« previous next »

Author Question: The first adjusting entry for merchandise inventory with the periodic inventory system is a credit ... (Read 103 times)

urbanoutfitters

  • Hero Member
  • *****
  • Posts: 530
on: Jul 6, 2018
The first adjusting entry for merchandise inventory with the periodic inventory system is a credit to Merchandise Inventory and a debit to Income Summary.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Which of the following should be included in tax revenues for the current year?
 
  A. Taxes collected this year that have been levied for next year.
  B. Prior year taxes collected during the first 60 days of this year.
  C. Taxes levied this year but not collected until mid-year of the next year.
  D. Taxes levied 2 years ago and collected in first 60 days of the next year.


1_Step_At_ATime

  • Sr. Member
  • ****
  • Posts: 342
Reply #1 on: Jul 6, 2018
Answer to Question 1

True

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

urbanoutfitters

  • Hero Member
  • *****
  • Posts: 530
Reply #2 on: Jul 6, 2018
Correct answers!


1_Step_At_ATime

  • Sr. Member
  • ****
  • Posts: 342
Reply #3 on: Jul 6, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Components of the nervous system. Components of the nervous system.
If the valve clearance (lash) is not correct, loosen the retaining nut and turn the valve adjusting ... If the valve clearance (lash) is not correct, loosen the retaining nut and turn the valve adjusting ...
A fuel system tester connected in series in the fuel system so all of the fuel used flows through ... A fuel system tester connected in series in the fuel system so all of the fuel used flows through ...
System of a patient in shock System of a patient in shock
The Human Olfactory System The Human Olfactory System
Two Allele System Two Allele System
Video: The Lac Operon in E. Coli

For a complete list of videos, visit our video library