The Corbit Corp. sold merchandise for $10,000 cash. The cost of the goods sold was $7,590. The journal entries to record this transaction under the perpetual inventory system would be

a.

Cash 10,000
Sales 10,000
Cost of Goods Sold 7,590
Inventory 7,590
b.

Cash 7,590
Sales 7,590
Cost of Goods Sold 7,590
Inventory 7,590
c.

Cash 10,000
Sales 10,000
Cost of Goods Sold 10,000
Inventory 10,000
d.

Cash 10,000
Inventory 10,000
Cost of Goods Sold 7,590
Sales 7,590

Answer:

a. Cash 10,000

Sales 10,000

Cost of Goods Sold 7,590

Inventory 7,590

Explanation:

Based on the information given if the company

sold merchandise for the amount of $10,000 cash in which The cost of the merchandise sold was the amount of $7,590. The appropriate journal entries to record this transaction under the perpetual inventory system would be to Debit Cash for $10,000; Credit Sales for $10,000 and to Dr Cost of Goods Sold for $7,590; Credit Inventory for $7,590.

Dr Cash 10,000

Cr Sales 10,000

Dr Cost of Goods Sold 7,590

Cr Inventory 7,590

Match the action needed to increase profits with the reason a business might fail.
Setting a realistic budget for the company to follow would match with________.

A) bad location

B) poor management

C) Competition

D) finances

Threadless (Strategy Highlight 5.2.) is a community-centered online apparel store that leverages user-generated content. The idea is to turn consumers into prosumers, a hybrid between producers and consumers. Members of the Threadless community do most of the work, which they consider fun: They submit T-shirt designs online, and community members vote on which designs they like best. The designs receiving the most votes are put in production, printed, and sold online. It can be said that Threadless uses the _____ technique.

Which plan would most likely NOT help you reach the savings needed for college? ​

Define general banking services offered by financial institutions

On January 1, Year 1, Can Corporation distributed Sec. 1231 land with a market value of $300,000 and an adjusted basis of $205,000 under a plan of partial liquidation under the Sec. 302(b)(4) rules. The distribution was made to individual shareholder Clem, who had owned 40% of Can since it was founded. Clem’s stock interest redeemed in the partial liquidation had a basis of $140,000. What are the amount and the character of gain/loss that Can should recognize on the distribution?

Whether speech is going to be delivered before one or one hundred people, the speaker should:
a.
Concentrate on getting everything out quickly
b.
Imitate the mannerisms of great speakers
c.
Prepare their thoughts in advance
d.
Use their biggest vocabulary to sound educated

what are some good outdoor thing to do outside for the summer
list as many as can