If the owner of a sole proprietorship retires or dies, the owner's heirs may take over the business and either sell it or continue to operate it.
Answer the following statement true (T) or false (F)
True
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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. The journal entry that Johnson will make on September 12 is:
A.
| Accounts payable | 4,000 | |
| Merchandise inventory | 4,000 |
B.
| Merchandise inventory | 5,800 | |
| Accounts payable | 5,800 |
C.
| Purchases | 5,800 | |
| Accounts payable | 5,800 |
D.
| Merchandise inventory | 5,684 | |
| Accounts payable | 5,684 |
E.
| Purchases | 5,684 | |
| Accounts payable | 5,684 |
A company's total expected overhead costs and related overhead data are shown in the following table:?Department ADepartment BDirect labor hours85,000 DLH72,000 DLHMachine hours79,050 MH37,395 MHManufacturing overhead costs??Departmental overhead rate$4 per MH$8.31 per DLHa. Compute estimated manufacturing overhead costs for Department A.b. Compute estimated manufacturing overhead costs for Department B.c. Compute the departmental overhead rate based on direct labor hours for Department A.d. Compute the departmental overhead rate based on machine hours for Department B.
What will be an ideal response?
The term _____ that literally means the description of books is sometimes used to refer to an alphabetized list of the sources used in preparing a report.?
A) ?hypothesis B) ?biography C) ?autobiography D) ?bibliography
The competitive advantage opportunities that a global competitor can gain by dispersing performance of its activities across many nations include all of the following, except
A. being in a better position to choose where and how to challenge rivals. B. shortening delivery times to customers by having geographically scattered distribution facilities. C. being able to shift production from one country to another to take advantage of exchange rate fluctuations, differing wage rates, differing energy costs, or differing trade restrictions. D. centralizing value chain activities to foster just-in-time inventory activities. E. locating buyer-related activities (such as sales, advertising, after-sale service and technical assistance) close to buyers.