Timber Manufacturing uses the perpetual inventory system and purchased $6,000 of merchandise inventory on account. The seller prepays $300 in freight charges which were added to Timber Manufacturing's invoice.
The journal entry for the purchase of merchandise on account using the perpetual inventory system is:

a. merchandise inventory: 6,000 debit
delivery expense: 300 debit
accounts payable: 6,300 credit
b. merchandise inventory: 6,000 debit
accounts payable: 6,600 credit
c. merchandise inventory: 6,300 debit
cash: 6,300 credit
d. merchandise inventory: 6,300 debit
accounts payable: 6,300 credit

Ajewelry direct sales company pays its consultants based on recruiting new members. question 1 options: the company is running a pyramid scheme, which is illegal. the company is running a pyramid scheme, which is legal. the company has implemented a legal and ethical plan for growth. the company uses this method of compensation to reduce the fee for the product sample kit.

Match the items with the actions necessary to reconcile the bank statement.(there's not just one answer)1. interest credited in bank account2. fee charged by bank for returned check3. checks issued but not deposited4. deposits yet to be crediteda. add to bank statementb. deduct from bank statementc. add to personal statementd. deduct from personal statement

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.