Under the perpetual inventory system, the journal entry to record the freight paid by the seller on goods sold is:
A)
Cash XX
Sales Discount XX
Accounts Receivable XX
B)
Delivery Expenses XX
Cash XX
C)
Cash XX
Accounts Receivable XX
D)
Merchandise Inventory XX
Cash XX
B
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A component of equity that arises when a parent company owns a majority of the common shares of a subsidiary company is known as?
A) ?majority interest. B) ?noncontrolling interest. C) ?earned capital. D) ?unearned capital.
For a manufacturer, materials storage is a value-adding activity
Indicate whether the statement is true or false
All of the following are compound sentences except A) ?The national conference was held in Atlanta, but inclement weather delayed many attendees
B) Megan processed the customer's merchandise return and issued an in-store credit. C) Complete the enclosed health information survey, and return it in the prepaid, self-addressed envelope.
The Lake Nixon Club near Little Rock, Arkansas, had a racial restriction on the use of its 232-acre amusement area, which included areas for swimming, boating, sunbathing, picnicking, miniature golf, and snack bars. Discuss how an interstate commerce connection might be found so that the federal civil rights act could be used to invalidate the restriction