The partnering concept, as an enhancement of personal selling, became very popular in the 1970s
Indicate whether the statement is true or false
FALSE
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Vignana Corporation manufactures and sells hand-painted clay figurines of popular sports heroes. Shown below are some of the costs incurred by Vignana for last year: Cost of clay used in production$65,000Wages paid to the workers who paint the figurines$90,000Wages paid to the sales manager's secretary$22,000Cost of junk mail advertising$47,000 What is the total of the direct costs above?
A. $112,000 B. $202,000 C. $155,000 D. $65,000
Puffin, Inc. purchased land costing $54,000 by paying cash of $13,500 and signing a 90-day note for the balance. The entry to record this transaction would:
A. decrease Common Stock. B. increase total assets and decrease total liabilities. C. decrease total liabilities. D. increase total assets.
More entrepreneurs are driven by opportunity than necessity
Indicate whether the statement is true or false.
White Appliances
? On August 1, purchased 75 refrigerators for $45,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, White purchased 100 dishwashers for $20,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the dishwashers were 2/10, n/30. On August 3rd, White determined that 5 of the refrigerators were defective, so they were returned to the seller. White paid for the dishwashers on August 9th. On August 10th, White purchased 90 microwave ovens for $9,000 on credit with terms 1/10, n/30. The seller paid the freight. White paid for the microwave ovens on August 21st. Refer to the information presented for . Prepare all of the company's journal entries for August assuming the use of a perpetual inventory system. What will be an ideal response?