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Question : 11) Under the perpetual inventory system, in addition to making : 1171069

Accounting

 

11) Under the perpetual inventory system, in addition to making the entry to record a return of goods from a customer, a company would:

A) debit Merchandise Inventory and credit Cost of Goods Sold.

B) debit Cost of Goods Sold and credit Merchandise Inventory.

C) debit Sales and credit Cost of Goods Sold.

D) debit Purchases and credit Cost of Goods Sold.

12) A credit customer purchased $450 worth of items. Two days later, the customer returned $300 worth of those items. The entry to record this under the perpetual inventory method would include:

A) a debit to Sales Returns and Allowances $300

B) a credit to Merchandise Inventory for our cost.

C) a debit to Cost of Goods Sold for our cost.

D) a credit to Sales Returns and Allowances $300

13) The perpetual inventory system is a system which:

A) updates inventory only at the end of each period.

B) uses only LIFO method.

C) needs a physical inventory taken.

D) Both A and B are correct.

14) The company returned $400 of damaged merchandise purchased on credit. The entry to record this under the periodic inventory method is:

A) debit Merchandise Inventory $400; credit Accounts Payable $400.

B) debit Cost of Goods Sold $400; credit Accounts Payable $400.

C) debit Accounts Payable $400; credit Purchases Returns and Allowances $400.

D) debit Accounts Payable $400; credit Merchandise Inventory $400.

15) A customer returned merchandise that had been paid for within a discount period for credit. The entry was recorded with a debit to Sales Returns and Allowances and a credit to Accounts Receivable for the net amount. This error would cause:

A) the period end assets to be understated.

B) the period end liabilities to be understated.

C) the period’s net income to be understated.

D) None of these is correct.

16) The freight paid on goods purchased F.O.B. shipping point was debited to the Freight Expense account. The goods are not sold at period end. The company uses the perpetual inventory method. This error would cause:

A) the period end assets to be understated.

B) the period end liabilities to be understated.

C) the period’s net income to be overstated.

D) None of these is correct.

17) The return of merchandise was recorded as a debit to Accounts Payable and a credit to Purchases. This error would cause:

A) the period end assets to be understated.

B) the period end liabilities to be understated.

C) the period’s net income to be understated.

D) None of these is correct.

18) The freight paid on goods purchased F.O.B. shipping point was debited to the Purchases account. The company uses the periodic method. This error would cause:

A) the period end expenses to be understated.

B) the period end expenses to be overstated.

C) the period’s net income to be understated.

D) None of these is correct.

19) Office Supplies bought on account were returned for credit and recorded with a debit to Accounts Payable and a credit to Merchandise Inventory. This error would cause:

A) the period end Cost of Goods Sold to be understated.

B) the period end Cost of Goods Sold to be overstated.

C) the period’s net income to be overstated.

D) None of these is correct.

20) The journal entry to record a customer’s return of an item for a cash refund would:

A) be the same under both the periodic and perpetual system.

B) only include one entry under the perpetual system.

C) include two entries under the perpetual system.

D) include none of the above.

 

 

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July 1, 2023
    

Directions: Please provide detailed and elaborate responses to the following questions.  Your response to each should be a minimum of one half of one page in length and should include examples from the reading assignments.

 

1.What meaning, if any, do you believe that life has?  Explain why you believe that life has the meaning (or lack of meaning) that you describe.

 

2.Do you agree with Hegel that human history exhibits progress?  Explain.

 

3.Does it matter whether or not life has meaning?  If life has no meaning but you are having a lot of fun, should you look closely at the question of whether life has meaning?  If you are happy and unbothered, is it better to ignore the question, or is there some reason to look at the question closely anyway?  Explain your answer.

 

4.What are some of the implications of Fukuyama’s view that history has ended?

 

 

PART II: Research Paper III

 

In a research paper two to three pages in length, please respond to the following prompt: you meet someone at a party who whole heartedly believes that one’s stuff and the accumulation of wealth and belongings is what gives one’s life meaning.  Do you disagree with this view?

 

This research paper requires you to examine the meaning of life.  You must posit a position and give three substantial reasons as to why you hold to your particular view about your meaning of life.

