Which of the following entries records the withdrawal of cash for personal use by Ty Knott, the owner of a business?
A. debit Ty Knott, Drawing, and credit Cash
B. debit Cash and credit Ty Knott, Capital
C. debit Salary Expense and credit Cash
D. debit Cash and credit Salary Expense
Answer: A
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Perceived customer value is determined by ________
A) subtracting relative cost of purchase from relative performance B) adding performance to enhancement value C) dividing product performance by average performance D) dividing product performance by the number of customers E) comparing the price-performance matrix entries
To record a stock dividend of 30%, debit Stock Dividends for the par value of the shares distributed
Indicate whether the statement is true or false
Mendez Inc. had the following information for the preceding year: Beginning Inventory (1/1) Ending Inventory (12/31) Work in Process Inventory$?? $35,000 Finished Goods Inventory$?? $30,000 Additional information for the year is as follows: Direct materials used$200,000Direct labor$150,000Manufacturing overhead applied$160,000Cost of goods manufactured$525,000Cost of goods sold$544,000What was the beginning Work in Process Inventory balance on 1/1?
A. $49,000 B. $69,000 C. $50,000 D. $65,000
Derek, age 46, is a surviving spouse. If he has itemized deductions of $12,900 for 2017, Derek should not claim the standard deduction
a. True b. False Indicate whether the statement is true or false