Barrister Corporation separates operating expenses in two categories: (1) selling, and (2) general and administrative. The adjusted trial balance at December 31 . 2014, included the following expenses and loss accounts: Interest ............................................. $140,000 Advertising .......................................... 300,000 Freight-Out
.......................................... 160,000 Product Development .................................. 240,000 Loss on Sale of Long-Term Investment ................. 60,000 Officers' Salaries ................................... 450,000 Rent for Office Space ................................ 440,000 Sales Salaries and Commissions ....................... 280,000 One-half of the rented premises is occupied by the sales department. Barrister's total selling expenses for 2014 are
a. $720,000.
b. $740,000.
c. $800,000.
d. $960,000.
D
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In its first year of business, Borden Corporation had sales of $2,040,000 and cost of goods sold of $1,220,000. Borden expects returns in the following year to equal 7% of sales. The adjusting entry or entries to record the expected sales returns is (are):
A.
| Sales Returns and Allowances | 142,800? | |
| Sales Refund Payable | 142,800? | |
| Inventory Returns Estimated | 85,400? | |
| Cost of Goods Sold | 85,400? |
B.
| Sales Refund Payable | 142,800? | |
| Accounts Receivable | 142,800? |
C.
| Sales | 2,040,000? | |
| Sales Refund Payable | 142,800? | |
| Accounts Receivable | 1,897,200? |
D.
| Sales Returns and Allowances | 142,800? | |
| Sales | 142,800? | |
| Cost of Goods Sold | 85,400? | |
| Inventory Returns Estimated | 85,400? |
E.
| Accounts Receivable | 2,040,000? | |
| Sales | 2,040,000? |
Which of the following is NOT suggested for your conclusion?
a. bringing back a previous story b. integrating humor c. asking a rhetorical question d. making your audience feel guilty so they will act
According to the textbook, which company was recognized by the Ethisphere Institute as the most ethical company in the world due to its strong commitment to the community and corporate citizenship?
A. L’Oréal B. Southwest Airlines C. Enron D. Pioneering Health
The use of a mix of insourcing and outsourcing is referred to as _______.
a. fixed sourcing b. low sourcing c. co-sourcing d. multisourcing