A $4,000 machine is purchased by paying $1,000 cash and issuing a promissory note for the remainder. The journal entry should include a
a. credit to Machinery.
b. credit to Notes Payable.
c. credit to Notes Receivable.
d. debit to Cash.
B
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In which strategy does a retailer adjust its self-space allocations to respond to customer and other differences among local markets?
a. micromerchandising b. concentrated marketing c. cross-merchandising d. niche marketing
One aspect of using a cost leadership strategy is that experience effects may lead to lower costs. Experience effects are achieved by
A. spreading out a given expense or investment over a greater volume. B. hiring more experienced personnel. C. competing in an industry for a long time. D. repeating a process until a task becomes easier.
In an attempt to regain a competitive edge, U.S. firms have
A. reduced production costs by selecting suppliers that offer high-quality raw materials and components at reasonable prices. B. used green manufacturing to conserve natural resources and sustain the planet. C. used computer-aided and flexible manufacturing systems that allow a higher degree of customization. D. improved control procedures to help ensure lower manufacturing costs. E. all of these answer choices.
(a) What pressures or factors will executives use to encourage accounting managers and staff to go along? (b) What arguments can you use to resist those pressures? (c) How does one determine whether a company is aggressively reporting, but still in the guidelines of GAAP, versus fraudulently reporting financial information?
What will be an ideal response?