Scott Company Is a Merchandising Business That Was Started in 2012.Scott

question 141

Essay

Scott Company is a merchandising business that was started in 2012.Scott uses the perpetual inventory system.It experienced the following events during 2012.
1.Acquired $25,000 cash by issuing common stock
2.Purchased inventory on account that cost $14,000,terms 2/10,n/30
3.Sold inventory that had cost $8,400 for $15,000 cash
4.Paid for the merchandise referred to in event 2,within the discount period
Required:
a)Record the events in the financial statements model below; include column totals.
b)Prepare an income statement for 2012.
c)What is the amount of total assets at the end of 2012?

Identify the largest and most dominant approach in current personality psychology.

Explain the role of unconscious forces in psychoanalytic approaches to personality.

Describe the effectiveness and limitations of behaviorism in personality change.

Understand and articulate Funder’s First Law and its implications for personality psychology.

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Definitions:

Weak Hierarchy

An organizational structure where there are fewer levels of middle management between staff and executives, leading to a more flexible and less formal decision-making process.

Flexible Hierarchy

Flexible Hierarchy describes an organizational structure that allows for more fluid and adaptable roles and levels of authority, compared to traditional, rigid hierarchies.

Needs

Fundamental requirements or necessities for human beings to achieve a basic level of well-being, including physiological, safety, love/belonging, esteem, and self-actualization.

Need for Affiliation

An individual's desire to form connections and foster positive relationships with others.