Abc mart received a $20 freight bill for merchandise it purchased with freight terms of fob shipping point. abc mart uses a perpetual inventory system. assuming it paid the bill immediately, demonstrate the journal entry required to record the freight charges.
a. debit freight in $20; credit cash $20
b. debit freight in $20; credit merchandise inventory $20
c. debit transportation in $20; credit cash $20
d. debit merchandise inventory $20; credit cash $20

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respectively. income reported on the income statement for the year was $180,000. exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

What is the sequence of events that could lead to trade surplus

An investor purchases 500 shares of nevada industries common stock for $22.00 per share today. at t = 1 year, this investor receives a $0.42 per share dividend (which is not reinvested) on the 500 shares and purchases an additional 500 shares for $24.75 per share. at t = 2 years, he receives another $0.42 (not reinvested) per share dividend on 1,000 shares and purchases 600 more shares for $31.25 per share. at t = 3 years, he sells 1,000 of the shares for $35.50 per share and the remaining 600 shares at $36.00 per share, but receives no dividends. assuming no commissions or taxes, the money-weighted rate of return received on this investment is closest to: