____________________ is money to buy real estate, equipment, or raw materials needed by a business.
Fill in the blank(s) with the appropriate word(s).
Capital
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A truck that cost $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of on January 1 . Assume that the truck was disposed of for $2,000 cash. The entry to record this event is:
a. Accumulated Depreciation— Truck 3,000 Truck 3,000 b. Accumulated Depreciation— Truck 11,000 Truck 10,000 Gain on Sale of Truck 1,000 c. Cash 2,000 Accumulated Depreciation— Truck 9,000 Loss on Sale of Truck 1,000 Truck 12,000 d. Truck 9,000 Accumulated Depreciation— Truck 9,000
Which of the following can be referenced in the loop but cannot be assigned a value because it is controlled by the loop?
A. The counter variable B. The IN clause C. The INSERT INTO clause D. The FOR clause
The following information is available for the Starr Corporation: Sales$750,000Cost of goods sold450,000Gross profit300,000Operating income85,000Net income42,000Inventory, beginning-year71,200Inventory, end-of-year48,800Calculate the company's inventory turnover and its days' sales in inventory.
What will be an ideal response?
A company uses the perpetual inventory system and recorded the following entry:Merchandise Inventory2,500 Accounts Payable 2,500 This entry reflects a:
A. Payment of the account payable less a 2% cash discount taken. B. Payment of the account payable less a 1% cash discount taken. C. Return of merchandise. D. Purchase of merchandise on credit. E. Sale of merchandise on credit.