题目内容

Suppose no beginning inventory, a company purchased and sold goods in the month of May as the following: May 2. Purchased 30 units at $10 per unit. May 12. Purchased 50 units at $12 per unit. May 15. Sold 40 units at $20 per unit. So, follow the weighted average costing method, the company's gross profit should be ()

A. 400
B. 320
C. 350
D. 380

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Which error can be found through a trial balance ()

A. a correct journal entry is posted twice
B. a correct journal entry is not posted
C. a transaction is not journalized
D. a $100 cash drawing by the owner is debited to Owner's Withdrawals for $1,000 and credited to Cash for $100.

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A company had no office supplies available at the beginning of the year. During the year, the company purchased $250 worth of office supplies. On December 31, $75 worth of office supplies remained. How much should the company report as office supplies expense for the year? ()

A. $75.
B. $125.
C. $250
D. $175.

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Good internal control dictates that a person who controls an asset also maintains that asset's accounting records. ()

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Liquidity refers to a company's ability to pay its near-term obligations. ()

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A. 400 B. 320 C. 350 D. 380

Which error can be found through a trial balance ()

A company had no office supplies available at the beginning of the year. During the year, the company purchased $250 worth of office supplies. On December 31, $75 worth of office supplies remained. How much should the company report as office supplies expense for the year? ()

Good internal control dictates that a person who controls an asset also maintains that asset's accounting records. ()

Liquidity refers to a company's ability to pay its near-term obligations. ()

A. 400
B. 320
C. 350
D. 380