 

Please use at least two articles on this topic and to support your argument.  Remember that you may utilize LIRN to help you search for resources.  You can visit the Academic Resource Center for a guide on how to utilize LIRN successfully.  These resources must be cited in APA format.

 

Please consider the following questions as you develop your position:

 

  • •Do I agree that one’s wealth and belongings give one meaning? 
  • •Is it possible in some sense that one’s possessions can give one meaning?  In what sense? 
  • •Where does experience and memory and other reasons given about meaning fit in?
  • •Why am I for this view?

 

 

Your final paper must be written in Times New Roman 12 point font and double spaced with one inch margins.  Please remember to use APA format both in the body of your paper and your citations. 

default image
July 1, 2023
    

Directions: Please provide detailed and elaborate responses to the following questions.  Your response to each should be a minimum of one half of one page in length and should include examples from the reading assignments.

 

1.What meaning, if any, do you believe that life has?  Explain why you believe that life has the meaning (or lack of meaning) that you describe.

 

2.Do you agree with Hegel that human history exhibits progress?  Explain.

 

3.Does it matter whether or not life has meaning?  If life has no meaning but you are having a lot of fun, should you look closely at the question of whether life has meaning?  If you are happy and unbothered, is it better to ignore the question, or is there some reason to look at the question closely anyway?  Explain your answer.

 

4.What are some of the implications of Fukuyama’s view that history has ended?

 

 

PART II: Research Paper III

 

In a research paper two to three pages in length, please respond to the following prompt: you meet someone at a party who whole heartedly believes that one’s stuff and the accumulation of wealth and belongings is what gives one’s life meaning.  Do you disagree with this view?

 

This research paper requires you to examine the meaning of life.  You must posit a position and give three substantial reasons as to why you hold to your particular view about your meaning of life.

 

Please use at least two articles on this topic and to support your argument.  Remember that you may utilize LIRN to help you search for resources.  You can visit the Academic Resource Center for a guide on how to utilize LIRN successfully.  These resources must be cited in APA format.

 

Please consider the following questions as you develop your position:

 

  • •Do I agree that one’s wealth and belongings give one meaning? 
  • •Is it possible in some sense that one’s possessions can give one meaning?  In what sense? 
  • •Where does experience and memory and other reasons given about meaning fit in?
  • •Why am I for this view?

 

 

Your final paper must be written in Times New Roman 12 point font and double spaced with one inch margins.  Please remember to use APA format both in the body of your paper and your citations. 

default image
July 1, 2023
    

Directions: Please provide detailed and elaborate responses to the following questions.  Your response to each should be a minimum of one half of one page in length and should include examples from the reading assignments.

 

1.What meaning, if any, do you believe that life has?  Explain why you believe that life has the meaning (or lack of meaning) that you describe.

 

2.Do you agree with Hegel that human history exhibits progress?  Explain.

 

3.Does it matter whether or not life has meaning?  If life has no meaning but you are having a lot of fun, should you look closely at the question of whether life has meaning?  If you are happy and unbothered, is it better to ignore the question, or is there some reason to look at the question closely anyway?  Explain your answer.

 

4.What are some of the implications of Fukuyama’s view that history has ended?

 

 

PART II: Research Paper III

 

In a research paper two to three pages in length, please respond to the following prompt: you meet someone at a party who whole heartedly believes that one’s stuff and the accumulation of wealth and belongings is what gives one’s life meaning.  Do you disagree with this view?

 

This research paper requires you to examine the meaning of life.  You must posit a position and give three substantial reasons as to why you hold to your particular view about your meaning of life.

 

Please use at least two articles on this topic and to support your argument.  Remember that you may utilize LIRN to help you search for resources.  You can visit the Academic Resource Center for a guide on how to utilize LIRN successfully.  These resources must be cited in APA format.

 

Please consider the following questions as you develop your position:

 

  • •Do I agree that one’s wealth and belongings give one meaning? 
  • •Is it possible in some sense that one’s possessions can give one meaning?  In what sense? 
  • •Where does experience and memory and other reasons given about meaning fit in?
  • •Why am I for this view?

 

 

Your final paper must be written in Times New Roman 12 point font and double spaced with one inch margins.  Please remember to use APA format both in the body of your paper and your citations. 

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