Marlin Company has all of the special journals that were described in your text (other than the voucher register) as a part of its accounting system. Which of the following journal entries would therefore be recorded in Marlin's general journal?
A) an entry to record the sale of merchandise on credit
B) an entry to record the purchase of merchandise on credit
C) an entry to record the return of defective purchased merchandise for credit
D) an entry to record a cash purchase of merchandise
C
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When you're writing a routine request for information or action in a complex situation,
A) provide vague reasons to support your request. B) limit the justification for your request. C) point out the benefits of complying with your request. D) dwell on the negative consequences of choosing not to comply. E) identify who will be affected by a lack of action on the reader's part.
Tim's gross pay for this month is $8950. His gross year-to-date pay, prior to this month, totaled $111,500. What is the amount of FICA tax withheld from Tim's pay for this month? (Assume an OASDI rate of 6.2%, applicable on the first $118,500 earnings, and a Medicare rate of 1.45%, applicable on all earnings. Do not round any intermediate calculations, and round your final answer to the nearest cent.)
A) $434.00 B) $129.78 C) $563.78 D) $554.90
A leader should schedule time regularly to clean out papers and record important information.
a. True b. False
According to IRS guidelines, companies may use FIFO for financial reporting and LIFO for tax reporting.
Answer the following statement true (T) or false (F)