Business, 07.03.2020 05:13 golffuture666
Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; terms 1/15, n/30; dated June 25; FOB San Francisco, freight prepaid and added to the invoice, $1,800 (total $21,800). Which of the following journal entries records this purchase transaction?
a. A debit to Merchandise Inventory of $23,600, a credit to Accounts Payable of $23,600
b. A debit to Merchandise Inventory of $21,800, a credit to Accounts Payable of $21,800
c. A debit to Merchandise Inventory of $20,000, a debit to Freight of $1,800, a credit to Accounts Payable of $21,800
d. A debit to Cost of Goods Purchased of $20,000, a debit to Freight Out of $1,800, a credit to Accounts Payable of $21,800
Answers: 1
Business, 22.06.2019 10:20
Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.
Answers: 1
Business, 22.06.2019 11:00
What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.
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Business, 22.06.2019 21:30
Zara, a global retail and apparel manufacturer based in spain that has successfully implemented this idea by having a continuous flow of new products that are typically limited in supply. zara has created a system that draws its clientèle into its stores, on average, 17 times per year as compared to 4 times per year for most stores. how is zara using it to gain competitive advantage? what specific technologies are used by zara to maintain this advantage over its competition?
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Business, 23.06.2019 11:00
Which of the following makes a true statement about the relationship between government and financial institutions? government and financial institutions do not interact with each other. financial institutions like the u.s. treasury must approve increases in the government deficit. government can pass laws to limit what financial institutions can charge in interest and fees. financial institutions like local banks must approve interest rates set by the federal reserve.
Answers: 2
Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc,...
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