Answer:
Debit Merchandise Inventory $250
Credit Accounts Payable $250
Explanation:
On the purchase date, the correct action is to recognize the $250 owed to the supplier for the German chocolate by crediting accounts payable and debiting merchandise inventory with the same amount.
When the payment occurs on March 31, 2014, the accounts payable will be cleared by a debit, and the cash account will be credited with $250 to reflect the cash outflow from the business.
The net income recorded for 2020 totals $171,360. Explanation: The calculation for net income is outlined as follows: Net income = Net sales - Cost of goods sold - Administrative costs - Selling costs - Loss from discontinued operations - income tax expenditure, which translates to $550,800 - $214,200 - $81,600 - $40,800 - $42,840 equals $171,360. The income tax expense calculation is done as follows: Income tax expense = (Net sales - Cost of goods sold - Administrative costs - Selling expenses - Discontinued operations) multiplied by the income tax rate, yielding $214,200 multiplied by 20%, resulting in $42,840.
I am quite certain the accurate statement should be phrased like so: High levels of brand <span>resonance</span>, denoting how closely consumers feel aligned with the fox news brand, leads to better recall of advertisements placed by fox news due to engagement in fox news programs. Brand resonance represents the connection between the consumer and the product, highlighting the consumer's relatability to it.
