In a perpetual average cost system: a) A new weighted-average unit cost is calculated each time additional units are purchased.
b) The cost allocated to ending inventory is generally the same as it would be in a periodic inventory system.
c) The moving-average unit cost is determined following each sale.
d) The average is determined by dividing the total number of units sold by the cost of units purchased during the period.

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

According to herman, one of the differences of managing a nonprofit versus a for-profit corporation is

Sally has a high-paying management position with a fortune 500 company, but she is tired of working for corporate america. so sally has decided to start a business, and she knows she will be successful as an entrepreneur because entrepreneurs typically