A Merchandiser Uses a Perpetual Inventory System

question 30

Multiple Choice

A merchandiser uses a perpetual inventory system.The beginning Retained Earnings balance of the merchandiser was $95,000.During the year,Sales Revenue amounted to $75,000,Cost of Goods Sold was $30,000,and all other expenses totaled $12,000.The company declared and paid $19,000 as dividends.The last step in the closing process would include ________.

• A)a debit to Income Summary for $33,000
• B)a credit to Income Summary for $19,000
• C)a debit to the Retained Earnings account for $33,000
• D)a debit to the Retained Earnings account for $19,000

Detail the procedures and statistical tools used in work measurement and standard time determination.

Calculate the cash position given financial information.

Analyze the financial impact of sales growth on fixed assets and required additions.

Understand the concept of sustainable growth and the requirement for external financing under different growth scenarios.

---

Definitions:

Voltage-Gated Channels

Protein channels in cell membranes that open or close in response to changes in membrane potential, crucial for nerve impulse transmission.

Receptor Proteins

Proteins on the surface of cells that bind to specific molecules, initiating a biological response.

Chemical Signal Molecules

Substances released by cells that transmit messages to other parts of the body to initiate, amplify, or inhibit biological processes.

Enzymes

Biological molecules that act as catalysts to speed up chemical reactions in living organisms, crucial for metabolic processes.