External link to Question : 48.Which financial statement prepared as of a specific date? A. The balance : 1259418

Question : 48.Which financial statement prepared as of a specific date? A. The balance : 1259418

    48.Which financial statement is prepared as of a specific date?    A. The balance sheet   B. The income statement   C. The statement of cash flows   D. The balance sheet, income statement, and statement of cash flows are all for a period of time rather than at a specific date.         49.In comparison with a financial statement prepared in conformity with generally accepted […]

External link to Question : 61. Ahi Corporation purchased merchandise account from Yudder Inc. December 12, : 1224930

Question : 61. Ahi Corporation purchased merchandise account from Yudder Inc. December 12, : 1224930

    61. Ahi Corporation purchased merchandise on account from Yudder Inc. on December 12, 2012. On December 13, 2012, Ahi returned damaged merchandise to Yudder and was granted an adjustment on its account. Ahi uses the periodic inventory system. What effect does the merchandise return have on Ahi’s accounting equation? A. Assets and equity decrease.B. Assets and liabilities decrease.C. Liabilities decrease and equity increases.D. Liabilities and equity decrease.   62. Shelton […]

External link to Question : 61) The president’s salary, interest corporate debt and corporate donations all : 1196120

Question : 61) The president’s salary, interest corporate debt and corporate donations all : 1196120

  61) The president’s salary, interest on corporate debt and corporate donations are all examples of what type of costs? 61) ______ A) distribution channel costs B) sales costs C) corporate sustaining costs D) customer support costs E) customer specific costs 62) Customer specific costs are costs that 62) ______ A) would not include selling-related costs. B) are not traceable to individual customers. C) would […]

External link to Question : 111. For the manufacturing business, inventory which in the process of : 1251537

Question : 111. For the manufacturing business, inventory which in the process of : 1251537

    111. For the manufacturing business, inventory which is in the process of being manufactured is referred to as:  A. supplies inventory B. work in process inventory C. finished goods inventory D. direct materials inventory   112. The proper journal entry to record the purchase of $25,000 of raw materials on account would be:  A. Jan 2    Raw Material Inventory                       25,000                     Accounts Receivable                                  25,000 B. Jan 2    Raw Material Inventory                       25,000 […]

External link to Question : 81. If the firm measures an asset at acquisition cost the : 1245873

Question : 81. If the firm measures an asset at acquisition cost the : 1245873

    81. If the firm measures an asset at acquisition cost on the balance sheet, it measures expenses based on the _____ of the asset consumed.  A. fair market value B. acquisition cost C. current value D. liquidation value E. replacement value   82. Which of the following is/are true?  A. Interpreting the income statement involves studying the relations among revenues, expenses, and net income both over time and across firms. B. Comparisons […]

External link to Question : 51. Cumberland, Inc. has applied to its bank for a loan. : 1229748

Question : 51. Cumberland, Inc. has applied to its bank for a loan. : 1229748

    51. Cumberland, Inc. has applied to its bank for a loan. The bank asks Cumberland’s controller about the total amount of the company’s accounts receivable. Assuming that all accounting records are up-to-date, the controller can best answer this question by referring to:  A. The Income Statement. B. The Accounts Receivable controlling account. C. The Accounts Receivable subsidiary ledger. D. Last year’s Balance Sheet.     52. In a perpetual […]

External link to Question : 200.Use the following financial statements and additional information to (1) : 1258408

Question : 200.Use the following financial statements and additional information to (1) : 1258408

  200.Use the following financial statements and additional information to (1) prepare a statement of cash flows for the year ended December 31, 2015 using the indirect method, and (2) compute the company’s cash flow on total assets ratio for 2015.  Derby CompanyBalance SheetsAt December 31 20152014 Assets: Cash$85,600$65,200 Accounts receivable, net72,85056,750 Merchandise inventory157,750144,850 Prepaid expenses6,08012,680 Equipment280,600245,600 Accumulated depreciation-Equipment (80,600) (97,600) Total assets$522,280$427,480 Liabilities: Accounts payable$52,850$45,450 Income […]

External link to Question : 81. All but one of the following true of the glass : 1251052

Question : 81. All but one of the following true of the glass : 1251052

    81. All but one of the following are true of the glass ceiling. Name the exception.  A. The barrier may be due to a lack of access to training programs, developmental job experiences, and developmental relationships, such as mentoring. B. Research has found significant gender differences in access to job experiences involving transitions or creating change. C. The barrier may be due to stereotypes that hinder the […]

External link to Question : 41. Roosevelt Company had beginning finished goods inventory of $18,000. During : 1208052

Question : 41. Roosevelt Company had beginning finished goods inventory of $18,000. During : 1208052

  41. Roosevelt Company had beginning finished goods inventory of $18,000. During the period, the company produced goods that cost $75,000. If the ending balance in finished goods was $12,000, the amount of cost of goods sold was:  A. $69,000. B. $75,000. C. $81,000. D. None of the other answers are correct. 42. All of the following are reasons to assign estimated overhead to inventory except:  A. Managers need cost information as […]

External link to Question : Garber, Inc. had the following amounts its 12/31/13 financial statements. 93.The : 1254353

Question : Garber, Inc. had the following amounts its 12/31/13 financial statements. 93.The : 1254353

  Garber, Inc. had the following amounts on its 12/31/13 financial statements.     93.The return on assets ratio for Garber is:    A. 5%. B. 10%. C. 20%. D. 50%. 94.The return on equity ratio for Garber is:    A. 5%. B. 10%. C. 20%. D. 50%. 95.The debt-to-assets ratio for Garber is:    A. 5%. B. 10%. C. 45%. D. 50%. 96.Hayes, Inc. had the following balances on its 12/31/13 balance sheet.  If Hayes were to purchase land for $40,000 […]

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