Williard Corporation regularly sells inventory items to its subsidiary, Petty, Inc If unrealized profits in Petty's 2016 year-end inventory exceed the unrealized profits in its 2017 year-end inventory, 2017 combined

a. cost of sales will be less than consolidated cost of sales in 2017 .
b. gross profit will be greater than consolidated gross profit in 2017 .
c. sales will be less than

Which of the following is true of a specialty product?

a. It is widely distributed in a geographic area in order to sell sufficient quantities to meet profit goals. b. It is marketed using selective, status-conscious advertising that maintains its exclusive image. c. It is bought only after comparing several brands or stores on style, practicality, price, and lifestyle compatibility. d. It is sold using aggressive personal selling as consumers do not seek out this type of product.

A petty cash fund was established with a $300 balance. It currently has cash of $73 and petty cash tickets totaling $222 for travel expense. Provide the journal entry to record the replenishment of the fund

What will be an ideal response