In the United States, the number of workers dying on the job each day has been increasing steadily over the past 10 years.
Answer the following statement true (T) or false (F)
False
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The following information is available for Juno Company for the month ending June 30, 2019.
* Balance as per the bank statement is $11,500. * Balance as per books is $10,300. * Check #506 for $1,400 and check #510 for $900 were not shown on the June 30, bank statement. * A deposit in transit of $3,218 had not been received by the bank when the bank statement was generated. * A bank debit memo indicated an NSF check for $100 written by Jane Smith to Juno Company on June 13. * A bank credit memo indicated a note collected by the bank of $2,200 and interest revenue of $53 on June 20. * The bank statement indicated service charges of $35. What is the adjusted book balance? A) $12,453 B) $12,418 C) $8,053 D) $8,000
In the current year, Borden Corporation had sales of $2,160,000 and cost of goods sold of $1,280,000. Borden expects returns in the following year to equal 7% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $22,000, and the unadjusted balance in Sales Refund Payable is a credit of $26,000. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales Returns and Allowances | 125,200? | |
| Sales Refund Payable | 125,200? | |
| Inventory Returns Estimated | 67,600? | |
| Cost of Goods Sold | 67,600? |
B.
| Sales Refund Payable | 125,200? | |
| Accounts Receivable | 125,200? |
C.
| Sales Returns and Allowances | 125,200? | |
| Sales | 125,200? | |
| Cost of Goods Sold | 67,600? | |
| Inventory Returns Estimated | 67,600? |
D.
| Sales | 2,160,000? | |
| Sales Refund Payable | 151,200? | |
| Accounts Receivable | 2,008,800? |
E.
| Accounts Receivable | 2,160,000? | |
| Sales | 2,160,000? |
An overstatement of beginning inventory in a period will result in an overstatement of gross margin in the next period
Indicate whether the statement is true or false
Gail is always striving for the "moment of magic" with her clients. This means:
A) fulfilling the basic spirit of the sales contract B) giving them what they paid for C) giving them what they paid for with excellent execution D) not only giving them what they paid for but creating a satisfying experience with attentive customer service E) not only giving them what they paid for but adding in free services and products