________ are obligations to pay for goods and services purchased and are usually due within 30 or 60 days, depending on the credit terms.
A. Owner's equities
B. Accounts payable
C. Sales returns
D. Purchase returns
Answer: B
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Social judgment skill is similar to ______.
A. sociability in trait approach B. Katz’s human skill C. Katz’s technical skill D. knowledge in Mumford’s model
Harvest Corporation's capital stock at December 31 consisted of the following: (a) Common stock, $2 par value; 100,000 shares authorized, issued, and outstanding. (b) 10% noncumulative, nonconvertible preferred stock, $100 par value; 1,000 shares authorized, issued, and outstanding. Harvest's common stock, which is listed on a major stock exchange, was quoted at $4 per share on December 31
Harvest's net income for the year ended December 31 was $50,000 . The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price- earnings ratio on Harvest's common stock at December 31? a. 6 to 1 b. 8 to 1 c. 10 to 1 d. 16 to 1
The Western saying “If it ain’t broke, don’t fix it” is the antithesis of ______.
A. jidoka B. heijunka C. kaizen D. poka yoke
On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Johnson uses the periodic inventory system and the net method of accounting for purchases. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Johnson makes on September 18 is:
A.
| Accounts payable | 5,684 | |
| Cash | 5,684 |
B.
| Accounts payable | 4,000 | |
| Merchandise inventory | 80 | |
| Cash | 3,920 |
C.
| Purchases | 5,684 | |
| Cash | 5,684 |
D.
| Cash | 5,684 | |
| Purchases discounts | 116 | |
| Accounts payable | 5,800 |
E.
| Accounts payable | 5,800 | |
| Purchases discounts | 116 | |
| Cash | 5,684 |