Which of the following journal entries would be recorded if a business purchased office supplies on account in a previous accounting period and now makes a cash payment of $750 to the supplier to settle the account?
A)
Cash 750
Accounts Payable 750
B)
Accounts Payable 750
Cash 750
C)
Cash 750
Office Supplies 750
D)
Accounts Payable 750
Office Supplies 750
B
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While using financial statement analysis, which ratio will be most useful in assessing the company's operational efficiency?
a. Current Ratio b. Quick ratio c. Cost of goods sold percentage d. Inventory turnover
If there were a need to isolate key variables and relationships for further examination, it would be best to perform ________
A) descriptive research B) causal research C) exploratory research D) conclusive research
On June 18, Burger Corporation entered into a firm commitment to purchase specialized equipment from the Hyabuza Trading Company for ¥80,000,000 on August 20 . The exchange rate on June 1 . is ¥100 = $1 . To reduce the exchange rate risk that could increase the cost of the equipment in U.S. dollars, Burger pays $12,000 for a call option contract. This contract gives Burger the option to
purchase ¥80,000,000 at an exchange rate of ¥100 = $1 on August 20 . On August 20, the exchange rate is ¥93 = $1 . How much did Burger save by purchasing the call option (answers rounded to the nearest dollar)? a. $12,000 b. $48,215 c. $60,215 d. Burger would have been better off not to have purchased the call option.
Concerned that her new office building would not meet new environmental standards, Sarah made large contributions to several prominent politicians in exchange for being able to continue with construction on the building. It appears that Sarah engaged in ________.
A. discriminatory labor practices B. corrupt payments C. discriminatory labor practices D. unethical marketing practices