At the end of the accounting period, the correct entry in the general journal to adjust for beginning inventory is to
a. debit Purchases and credit
Merchandise Inventory; b. debit Merchandise Inventory and credit Sales;
c. debit Purchases and credit Cash; d. debit Merchandise Inventory and
credit Income Summary; e. debit Income Summary and credit Merchandise Inventory
E
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Gary, Peter, and Chris and have capital balances of $26,000, $38,000, and $30,000, respectively. As per the partnership agreement, Gary gets a profit share of 2/9; Peter gets 4/9; and Chris gets 3/9. The partnership agrees to pay $20,000 as the final settlement to Gary. How much bonus does Peter receive as a result of this transaction? (Do not round intermediate calculations and round the final answer to the nearest dollar.)
A) $3429 B) $2571 C) $3333 D) $2667
As described in the text, Valeant Pharmaceuticals made a legal move to buy a wide range of heart medications and raise prices on all of them. How did this primarily damage the company?
a. It damaged its reputation and resulted in a fall in share price. b. Government prosecution for monopolistic practices followed. c. It emboldened competitors to make similar moves. d. It drove its customer base into poorer health.
During your conclusion of a speech, you are putting your presentation on ______ for a moment.
a. fast forward b. rewind c. pause d. slow motion
______ and ______ are both adequate responses to an influence tactic.
What will be an ideal response?