On June 30, 2017, Nightvale, Inc. purchased merchandise inventory for $500,000 by signing a six-month, 8% note payable. Prepare the journal entry for the payment of the note on December 30, 2016
What will be an ideal response
Notes payable 500,000
Interest expense [($500,000 x 8%) x 6/12] 20,000
Cash 520,000
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Dapper Hat Makers is in the business of designing and producing specialty hats. The material used for derbies costs $4.50 per unit, and Dapper pays each of its two full-time employees $250 per week. If the employees make 50 derbies in one week, what is the fixed cost per derby? (Round to two decimal places where necessary.)
a. $4.50 b. $5.00 c. $10.00 d. $14.50
When preparing an unadjusted trial balance using a periodic inventory system, the amount shown for Merchandise Inventory is:
A. The ending inventory amount. B. The beginning inventory amount. C. Equal to the gross profit. D. Equal to the cost of goods sold. E. Equal to the cost of goods purchased.
SCENARIO-BASED QUESTIONS ?Improving On Constructive Criticism ? A new medical assistant, Janelle, was hired at an outpatient medical center. Her supervisor found an error she made on a patient's record and sent Janelle the following email. Edit the
email to make it a good example of constructive criticism. ? "I just want you to know how angry I am to find an error on Mr. Smith's record yesterday. How can you be so careless about such an important thing? There is absolutely no room for carelessness in this job because people's lives depend on us! I have fixed the error, but if this ever happens again, you may lose your job."
Equipment and facility requirements are typically mentioned in the:
A. screening form. B. quota sheet. C. cover letter. D. supervisor instruction form. E. respondent instruction form.