A merchandiser uses a perpetual inventory system. The beginning Retained Earnings balance of the merchandiser was $99,000
During the year, Sales Revenue amounted to $73,000, Sales Returns and Allowances were $1,400, Sales Discounts were $3,100, Cost of Goods Sold was $30,000, and all other expenses totaled $16,000. The company declared and paid $25,000 as dividends. The last step in the closing process would include ________.
A) a debit to Income Summary for $50,500
B) a credit to Income Summary for $73,000
C) a debit to the Retained Earnings account for $20,500
D) a debit to the Retained Earnings account for $25,000
D
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Refer to the information above. What is the optimal EOQ?
A) 200 bags B) 5000 bags C) 2500 bags D) 100 bags E) 50 bags
An ad that has informal balance has:
A) bisymmetric design. B) objects seemingly placed at random; yet, they are in relation to one another so the ad as a whole appears in balance. C) elements of equal weight, size, and shape on both side of an imaginary vertical line drawn down its center. D) elements of equal weight, size, and shape on either side of an imaginary vertical line drawn down its center. E) all elements except the logo are symmetrically balanced.