External link to Question : 204. The balances in the ledger of Good Landscape Services for : 1247092

Question : 204. The balances in the ledger of Good Landscape Services for : 1247092

  204. The balances in the ledger of Good Landscape Services for its first month of operations ending January 31, 2009.  Before adjustments, accounts are as follows:  Cash $  4,250   Capital Stock $20,375 Supplies 3,900   Dividends 3,425 Prepaid Insurance 8,400   Service Revenue 63,200 Equipment 41,750   Salary Expense 24,300 Accumulated     Rent Expense 6,000   Depreciation 9,950   Miscellaneous Expense 1,500     […]

External link to Question : Objective 20.5 1) A push-through system that manufactures finished goods for : 1217088

Question : Objective 20.5 1) A push-through system that manufactures finished goods for : 1217088

  Objective 20.5   1) A push-through system that manufactures finished goods for inventory on the basis of demand forecasts is referred to as: A) just-in-time purchasing B) materials requirements planning C) relevant total costs D) economic order quantity   2) A demand-pull system in which each component in a production line is produced immediately as needed by the next step in the production line […]

External link to Question : 92) Ernsting Corporation produces no defective units but it wants to : 1196082

Question : 92) Ernsting Corporation produces no defective units but it wants to : 1196082

  92) Ernsting Corporation produces no defective units but it wants to reduce direct materials usage per unit of CM12 in 2008. Manufacturing conversion costs in each year depend on production capacity defined in terms of CM12 units that can be produced. Selling and customer-service costs depend on the number of customers that the customer and service functions are designed to support. Ernsting Corporation has […]

External link to Question : 21) Judith Corp. has current assets worth $50,000 and current : 1222585

Question : 21) Judith Corp. has current assets worth $50,000 and current : 1222585

  21) Judith Corp. has current assets worth $50,000 and current liabilities worth $75,000. Current assets include inventory of $10,000. Calculate acid test ratio. A) 1.500 B) 0.533 C) 0.625 D) 0.667 22) Peaches Corp. has current assets worth $90,000 and current liabilities worth $75,000. Current assets include inventory of $10,000. Calculate the net working capital of the company. A) $80,000 B) $65,000 C) $15,000 […]

External link to Question : 101. Herald Company had sales of $135,000, sales discounts of $2,000, : 1225807

Question : 101. Herald Company had sales of $135,000, sales discounts of $2,000, : 1225807

  101. Herald Company had sales of $135,000, sales discounts of $2,000, and sales returns of $3,200. Herald Company’s net sales equals:  A. $5,200. B. $129,800. C. $133,000. D. $135,000. E. $140,200. 102. On October 1, Robinson Company sold merchandise in the amount of $5,800 to Rosser, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Robinson uses the perpetual inventory system. The journal entry or entries […]

External link to Question : 31.Which of the following not considered an acceptable inventory cost : 1237678

Question : 31.Which of the following not considered an acceptable inventory cost : 1237678

    31.Which of the following is not considered an acceptable inventory cost method according to GAAP?    A. First-in, first-out.   B. First-in, last-out.   C. Last-in, first-out.   D. Average cost.         32.When prices are increasing, which inventory method will produce the highest cost of goods sold?    A. FIFO.   B. LIFO.   C. Average cost.   D. Cost of goods sold will not change.         […]

External link to Question : 81. The Ward Company has provided the following information: ? Net : 1228516

Question : 81. The Ward Company has provided the following information: ? Net : 1228516

  81. The Ward Company has provided the following information: ? Net sales totaled $750,000. ? Beginning net accounts receivable was $65,000. ? Ending net accounts receivable was $85,000. What was Ward’s average collection period?  A. 73 days B. 41.8 days C. 31.6 days D. 36.5 days 82. The Rye Corporation has provided the following information: ? Total sales were $1,200,000. ? Beginning net accounts receivable was $45,000. ? Ending net […]

External link to Question : 172. The following data taken from the balance sheet at the : 1234285

Question : 172. The following data taken from the balance sheet at the : 1234285

  172. The following data are taken from the balance sheet at the end of the current year. Determine the (a) working capital, (b) current ratio, and (c) acid-test ratio. Present figures used in your computations. Round ratios to the nearest tenth.  Accounts payable $145,000 Accounts receivable 110,000 Accrued liabilities 4,000 Cash 80,000 Income tax payable 10,000 Inventory 140,000 Marketable securities 250,000 Notes payable, short-term 85,000 […]

External link to Question : 51. A company had the following partial list of account balances : 1228522

Question : 51. A company had the following partial list of account balances : 1228522

  51. A company had the following partial list of account balances at year-end:    How much is net sales revenue?  A. $91,900 B. $90,700 C. $89,900 D. $88,600 52. A company purchased goods on credit with credit terms of 3/15, n/45. Although the company does not have cash available to pay within the discount period, the manager of the company is considering borrowing money to take advantage of the discount. […]

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