Under the perpetual inventory system which journal entry would indicate a purchase of merchandise?
A. Debit, Inventory and credit, Cash.
B. Debit, Purchases and credit, Cash.
C. Debit, Costs of Goods Sold and credit, Inventory.
D. Debit, Inventory and credit, Cost of Goods Sold.
A
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Under the current GAAP additional depreciation due to market values in excess of book values no longer necessitates a reduction in the equity in subsidiary income (on the books of the parent) under the complete equity method
a. true b. false
The Fountaindale Adult Literacy Education Program needs to understand and target all of the following potential markets EXCEPT which one?
a. adults interested in teaching and literacy b. illiterate adults in the Fountaindale community c. community members in good economic circumstances d. the administrative board of the organization