Description : he journal entry to record a return of merchandise purchased on account under a perpetual inventory system would include a. Accounts Payable Sales Returns and Allowances b. Purchase Returns and ... Accounts Payable c. Accounts Payable Inventory d. Merchandise Inventory Cost of Goods Sold
Last Answer : d. Merchandise Inventory Cost of Goods Sold
Description : The journal entry to record a return of merchandise purchased on account under a perpetual inventory system would credit a. Accounts Payable. b. Purchase Returns and Allowances. c. Sales. d. Merchandise Inventory.
Last Answer : d. Merchandise Inventory.
Description : An analog signal carries 4 bits in each signal unit. If 1000 signal units are sent per second, then baud rate and bit rate of the signal are ............... and .............. (A) 4000 bauds \ sec & ... (B) 2000 bauds \ sec & 1000 bps (C) 1000 bauds \ sec & 500 bps (D) 1000 bauds \ sec & 4000 bps
Last Answer : (D) 1000 bauds \ sec & 4000 bps Explanation: Bit rate is the number of bits per second. Baud rate is the number of signal units per second. Baud rate is less than or equal to the bit rate. Baud rate = 1000 bauds per second (baud/s) Bit rate = 1000 x 4 = 4000 bps
Description : Process B had no opening inventory. 13,500 units of raw material were transferred in at Rs 4.50 per unit. Additional material at Rs1.25per unit was added in process. Labour and overheads were Rs 6.25 per completed unit and Rs ... 6562.50 (b) Rs. 12,250.00 (c) Rs. 14,437.50 (d) Rs. 25,375.00
Last Answer : (a) Rs 142,485
Description : A credit memorandum is used as documentation for a journal entry that requires a debit to a. Sales and a credit to Cash. b. Sales Returns and Allowances and a credit to Accounts Receivable. c. ... and a credit to a contra-revenue account. d. Cash and a credit to Sales Returns and Allowances.
Last Answer : d. Cash and a credit to Sales Returns and Allowances.
Description : If the balance in Merchandise Inventory is larger at the end of the year than at the beginning what adjusting entry would you make for this account?
Last Answer : Need answer
Description : The Merchandise Inventory account is used in each of the following except the entry to record a. goods purchased on account. b. the return of goods purchased. c. payment of freight on goods sold. d. payment within the discount period.
Last Answer : c. payment of freight on goods sold.
Description : AT Co makes a single product and is preparing its material usage budget for next year. Each unit of product requires 2kg of material, and 5,000 units of product are to be produced next year. Opening inventory of material is budgeted ... (a) 8,000 Kg((b) 9,840 kg ((c) 10,000 Kg (d) 10,160 Kg
Last Answer : ((c) 10,000 Kg
Description : Thrombolytic therapy has become a useful adjunct in the management of peripheral arterial occlusion. In this setting, direct intraarterial administration rather than intravenous has been advocated ... may be indicated for situations where complete clot evacuation cannot be accomplished surgically
Last Answer : Answer: a, b, e The most popular method for intraarterial thrombolytic therapy for arterial occlusion involves passing a guidewire through the thrombus with arteriographic guidance and ... acute arterial occlusion) or when distal vasculative is occluded and precludes appropriate inflow patency
Description : After inviting tenders for supply of raw materials, two quotations are received as follows- Supplier P Rs. 2.20 per unit, Supplier Q Rs. 2.10 per unit plus Rs. 2,000 fixed charges irrespective of the units ordered. The ... (a) 22,000 units (b) 20,000 units (c) 21,000 units (d) None of the above.
Last Answer : (b) 20,000 units
Description : From the following information, calculate the extra cost of material by following EOQ: Annual consumption: = 45000 units Ordering cost per order: = Rs. 10 Carrying cost per unit per annum: = Rs. 10 Purchase price per unit = Rs. ... ) No saving (b) Rs. 2,00,000 (c) Rs. 2,22,010 (d) Rs. 2,990
Last Answer : (d) Rs. 2,990
Description : Following information is available of PQR for year ended March, 2013: 4,000 units in process, 3,800 units output, 10% of input is normal wastage, Rs. 2.50 per unit is scrap value and Rs. 46,000 incurred towards total process cost ... be:- (a) Rs. 2,500 (b) Rs. 2,000 (c) Rs. 4,000 (d) Rs. 3,500
Last Answer : (a) Rs. 2,500
Description : Ledger posting is made before journal entry.
