Part of the journal entry to record the cost of an item for $24 that sold for $39 cash under the perpetual inventory system is:
A) debit Sales, $39; credit Cost of Goods Sold, $24; credit Cash, $15.
B) debit Cost of Goods Sold, $39; sales, $39.
C) debit Cash, $39; credit Inventory $39.
D) debit Cost of Goods Sold $24; credit Inventory, $24.
D) debit Cost of Goods Sold $24; credit Inventory, $24.
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In which of the following is a person performing the role of an influencer?
A) Dan decides on the product requirements and makes the final choice of suppliers. B) Luke has the authority to pick out the supplier and negotiate the terms of purchase. C) Liam heads the Tech team at LKG and provides information for evaluating the possible alternatives. D) LKG gets many calls from potential suppliers, and it is Leah's job to weed out the good prospects and refer them to others in LKG. E) Dana authorizes the actions of the deciders and buyers in LKG.
A company's income before interest expense and income taxes in Year 1 and Year 2 is $487,500 and $427,000, respectively. Its interest expense was $125,000 for both years. Calculate the company's times interest earned ratio, and comment on its level of risk.
What will be an ideal response?
A company had net income of $230,000. Depreciation expense is $26,000. During the year Accounts Receivable and Inventory increased $15,000 and $40,000, respectively. Prepaid Expenses and Accounts Payable decreased $2,000 and $4,000, respectively. There was also a loss on the sale of equipment of $3,000. Using the indirect method, what is the amount of net cash flows from operating activities on
the statement of cash flows? A) $196,000 B) $202,000 C) $276,000 D) $288,000
In the past, it was believed that ______________ factors that control the way a person deals with the task tend to inhibit creativity. More recently, this theory from the past has been revised to suggest the possibility that it could actually support _____________ motivation, especially when the levels of motivation are already high.
Fill in the blank(s) with the appropriate word(s).