Answer the following statements true (T) or false (F)
1. Transactions are recorded in order of the dollar amount of the transaction.
2. Chronological order dictates the order in which transactions are journalized.
3. The difference between total debits and total credits is known as the balance.
4. If an account's total credits are more than its total debits, then it has a positive balance.
5. Syrio's Snowboards pays rent in the amount of $9,000. This transaction includes a credit to Rent Expense.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
5. FALSE
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Antonio, a new supervisor at Fresh Food Inc., is being trained on skills that managers and union leaders require to encourage employee-management cooperation. He is learning the different ways of dealing with employee-management conflicts and how to resolve situations in ways that benefit both parties. In the context of labor management, Antonio is receiving training on
A. maintenance of membership. B. labor relations. C. corporate campaigns. D. right-to-work laws. E. checkoff provisions.
Answer the following statement(s) true (T) or false (F)
1. Authority is much more important than responsibility. Responsibility is mostly superfluous. 2. By claiming authority, you also assume responsibility. 3. One of the causes of the 2007 recession may have been unethical practices by financial firms. 4. Bribery is not a big deal if it benefits stakeholders. 5. As long as you bribe officials outside of the United States, the practice is legal and ethical.
A(n) ________ is a duty specifically levied to offset a subsidy
A. countervailing measure B. customs duty C. safeguarding measure D. excise duty
Koontz Company uses the perpetual inventory method and the weighted-average method. On January 1, Year 1, the company's first day of operations, Koontz purchased 400 units of inventory that cost $7.50 each. On January 10, Year 1, the company purchased an additional 600 units of inventory that cost $9.00 each. If the company sells 550 units of inventory, what is the amount of inventory that would appear on the balance sheet immediately following the sale?
A. $3,713 B. $3,080 C. $3,780 D. $4,738