A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $99,000
During the year, Sales Revenue amounted to $73,000, Sales Returns and Allowances were $1,400, Sales Discounts were $3,100, Cost of Goods Sold was $30,000, and all other expenses totaled $16,000. The company declared and paid $25,000 as dividends. The last step in the closing process would include ________.
A) a debit to Income Summary for $50,500
B) a credit to Income Summary for $73,000
C) a debit to the Retained Earnings account for $20,500
D) a debit to the Retained Earnings account for $25,000
D
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Kitchen dishcloths are often difficult to rinse clean and typically dry slowly. A company developed a disposable kitchen cloth that rinses easily and dries quickly
Because this is a brand new product to the market, it can be said to be in the ________ stage of its product life cycle. A) competitive B) trial C) introduction D) growth E) youth
Propositions of ______ are conclusions asserting that something does or does not exist, is or is not true, or is or is not valid.
a. fact b. value c. policy d. right
The third level of relationship in a business friendship is:
A. joint venture. B. companionship. C. strategic alliance. D. intimate friendship. E. reciprocal alliance.
Which one of the following appropriately connects the plaintiff's burden of proof with his or her legal status as a person?
A. Both public officials and private figures need to show negligence B. Public officials need to show actual malice, whereas private figures need to show negligence C. Both public officials and private figures need to show actual malice D. Public officials need to show negligence, whereas private figures need to show actual malice E. Both negligence and actual malice must be shown, regardless of the plaintiff's legal status as a person