Which of the following reflect(s) the relatively minor routine demands that get in the way of accomplishing the things that we really want to accomplish?
A. personal development
B. negative life events
C. positive life events
D. daily hassles
E. family time demands
Answer: D
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Cornwall Co made the following errors in counting its year-end physical inventories: 2012 ................................... $ 60,000 overstatement 2013 ................................... 108,000 understatement 2014 ................................... 90,000 overstatement The entry to correct the accounts at the end of 2014 is
a. Retained Earnings ................... 48,000 Cost of Goods Sold .................. 42,000 Inventory ........................ 90,000 b. Retained Earnings ................... 18,000 Cost of Goods Sold .................. 72,000 Inventory ........................ 90,000 c. Inventory .......................... 90,000 Cost of Goods Sold ............... 18,000 Retained Earnings ............... 72,000 d. Cost of Goods Sold .................. 198,000 Retained Earnings ................ 108,000 Inventory ........................ 90,000
A process is ________ if the outcome of one trial does not have any impact on the next trial
Fill in the blank with the appropriate word.
Prepare journal entries to record the following merchandising transactions of Margin Company, which applies the perpetual inventory system and the gross method of recording invoices. Margin Company offers all of its credit customers credit terms of 2/10, n/30.May 1Purchased merchandise from Craft Company for $7,800 under credit terms of 1/10, n/30, FOB shipping point, invoice dated May 1.May 2 Purchased merchandise from Bow Company for $10,600 under credit terms 2/05, n/20, FOB destination.May 4 Paid $300 cash for the freight charges on the May 1 purchase of merchandise.May 5 Received an $800 credit memorandum from Craft Company for the return of part of the merchandise purchased on May 1.May 6 Paid Bow Company the balance due within the discount period.May 11 Paid Craft Company the
balance due within the discount period. What will be an ideal response?
An adjusting entry could be made for each of the following except:
A. Stockholder investments. B. Depreciation. C. Prepaid expenses. D. Accrued expenses. E. Unearned revenues.