Which of the following items does not result in an adjustment in the merchandise inventory account under

Question:

Which of the following items does not result in an adjustment in the merchandise inventory account under a perpetual system?

(a) A purchase of merchandise

(b) A return of merchandise inventory to the supplier

(c) Payment of freight costs for goods shipped to a customer

(d) Payment of freight costs for goods received from a supplier

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

1st Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

See More Books

Question Posted: Jun 13, 2024 02:07 AM

See More Questions

Which of the following items does not result in an adjustment in the Inventory account under a perpetual system? (a) A purchase of merchandise. (b) A return of merchandise inventory to the supplier....
Gross profit is calculated as the difference between net sales revenue and ________. A) purchases B) cost of goods sold C) cost of merchandise inventory D) selling and administrative expenses A C D B...
Which of the following items does not result in an adjustment in the Inventory account under a perpetual system? (a) A purchase of inventory. (b) A return of inventory to the supplier. (c) Payment of...
A trader has a soft limit of $8MM USD and a hard limit of $10MM USD. Their current NOP is $3MM USD. They purchase $6MM USD, sell $1MM USD, and then purchase another $5MM USD. Which of the following...
Air enters a turbine at 800 kPa, 1200 K, and expands in a reversible adiabatic process to 100 kPa. Calculate the exit temperature and the work output per kilogram of air, using a. The ideal gas...
The data in CPI-U reflect the annual values of the consumer price index (CPI) in the United States over the 52-year period 1965 through 2016, using 1982 through 1986 as the base period. This index...
What characterizes flexible manufacturing sys tems? LO8
Healthy Hound, Inc., makes two lines of dog food: (1) Basic Chunks, and (2) Custom Cuts. The Basic Chunks line is a dry food that is processed almost entirely by an automated process. Custom Cuts is...
The field of organizational behavior is more likely to focus on understanding the underlying causes of employee job satisfaction, while the field of human resource management is more likely to focus...
The income statement for a merchandising company shows each of these features except: (a) gross profit. (b) cost of goods sold. (c) a sales revenue section. (d) All of these are present.
Which of the following statements about a periodic inventory system is true? (a) Cost of goods sold is determined only at the end of the accounting period. (b) Detailed records of the cost of each...
IceCap Hotels operates a series of northern European hotels and reports under IFRS. On June 30, 2016, IceCap purchased a hotel for 2,100,000. IceCap reports hotel values on the balance sheet under...
Suppose the annual rate of inflation in Taiwan is 6.66%, and the annual rate of inflation in Mexico is 5.99%. If the Mexican peso depreciates relative to the Taiwan dollar by 4% in real terms, then...
What is the average age (measured by the variable "age") of the sample in the GSS93 subset.sav data set? Is there a significant difference in the age of those who favor the death penalty for murder...
Solve the system of linear equations, using the Gauss-Jordan elimination method. (If there is no solution, enter NO SOLUTION. If there are infinitely many solutions, express your answer in terms of...
The pay disparity is due to several reasons, one of the main ones being the old stereotypes based on the archetype of the man as the breadwinner of the family. Women are usually hired at a lower...
Prepare Balance Sheet: To do this activity you are required to assume the amount and line items that are to be shown on the balance sheet of your business selling homemade articles. Using the...
Determine the magnitude of F 1 and its direction ? so that the resultant force is directed vertically upward and has a magnitude of 800 N. Fi 600 N 400 N
What are the principal alloying elements in SAE 4340 steel?
Choose any company from S & P 500 stock index. Get the price of the chosen stock (monthly price) over a 5-year period from Yahoo Finance. Get the price of S & P 500 index over the same period....
BJ's goal is to have $50,000 saved at the end of Year 5. At the end of Year 2, they can add $7,500 to their savings but they want to deposit the remainder they need to reach their goal today, Year 0,...
Consider the A corporation that have lost money in the past and that have net operating losses (NOLs) that can be used to decrease their taxable income in future years.Given just this information...

Which of the following items does not result in an adjustment in the merchandise inventory account under

Question:

Step by Step Answer:

Financial Accounting Tools For Business Decision Making

Students also viewed these Business questions