Last Answer : State whether the following statement are ‘True or False’ with reason : Ledger posting is made before journal entry.
Description : ____________ is the act of transferring an entry from journal to ledger.
Last Answer : ____________ is the act of transferring an entry from journal to ledger. (a) Journalising (b) Casting (c) Balancing (d) Posting
Description : Why is a journal called the book of prime entry?
Last Answer : Why is a journal called the book of prime entry?
Description : What was clarks entry into his journal when they reached the pacific?
Last Answer : great joy
Description : How do you post a journal entry for a HST refund?
Last Answer : Feel Free to Answer
Description : he journal entry to record a credit sale is a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales
Last Answer : d. Accounts Receivable Sales
Description : Give journal entry for adjusting profit made due to change in method of depreciation.
Last Answer : It can only be achieved by reducing rate of Dep retrospectively.
Description : Which is an example of primary data? A. journal entry B. survey C. census data D. news article
Last Answer : C. census data
Description : Detailed records of goods held for resale are not maintained under a a. perpetual inventory system. b. periodic inventory system. c. double entry accounting system. d. single entry accounting system.
Last Answer : b. periodic inventory system.
Description : Typical differences between goods and services do not include (a) cost per unit ; (b) ability to inventory items ; (c) timing of production and consumption (d) knowledge content
Last Answer : (a) cost per unit ;
Description : If link transmits 4000 frames per second and each slot has 8 bits, the transmission rate of circuit of this TDM is ______. a. 64 Kbps b. 32 Mbps c. 32 Kbps d. 64 MbpS
Last Answer : c. 32 Kbps
Description : If link transmits 4000 frames per second and each slot has 8 bits, the transmission rate of circuit of this TDM is ............... (A) 64 Kbps (B) 32 Mbps (C) 32 Kbps (D) 64 Mbps
Last Answer : (C) 32 Kbps
Description : The power per unit velocity of a wave with electric field as 8 units and density 10 units is a) 40 b) 20 c) 80 d) 160
Last Answer : c) 80
Description : Calculate the energy stored per unit volume in a dielectric medium due to polarisation when P = 9 units and E = 8 units. a) 1.77 b) 2.25 c) 36 d) 144
Last Answer : c) 36
Description : It is now expected that the variable production cost per unit and the selling price per unit will each increase by 10%, and fixed production cost will rise by 25%. What will be the new break even point? (a) 8,788 units (b) 11,600 units (c) 11,885 units (d) 12,397 units
Last Answer : (c) 11,885 units
Description : A company manufactures a single product for which cost and selling price data are as follows: Selling price per unit - Rs. 12 Variable cost per unit - Rs. 8 Fixed cost for a period - Rs. 98,000 Budgeted sales for a period - 30,000 units
Last Answer : (a) 20%
Description : CG Co manufactures a single product T. Budgeted production output of product T during June is 200 units. Each unit of product T requires 6 labour hours for completion and CG Co anticipates 20 per cent idle time. Labour is paid at ... for March is (a) Rs 6,720 (b) 8,400 (c) 10,080 (d) 10,500
Last Answer : (d) 10,500
Description : Calculate the value of closing stock from the following according to Weighted Average method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units ... 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700
Last Answer : (c) Rs. 786
Description : Calculate the value of closing stock from the following according to LIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700
Last Answer : (b) Rs. 805
Description : Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700
Last Answer : (a) Rs. 765
Description : The conductivity of a material with current density 1 unit and electric field 200 μV is a) 2000 b) 3000 c) 4000 d) 5000
Last Answer : d) 5000
Description : Calculate EOQ (approx.) from the following details: Annual Consumption: 24000 units Ordering cost: Rs. 10 per order Purchase price: Rs. 100 per unitCarrying cost: 5% (a) 310 (b) 400 (c) 290 (d) 300
Last Answer : (a) 310
Description : Most organizational purchase decisions are made by 1. one person 2. a team of purchasing agents 3. a firm's buying centre 4. inventory control personnel 5. the sales force
Last Answer : a firm's buying centre
Description : In a perpetual inventory system, a return of defective merchandise by a purchaser is recorded by crediting a. Purchases. b. Purchase Returns. c. Purchase Allowance. d. Merchandise Inventory.
