in a process to identify inefficiencies, bottlenecks, and opportunities for improvement.

Benefits of a Workflow Analysis: Improved efficiency and productivity: By identifying bottlenecks and inefficiencies in the existing workflow, organizations can streamline processes and reduce waste. Better customer experience: A workflow analysis can help organizations identify opportunities to improve the customer experience and ensure that customer needs are being met. Increased accountability: By clearly defining roles and responsibilities, a workflow analysis can increase accountability and reduce confusion. Better collaboration: A workflow analysis can help organizations identify areas where collaboration can be improved and foster better teamwork. Improved quality: By identifying areas where quality can be improved, a workflow analysis can help organizations deliver higher quality products and services. Questions to be addressed when doing a Workflow Analysis: What is the current workflow process? What are the duties and responsibilities of those participating in the process? What are the system's inputs and outputs? Which are the steps in the process and how are they related? What are the operational bottlenecks or inefficiencies? What are the possibilities for advancement? What are the potential hazards of the process? How can technology be used to enhance the process? What are the related expenses of the process? What are the advantages of simplifying the process?

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Banks are financial intermediaries because they:

Answers

Banks act as economic intermediaries due to the fact they stand among savers and debtors. Savers area deposits with banks, and then acquire interest bills and withdraw cash. Borrowers obtain loans from banks and pay off the loans with interest.

Commercial banks act as economic intermediaries because they receive the financial savings deposits of customers, and then lend out these funds to debtors. This pastime is referred to as economic intermediation or oblique finance.

A financial middleman is an entity that acts because the intermediary among two parties in a financial transaction, consisting of a commercial bank, funding bank, mutual fund, or pension fund.

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The ratio of a basketball player's completed free throws to attempted free throws is 4 to 7. If she completed 12 free throws, find how many free throws she attempted. a. 3 free throws c. 21 free throws b. 7 free throws d. 4 free throws Assume this region contains a gene transcribed to form mrna in a eukaryote. identify the location of the most common promoter consensus sequences. if bonus is 4% , Vat is 13% and paid amount is rs 199,784 then find mp. given two nonzero vectors which aren't parallel, there is exactly one plane parallel to both vectors. g A band wants to know what their most popular CD is so that they can have more copies made to sell. Which statistical measurement is the band most likely to use?meanmodemedianaverage what's the distance between the points (4,3) and (16,8) The distance between Newfoundland, Canada, and Ireland is roughly 3,320 kilometers. If the Mid-Atlantic Ridge is spreading at 4 cm/year (0.00004 km/year) in that area, how long ago did the Atlantic Ocean separate Canada from Ireland? What is the function of a cell membrane? Aaron sampled 101 students and calculated an average of 6.5 hours of sleep each night with a standard deviation of 2.14. Using a 96% confidence level, he also found that t* = 2.081.confidence intervat = xs/n A 96% confidence interval calculates that the average number of hours of sleep for working college students is between __________. Exercise 3 Draw three lines under each lowercase letter that should be capitalized. For each italicized word write in the blank com. (common noun) or prop. (proper noun).tutankhamen reigned as king of egypt from about 1347 B.C. to 1339 B.C. so you need to select 6 varieties without replacement from 10 varieties: c(10,6) b) if there are at least two varieties. Find the percent of change3/8 to 5/8 Grade 12 :examplar tourism skills assessment task2 memorandum A triangle has two sides of lengths 10 and 14. What value could the length ofthe third side be? Check all that apply. Give the following definitions and theorems.What is the span of a set B = (i, , n)?span(B) = as a manager at barcelona, which of the following activities do you think you would be encouraged to do? A butterfly goes through the stages of development in a process called metamorphosis. What characteristic of life does this describe?. Analyzing the Importance of the PharaohsWhat was the purpose of a pharaoh's marriage? Choose three correct answers.to unite peopleto find true loveto please the godsto form alliancesto expand territory Does the federal or state governments have control over education today?. Simplify quantity 9 x squared plus 12 end quantity over 6 9x + 2 x + 2 quantity 3 x squared plus 4 end quantity over 2 quantity 3 x squared plus 12 end quantity over 2