the last asset purchased by a business.
may have the capacity to earn revenue for its owner.
Yes, the company is now obligated to pay the employee, thus that event must be recorded on March 6.
a revenue, with a credit balance.
Dividends payable and rent expense
a fiscal year.
at the end of the month.
Due from employees
expenses are recognized in the period in which they are incurred.
increased by $19,208.
the seller has legal title to the goods until they are delivered.
To check the accuracy of the perpetual inventory records
Music store specializing in piano sales
A company may use more than one cost-flow assumption concurrently for different product lines.
Average cost method