Trudy's Café paid employees $4,680 in September for work performed that month. What journal entry will Trudy's prepare to record that transaction?
A. Debit Salaries and Wages Expense and credit Cash for $4,680.
B. Debit Salaries and Wages Revenue and credit Cash for $4,680.
C. Debit Cash and credit Salaries and Wages Payable for $4,680.
D. Debit Cash and credit Salaries and Wages Revenue for $4,680.
Answer: A
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Cloverton Corporation had net income of $35,750, net sales of $750,000, and average total assets of $650,000. Its return on total assets is:
A. 1.9% B. 4.8% C. 5.5% D. 18.2% E. 115.4%
U.S. GAAP requires the disclosure of the direct exchange (with no cash consideration) of a tract of land for manufacturing equipment to be used in the company's operations
a. as an operating activity. b. as an investing activity. c. as a financing activity. d. as an exchange activity. e. in a separate schedule or note, but does not appear in the statement of cash flows as an operating activity, investing activity, or a financing activity.
The method of least squares
A) is a way to find the "best fitting" line through a set of data points B) is a statistical way of separate a mixed cost C) always produces the same cost formula D) all of the answers are correct
Name five entrepreneurial characteristics that you feel are important.
What will be an ideal response?