External link to Question : 181.Following seven items a through g that would cause Rembrandt : 1258879

Question : 181.Following seven items a through g that would cause Rembrandt : 1258879

      181.Following are seven items a through g that would cause Rembrandt Company’s book balance of cash to differ from its bank statement balance of cash. a. A service charge imposed by the bank. b. A check listed as outstanding on the previous period’s reconciliation and still outstanding at the end of this month. c. A customer’s check returned by the bank is […]

External link to Question : 68.The company’s gross profit ratio 40%. With beginning inventory of : 1169024

Question : 68.The company’s gross profit ratio 40%. With beginning inventory of : 1169024

    68.The company’s gross profit ratio is 40%. With beginning inventory of $54,000, additional purchases of $21,000 and net sales for the quarter of $85,000, the controller estimated ending inventory values at:    A. $51,000.   B. $41,000.   C. $34,000.   D. $24,000.       69.The merchandise available for sale cost a company $90,000 and was marked to sell at a retail price of $125,000. Sales during […]

External link to Question : 168. From the adjusted trial balance for Worker Products, prepare the : 1256847

Question : 168. From the adjusted trial balance for Worker Products, prepare the : 1256847

    168. From the adjusted trial balance for Worker Products, prepare the necessary closing entries.   WORKER PRODUCTS COMPANY Adjusted Trial Balance December 31   Debit Credit Cash $    9,400   Accounts receivable 25,000   Merchandise inventory 36,000   Office supplies 900   Store equipment 75,000   Accumulated depreciation – store equipment   $   22,000 Office equipment 60,000   Accumulated depreciation – office equipment   […]

External link to Question : 171. ABC Corporation has three service departments with the following costs : 1239606

Question : 171. ABC Corporation has three service departments with the following costs : 1239606

    171. ABC Corporation has three service departments with the following costs and activity base:  Service Department Cost Activity Base for Allocation Graphics Production $200,000 # of copies Accounting $500,000 # of invoices processed Personnel Department $400,000 # of employees       ABC has three operating divisions, Micro, Macro and Super.  Their revenue, cost and activity information are as follows:    Micro Macro Super […]

External link to Question : 71. Which legislation act sets new strict rules for business especially : 1250881

Question : 71. Which legislation act sets new strict rules for business especially : 1250881

    71. Which legislation act sets new strict rules for business especially as regards accounting practices?  A. Human Rights Act of 1994 B. Reverse Discrimination Act of 1990 C. Sarbanes-Oxley Act of 2002 D. Corruption and Practices Act of 2000 The Sarbanes-Oxley Act of 2002 sets strict rules for corporate behavior and sets heavy fines and prison terms for noncompliance.     72. Which of the following is NOT a […]

External link to Question : 181.The unadjusted trial balance of Rapido Delivery entered the partial : 1236885

Question : 181.The unadjusted trial balance of Rapido Delivery entered the partial : 1236885

  181.The unadjusted trial balance of Rapido Delivery is entered on the partial work sheet below. Complete the work sheet using the following information: (a) Salaries earned by employees that are unpaid and unrecorded, $5,000. (b) An inventory of supplies showed $1,000 of unused supplies still on hand. (c) Depreciation on delivery vans, $24,000. (d) Services paid in advance by customers of $10,000 have now […]

External link to Question : 101. AcmeCompany has credit sales of $3.10 million for year 2013. : 1256919

Question : 101. AcmeCompany has credit sales of $3.10 million for year 2013. : 1256919

    101. AcmeCompany has credit sales of $3.10 million for year 2013. Accounts Receivable total $947,360 and the company estimates that 2% of accounts receivable will remain uncollectible. Historically, .9% of sales have been uncollectible. On December 31, 2013, the company’s Allowance for Doubtful Accounts has an unadjusted credit balance of $2,575. Acmeprepared a schedule of its December 31, 2013, accounts receivable by age. Based […]

External link to Question : 100.A system of accounting in which costs accumulated and then : 1258504

Question : 100.A system of accounting in which costs accumulated and then : 1258504

  100.A system of accounting in which costs are accumulated and then measured per unit at the end of a period by combining costs per equivalent unit from various departments is a:     A. General cost accounting system. B. Process costing system. C. Job order cost accounting system. D. Manufacturing cost accounting system. E. Work in Process accounting system. 101.A company that applies process costing is most frequently characterized by:    […]

External link to Question : 81. Department G had 3,600 units, 25% completed at the beginning : 1226863

Question : 81. Department G had 3,600 units, 25% completed at the beginning : 1226863

    81. Department G had 3,600 units, 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000 units were one-fifth completed at the end of the period, and the following manufacturing costs were debited to the departmental work in process account during the period:  Work in process, beginning of period $40,000 Costs added during period:     Direct materials […]

External link to Question : 51. U.S. GAAP requires that the statement of cash flows disclose : 1245951

Question : 51. U.S. GAAP requires that the statement of cash flows disclose : 1245951

    51. U.S. GAAP requires that the statement of cash flows disclose the amount of cash flows arising fromfinancing activities including  A. short-term and long-term borrowing and repaying short-term or long-term borrowing. B. issuing of common or preferred stock and reacquiring shares of outstanding common or preferred stock. C. payment of dividends to stockholders. D. all of the above. E. none of the above.   52. U.S. GAAP classifies all of […]

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