ECON 545 Week 2 DQ 2 Controlling Costs

 In the file MGT 449 Week 5 Discussion Questions you will find right solution of the following questins:


 1. What are the most important steps an organization must follow to implement a quality program? How does the role of management affect implementation?


 2. How does a formalized quality program create a competitive advantage for an organization? How would you recommend an organization overcome resistance to change when implementing such a plan?


 3. changes would you make to improve the quality in your department or organization?

Business - Accounting
 31.A company raised $50,000 in cash by taking a one-year loan of $10,000 and a 5-year loan of $40,000. Which of the following is the correct journal entry to record this transaction?



 Debit short-term debt $40,000; debit retained earnings $10,000; credit cash $50,000



 Debit short-term debt $50,000; credit cash $50,000



 Debit cash $50,000; credit long-term debt $50,000



 Debit cash $50,000; credit short-term debt $10,000; credit long-term debt $40,000





 32.Which one of the following statements describes the rules about posting transactions into T-accounts in the ledger?



 For assets, debits are entered on the left; for liabilities, credits are entered on the left



 For assets, credits are entered on the left; for liabilities, debits are entered on the left



 Debits on the left; credits on the right



 Credits on the left; debits on the right





 33.Baxtra, Inc. pays $20,000 in cash as interest to its lenders during 2005. According to U.S. GAAP, in which section of the statement of cash flows would this payment be included?



 The operating section



 The financing section



 The investing section



 Depends on whether cash flow statement is direct or indirect method.





 34.Taylor Company had a salaries payable balance of $18,000 on December 31, 2004. During 2005, it paid $50,000 in cash as salaries, and recorded a salary expense of $50,000. Its December 31, 2005 salaries payable balance is:



 $50,000



 $18,000



 $100,000



 Cannot be determined from the information provided





 35.On April 30, 2005, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement that best describes the recording of this financial transaction by Imperial Distributors.



 Debit cash $3,500; credit accounts payable $3,500



 Debit accounts receivable $3,500; credit cash $3,500



 Debit accounts payable $3,500; credit cash $3,500



 Debit cash $3,500; credit accounts receivable $3,500





 36.Sardi Company estimates its 2005 tax expense to be $80,000. It makes a cash payment of $20,000 to the tax authorities on December 31, 2005. How should this transaction be recorded by Sardi?



 Debit tax expense $80,000; credit cash $60,000; credit taxes payable $20,000



 Debit tax expense $80,000; credit cash $20,000; credit taxes payable $60,000



 Debit tax expense $80,000; credit cash $20,000



 Debit tax expense $80,000; credit cash $20,000; credit accounts payable $60,000



 37.On June 1, 2005, Planet Music has accounts payable of $45,000. During the month, debits of $3,000 and credits of $11,000 were made to the account. At th

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