Accumulated Depreciation and Service Fees Earned would be sorted to which respective columns in completing a work sheet?
A. Balance Sheet and Statement of Retained Earnings-Debit; and Income Statement-Credit.
B. Income Statement-Debit and Income Statement-Credit.
C. Balance Sheet and Statement of Retained Earnings-Debit and Balance Sheet and Statement of Retained Earnings-Credit.
D. Balance Sheet and Statement of Retained Earnings-Credit and Income Statement-Credit.
E. Balance Sheet and Statement of Retained Earnings-Debit and Income Statement-Debit.
Answer: D
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Sentra Sporting Company sells tennis rackets and other sporting equipment. The purchasing department manager prepared the inventory purchases budget. Sentra's policy is to maintain an ending inventory balance equal to 15% of the following month's cost of goods sold. January's budgeted cost of goods sold is $70,000. October November December Budgeted cost of goods sold60,000 40,000 50,000 Plus: Desired ending inventory6,000 ? ? Inventory needed66,000 ? ? Less: Beginning inventory9,000 ? ? Required purchase (on account)57,000 ? ? What is the amount of ending inventory that the company will report on its pro forma balance sheet?
A. $35,300 B. $7,500 C. $10,500 D. $60,500
The United States imports more goods from China than it exports to China. This is known as
A. an import imbalance. B. a trade deficit. C. gross domestic product (GDP). D. a trade surplus. E. gross national income (GNI).
When considering cost as a percent of sales, agent wholesalers are more expensive than manufacturers' sales branches.
Answer the following statement true (T) or false (F)
Problems and limitations that could be encountered should also be discussed in a research proposal. Here, problems can refer to difficulties relating to logistical details and limitations to structural problems relating to methodological aspects of the study.
a) True b) False