Dina Corporation purchased plant assets for $60,000 cash. The journal entry to record the transaction that correctly shows the outflow of cash is:
A) Investments 60,000 Cash 60,000
B) Plant Assets 60,000 Cash 60,000
C) Plant Assets 60,000 Purchases 60,000
D) Purchases 60,000 Plant Assets 60,000
B
You might also like to view...
Newspaper advertisers can sometimes receive ________, a discount applied retroactively as the volume of advertising increases through the year.
A. space discounts B. acquisition fees C. ad overruns D. earned rates E. short rates
When resources are fixed and limited, and both parties want to maximize their share, the parties are in a ________ bargaining situation.
What will be an ideal response?
Think about the difference between merit and worth, and identify each evaluation question whether it focuses on the evaluand’s merit or worth.
a. Is the firefighters’ rescue simulation program designed with multimedia elements? ______ b. Should the department renew the current license for using the learning management system (hosting option) next year? ______
Romeo Corporation reports the following for the year: ?Finished goods inventory, January 1$ 3,200 ?Finished goods inventory, December 31 4,000 ?Total cost of goods sold 14,200 ?? The cost of goods manufactured for the year is:
A. $17,400. B. $10,200. C. $21,400. D. $15,000. E. $11,000.