Southeastern Company sold merchandise for $4,450 to Northern Company on account. The cost of goods sold was $1,185. Southeastern Company uses a perpetual inventory system and special journals. The $4,450 is recorded as ________.
A) an entry in the general journal
B) Accounts Receivable DR, Sales Revenue CR column of the sales journal
C) Merchandise Inventory DR column of the purchases journal
D) Accounts Receivable CR column of cash receipts journal
B) Accounts Receivable DR, Sales Revenue CR column of the sales journal
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Activity-based costing (ABC):
A) should not be applied to non-manufacturing activities. B) should not be applied to service companies. C) can be applied to administrative activities. D) can only be used by manufacturing companies.
Administrative laws are laws enacted by governments to regulate the operation of only government employees and government-run organizations
Indicate whether the statement is true or false
Money markets are markets for long-term funds such as bonds and equity
Indicate whether the statement is true or false
Identify the financial analysis building block most appropriately associated with each ratio listed below. Each building block may be used more than once.
A. Price Earnings Ratio B. Dividend Yield C. Accounts Receivable Turnover D. Days' Sales in Inventory E. Inventory Turnover F. Return on Total Assets G. Basic Earnings per Share H. Equity Ratio I. Debt Ratio J. Times Interest Earned