Number 3 4 and 5 please III. IDENTIFICATIONDirections: Identify the term/s being described.1. It is the inventory system most applicable to sari-sari stores.2 It is the business document commonly used as the basis of recording in the cash receipts journal.3. It refers to the number of days from date of purchase that the supplier has given the business to pay itsaccount.4. It is the cost associated with transporting goods from seller's to buyer's place of business.5. It is the business document issued by the buyer whenever there are returns and allowances.

Merchandise inventory refers to the cost of goods that are readily available for sale at some random…

3. It refers to the number of days from date of purchase that the supplier has given the busıness to pay its account. 4. It is the cost associated with transporting goods from seller's to buyer's place of business. 5. It is the business document issued by the buyer whenever there are returns and allowances.

3. It refers to the number of days from date of purchase that the supplier has given the busıness to pay its account. 4. It is the cost associated with transporting goods from seller's to buyer's place of business. 5. It is the business document issued by the buyer whenever there are returns and allowances.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sohr Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar beets costs $51 to buy from farmers and $10 to crush in the company's plant. Two intermediate products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can be sold as is for $21 or processed further for $11 to make the end product industrial fiber that is sold for $59. The beet juice can be sold as is for $42 or processed further for $24 to make the end product refined sugar that is sold for $59. How much profit (loss) does the company make by processing one batch of sugar beets into the end products industrial fiber and refined sugar? Multiple Choice O $(4) $8
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