The goods a company has available to sell to customers are called

a. supplies.

b. sales.

c. cost of goods sold.

d. merchandise inventory.

1. On March 1, a business paid $3,600 for a twelve month liability insurance policy. On April 1 the same business entered into a two-year rental contract for equipment at a total cost of $18,000.

On January 1, Fey Properties collected $7,200 for six months' rent in advance from a tenant renting an apartment. Fey Properties prepares monthly financial statements. Which of the following describes the required adjusting entry on January 31? A.

You are working with Starbucks to increase consumer landings on the company's web pages, which promote and sell Starbucks' at-home coffee-brewing systems.

Wolfgang, who is age 33, records AGI of $125,000. He incurs the following itemized deductions for 2018: Medical expenses [$15,000 - (7.

On October 5, Cullumber Company buys merchandise on account from Oriole Company. The selling price of the goods is $6,370, and the cost to Oriole Company is $3,420.

What is an over-zealous speaker?

The amount of fica tax that employers must pay is twice the amount of the fica taxes withheld from their employees. true or false

Joe tells you, "I'm concerned that if a Theo Chocolate manager is doing something unethical, I'm not going to hear about it." He asks, "What can I do to encourage employees to speak up if they see something wrong?" What advice would you give him?

A company determines the cost of goods sold each time A. a sale occurs in a periodic inventory system only. B. a perpetual inventory system only. C. both a periodic and perpetual inventory system. D. neither a periodic nor perpetual inventory system.

Sarah, a manager at Ackles Inc, plays pranks on her subordinates in an attempt to make the workplace livelier. She trusts her subordinates and does not care much about the quality of their work.