A cooperative is a form of co-ownership in a multiple-dwelling building in which a corporation owns the building and the residents own shares in the corporation
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Based on the above data, what is the amount of quick assets?
a. $168,000 b. $96,000 c. $60,000 d. $61,000
A review of the questionnaires with the objective of increasing accuracy and precision is called editing
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Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represent $80 for office supplies, $160 for merchandise inventory, and $20 for miscellaneous expenses. There is a cash shortage of $8. The journal entry to replenish the fund on January 31 is:
A. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Dr. Cash over and short, $8; Cr. Cash, $268. B. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Petty cash, $400. C. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Cash, $252. D. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Cr. Cash over and short, $8; Cr. Petty cash, $252. E. Dr. Office Supplies, $80; Dr. Merchandise inventory, $160; Dr. Miscellaneous expenses, $20; Dr. Cash over and short, $8; Cr. Petty cash, $268.
Of the three cost-flow assumptions, FIFO results in the least fluctuation in gross margins in businesses in which selling prices tend to change as acquisition costs of inventories change
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