External link to Question : 127. A company expects its three departments to yield the : 1256761

Question : 127. A company expects its three departments to yield the : 1256761

  127. A company expects its three departments to yield the following income for next year:    Dept. O Dept. K Dept. W Sales $92,000 $15,000 $87,000 Expenses       Avoidable 73,000 1,000 36,000 Unavoidable 2,000 8,000 37,000 Total expenses 75,000 9,000 73,000 Net income (loss) $17,000 $6,000 $14,000 Required:  Compute the following independent calculations:a. The effect on total company income if Dept. O […]

External link to Question : 81. ABC Company has incurred a period income tax expense of : 1234212

Question : 81. ABC Company has incurred a period income tax expense of : 1234212

  81. ABC Company has incurred a period income tax expense of $500,000. The tax accountants inform the financial accountants that 60% of this value will be paid on March 15th, 2 1/2 months away, while the balance will be paid in 14 1/2 months. The journal entry to recognize these obligations is:  A. Dec 31   Income Tax Expense                            300,000               Income Tax Payable                             200,000                       Cash                                                              […]

External link to Question : Multiple Choice Questions 61. Another name for temporary accounts is: A. Real accounts. B. Contra accounts. C. Accrued : 1225802

Question : Multiple Choice Questions 61. Another name for temporary accounts is: A. Real accounts. B. Contra accounts. C. Accrued : 1225802

  Multiple Choice Questions 61. Another name for temporary accounts is:  A. Real accounts. B. Contra accounts. C. Accrued accounts. D. Balance column accounts. E. Nominal accounts. 62. When closing entries are made:  A. All ledger accounts are closed to start the new accounting period. B. All temporary accounts are closed but not the permanent accounts. C. All real accounts are closed but not the nominal accounts. D. All permanent accounts are closed but not the […]

External link to Question : 41.Howard Lumber Company mistakenly classified a product cost as an : 1257007

Question : 41.Howard Lumber Company mistakenly classified a product cost as an : 1257007

    41.Howard Lumber Company mistakenly classified a product cost as an expense that totaled $20,000. The company produced 2,000 units of product and sold 1,000 of them during the year. Management is paid a bonus equal to 2% of net income. In the year in which the mistake was made:    A. product costs were overstated.   B. management bonuses were underpaid.   C. the company’s income statement […]

External link to Question : 11) A company signs a note payable for $3,500 at : 1232350

Question : 11) A company signs a note payable for $3,500 at : 1232350

  11) A company signs a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the company owe using a 360-day year? A) $354.38 B) $315.00 C) $ 39.38 D) $ 38.84 12) L & L Construction had sales on account of $28,500 which were subject to state sales tax of 9%. The entry to record the […]

External link to Question : 69.Refer to the information above. The amount of direct materials : 1259585

Question : 69.Refer to the information above. The amount of direct materials : 1259585

    69.Refer to the information above. The amount of direct materials cost charged to completed jobs during March was:    A. $20,000.   B. $50,000.   C. $30,000.   D. Some other amount.       70.Refer to the information above. The predetermined overhead application rate at Capri Boat is what percentage of direct labor costs?    A. 38%.   B. 62%.   C. 260%.   D. 580%.       71.Refer to the […]

External link to Question : 21.Which of the following ratios would be of primary importance : 1253633

Question : 21.Which of the following ratios would be of primary importance : 1253633

  21.Which of the following ratios would be of primary importance to a creditor in deciding to extend long-term credit? a. Current ratio b. Debt/equity ratio c. Inventory turnover d. Earnings per share 22.Which of the following ratios would be of primary importance to a manager in evaluating the success of a computerized collection process? a. Accounts receivable turnover b. Account payable turnover c. Quick […]

External link to Question : 86.A company had net cash flows from operations of $341,000, : 1236502

Question : 86.A company had net cash flows from operations of $341,000, : 1236502

  86.A company had net cash flows from operations of $341,000, net income of $286,000 and average total assets of $1,850,000. The cash flow on total assets ratio equals:    A.83.9% B.542.5% C.15.5% D.18.4% E.646.9% 87.A company had net cash flows from operations of $120,000, cash flows from financing of $330,000, total cash flows of $500,000, and average total assets of $2,500,000. The cash flow on […]

External link to Question : 41. If trainees’ reading levels did not match the level needed : 1251036

Question : 41. If trainees’ reading levels did not match the level needed : 1251036

    41. If trainees’ reading levels did not match the level needed for the training materials, which one of the following options would be least cost-effective and practical?  A. Use instructional techniques such as video or on-the-job training, which involve learning by watching and practicing rather than by reading. B. Redesign the job to accommodate the employees’ reading levels. C. Identify employees who lack the necessary reading skills […]

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