Credit card sales amount to $4,500 plus $200 sales tax. The credit card fee is 4%. This transaction would include a
a. debit to Bank Credit Card Expense
of $180; b. credit to Sales of $4,700; c. debit to Cash of $4,512; d. debit to Accounts Receivable of $4,500; e. none of these
C
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When a company must pay for ads that refute false claims it had made in previous ads, it is called a(n):
A) consent order B) administrative ruling C) cease and desist order D) corrective advertisement
For users of financial statements, the current liability classification in the balance sheet is important because it is most closely tied to the concept of profitability
a. True b. False Indicate whether the statement is true or false
In the Maslow hierarchy of needs, those needs that are concerned with love and friendship are referred to as ________ needs.
A. self-actualization B. personal C. social D. physiological E. safety
During the month of June, Telecom Inc had cost of goods manufactured of $112,000, direct materials cost of $52,000, direct labor cost of $37,000 and overhead cost of $26,000. The Work in Process balance at June 30 equaled $10,000. What was the Work in Process balance on June 1?
A) $7,000 B) $13,000 C) $10,000 D) $115,000