Finer Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of May. May. 2 Sold merchandise costing $400 to B. Facer for $600 cash, invoice no. 5703.5 Purchased $2,450 of merchandise on credit from Marchant Corp.7 Sold merchandise costing $1,080 to J. Dryer for $1,566, terms 2/10, n/30, invoice no. 5704.8 Borrowed $8,000 cash by signing a note payable to the bank.12 Sold merchandise costing $270 to R. Lamb for $432, terms n/30, invoice no. 5705.16 Received $1,535 cash from J. Dryer to pay for the purchase of May 7.19 Sold used store equipment for $900 cash to Golf, Inc.25 Sold merchandise costing $450 to T. Taylor for $707, terms n/30, invoice no. 5706.Journalize the May transactions that should be recorded in the sales journal assuming the perpetual inventory system is used.

Collective bargaining provides for a representative of employees to negotiate with a representative of management over labor issues including wages.true or false?

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.