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Author Question: If the perpetual inventory system is used, the merchandise inventory account is debited for ... (Read 74 times)

pane00

  • Hero Member
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  • Posts: 579
on: Jul 5, 2018
If the perpetual inventory system is used, the merchandise inventory account is debited for purchases ofmerchandise.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

Refer to the financial statement above. The Common stock balance (B above) equals ________.
 
  A) 10,000
  B)  7,000
  C) 13,000
  D)  3,000


bd5255

  • Sr. Member
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  • Posts: 386
Reply #1 on: Jul 5, 2018
Answer to Question 1

True

Answer to Question 2

B


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