A merchandiser purchased inventory on account for $10,000. Under the periodic inventory system, the journal entry to record the purchase would include ________
A) a debit to Purchases for $10,000 and a credit to Accounts Payable for $10,000
B) a debit to Accounts Payable for $10,000 and a credit to Purchases for $10,000
C) a debit to Merchandise Inventory for $10,000 and a credit to Accounts Payable for $10,000
D) a debit to Accounts Payable for $10,000 and a credit to Merchandise Inventory for $10,000
A
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When a fully depreciated asset with a residual value is discarded
A) a loss equal to its residual value may be recognized. B) a gain equal to its residual value may be recognized. C) no gain or loss may be recognized. D) a gain for its carrying value may be recognized.
Phelps Company manufactures custom-designed filtering equipment for swimming pools and tanks. In May 2014, the company incurred the following costs of quality: Product design costs $ 8,600 Product recall costs 5,200 Product simulation costs 13,500 Product testing costs 3,500 Product warranty claims 2,000 Scrap and rework costs 3,000 Total quality costs of conformance for May were
A) $27,600. B) $11,600. C) $25,600. D) $22,100.
Which of the following statement is true? Research suggests that:
A) Happier workers cope with stress more efficiently than their unhappy counterparts B) Happier workers are not necessarily able to cope with stress more efficiently than their unhappy counterparts C) Unhappy workers do not cope with stress D) Unhappy workers know how to handle stress better than their happy counterparts
If the manufacturer used actual footage of the sports celebrity engaged in athletic competition in order to create the appearance that the celebrity endorsed its product, when she did not, the female athlete's best course of action against the manufacturer would be for
a. Commercial appropriation b. Defamation c. Public Disclosure of Private Facts d. Intrusion into plaintiff's solitude