During annual inventory week, a department store may ask its employees to work 12 hours a day instead of the usual 8. during tax-preparation time, the store’s accounting department may work similar hours. although accounting employees are in a different department from stockroom and sales employees, it’s reasonable to expect that the accounting employees wouldn’t be terribly upset by the temporary change in hours because they’ve seen it in effect elsewhere in the store. this is an example of innovative change.(true/false).

On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350

Compute the cost of not taking the following cash discounts. (use a 360-day year. do not round intermediate calculations. input your final answers as a percent rounded to 2 decimal places.)

Taking commercial paper means the holder acts honestly