In a job order costing system, when indirect materials are used, the Overhead account is increased
Indicate whether the statement is true or false
True
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On September 12, Ryan Company sold merchandise in the amount of $9800 to Johnson Company, with credit terms of 3/10, n/30. The cost of the items sold is $6000. Ryan uses the periodic inventory system and the net method of accounting for sales. Johnson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Ryan makes on September 18 is:
A.
| Cash | 9800? | |
| Accounts receivable | 9800? |
B.
| Cash | 9506? | |
| Accounts receivable | 9506? |
C.
| Cash | 5820? | |
| Sales discounts | 180? | |
| Accounts receivable | 6000? |
D.
| Cash | 9506? | |
| Sales discounts | 294? | |
| Accounts receivable | 9800? |
E.
| Cash | 6000? | |
| Accounts receivable | 6000? |
What type of e-mail should you avoid sending while at work or from a work account?
a. forwards b. jokes c. e-mails containing emoticons d. all of the above
Which of the following statements is CORRECT?
A. Some of the cash flows shown on a time line can be in the form of annuity payments, but none can be uneven amounts. B. A time line is not meaningful unless all cash flows occur annually. C. Time lines are not useful for visualizing complex problems prior to doing actual calculations. D. Time lines cannot be constructed in situations where some of the cash flows occur annually but others occur quarterly. E. Time lines can be constructed for annuities where the payments occur at either the beginning or the end of the periods.
If the direct method is used to prepare a statement of cash flows, the cost of goods sold from the income statement will be adjusted
A) for changes in inventory to arrive at net purchases. B) for changes in accounts payable to arrive at cash payments for purchases. C) Both of these choices.