S] Which of the following inventory conting methods uses the count of the oldest purchases to calculate the cost of goods sold? A) Specific identification B) Weighted average Last-in-out D) - find-cut * When a company is using the direct weite-off method, and amount is well the jumal entry.com Acredit Accounts Receivable and a debt to Interne ) cedit to Accounts Receivable and a debit to Bed Despre debit to the Allowance for tad Dates and credit to Accounts Receivable D) debt to Accounts Receivable and credit to ask X:) Which of the following would be induded in the melted on NS dede? A) a debit to Bank Expense and credit tosh Badebit to Accounts Receivable and credito Cash debit to Accounts Payable and condito Gush Da debit Cash and credit to Accounts Receivable ** Calculate the interest on a 30-day, 8 note for $26.000. (U 30-day your screen) A) SMO 9810 DO 09 **Acompany has a petty cash fund amount of $200. When replenished, thus polycheepers of 330 for gas expen, 512 for postage spee, 516 for supplies expense and Siformicellaneous expenses. Assume the cash balance is not over or short. In the jumal entry, Cath would be credited A) 572 9978 D) 1 Which of the following is the correct formula toalete inventory tumover A) Inventory tumorer-Cost of goods sold Average merchandise inventory B) Inventory tumorer Cost of goods sold Average merchandise inventory Inventory tumor-Cost of goods sold Average merchandise inventory D) Inventory tumorerCast of goods sold - Avenge merchandise inventory XLI) Which of the following principles states that a businefinancial statements must port enough information for outsiders to make Knowledgeable decisions about the company? A) materiality concept 5) consistency principle Accounting com D) dindore principle GAP requires most companies to use the A) 0-day method to evaluate hadde 3) amortion method to evaluate hadde allowance method to evaluated debts. D) direct we method to evaluate bad debts. 3 Acompanying the perpetual inventory and invesy worth $25,000 with term of 2/10, Defective Inventory of 50.000 med 2 days later and the were appropriately adjusted the inte is paid within 10 days, the amount of the purchase discount that would be wailable to the company is A) $500 B) 0. SA * 4)A pedalomalle A) an accounting sumal that holds individual accounts that supporta specific gmeral ledge B) amcord of account that provides supporting details on individual balances, the which appears in a gleder sect Gated list of the accounted by a business entity to define theme of them for which che spent or old Dan contingumal designed to record a specific type of transaction 1 15. What is the maturity value of a 3-month, 10% for 60,000 A) $40,000 B) SOCO NILA D) 2.000 * ) Tangent Corporation makes a $1.200 purchase of merchandise inventory an account. The transaction will be recorded in the A) cash payment mal jumal helps mal puhas jumal 17) A check for which maker's bank account has inadequate money to pay the check is known as A) a restrictive check Bancutanding check Qacanced check Danielfunded OU