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19) Eller Co. received merchandise on consignment. As of January
31, Eller included the goods in inventory, but did not record the
transaction. What would be the effect of this on its financial
statements for January 31?
20) Cross Co. accepted delivery of merchandise that it purchased on
account. As of December 31, Cross had recorded the transaction,
but did not include the merchandise in its inventory. What would be
the effect of this on its financial statements for December 31?
21) The failure to record a purchase of merchandise on account even
though the goods are properly included in the physical inventory
results in
22) Fences and parking lots are reported on the balance sheet as
23) Which of these is not a major characteristic of a plant asset?
24) The debit for a sales tax properly levied and paid on the
purchase of machinery preferably would be a charge to
25) On November 1, 2007, Little Company purchased 600 of the
$1,000 face value, 9% bonds of Player, Incorporated, for $632,000,