Description : Baden Shoe Store has a beginning merchandise inventory of $30,000. During the period, purchases were $140,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed ... for sale was a. $164,000. b. $156,000. c. $176,000. d. $184,000.
Last Answer : c. Purchases Returns and Allo
Description : Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $20,000, terms 2/10, n/30. Returned $400 of the shipment for credit. Paid $100 freight on the shipment. ... . b. increased by $19,700. c. increased by $19,306. d. increased by $19,308.
Last Answer : d. increased by $19,308.
Description : Zach's Market recorded the following events involving a recent purchase of merchandise: Received goods for $50,000, terms 2/10, n/30. Returned $1,000 of the shipment for credit. Paid $250 freight on the shipment ... 020. b. increased by $49,250. c. increased by $48,265. d. increased by $48,270.
Last Answer : d. increased by $48,270.
Description : In a perpetual inventory system, the amount of the discount allowed for paying for merchandise purchased within the discount period is credited to a. Merchandise Inventory. b. Purchase Discounts. c. Purchase Allowance.
Last Answer : a. Merchandise Inventory.
Description : A buyer would record a payment within the discount period under a perpetual inventory system by crediting a. Accounts Payable. b. Merchandise Inventory. c. Purchase Discounts. d. Sales Discounts.
Last Answer : b. Merchandise Inventory.
Description : A ltd is a manufacturing company that has no production resource limitations for the foreseeable future. The Managing Director has asked the company mangers to coordinate the preparation of their budgets for the next financial year. In what order ... 5), (3), (2) (d) (4), (5), (3), (1), (2)
Last Answer : (b) (1), (5), (3), (4), (2)
Description : A manufacturer has decided to improve its inventory management by maintaining low inventory levels and waiting to purchase materials until right before they are needed in production. This inventory ... time (JIT). B)inventory minimisation. C)economic order quantity.D)reorder point maximisation.
Last Answer : D)reorder point maximisation.
Description : Input-output analysis is most likely to yield what type of information? A)The number of employees that a firm has B)The industries that purchase the major portion of an industry's output C ... is getting on its equipment investments D)The type of inventory turnover that is characteristic of a firm
Last Answer : B)The industries that purchase the major portion of an industry's output
Description : Most organisational purchase decisions are made by A)one person. B)a team of purchasing agents. C)a firm's buying centre. D)inventory control personnel. E)the sales force.
Last Answer : C)a firm's buying centre.
Description : Under vouching, checking is done of– (A) Journal and Ledger (B) Profit and Loss Account (C) Balance Sheet (D) All of the above
Last Answer : Answer: All of the above
Description : BO Journal in form Pa 5 kept in a) All BOs b) Selected BOs c) Account office d) All the above
Last Answer : a) All BOs
Description : An account bag from the SO to HO contain a) The SO daily A/c, MO issue journal, MO paid list. b) List of SB transactions/List of SB documents c) Memo of IPO, Certificate, issued and discharged d) A rolls, daily list of PLI premia collected and paid e) All the above
Last Answer : e) All the above
Description : Primary book" maintained in a business is 1. Journal 2. Ledger 3. Cash book 4. Account book 5. None of these
Last Answer : Journal
Description : After the adjusting entries are journalized and posted to the accounts in the general ledger, the balance of each account should agree with the balance shown on the a. adjusted trial balance. b. post-closing trial balance. c. the general journal. d. adjustments columns of the worksheet.
Last Answer : a. adjusted trial balance.