111.A company had $43 missing from petty cash that was not accounted for by petty cash receipts. The correct procedure is to: A.Debit Cash Over and Short for $43. B.Credit Cash Over and Short for $43. C.Debit Petty Cash for $43. D.Credit Petty Cash for $43. E.Credit Cash for $43. 112.On a bank reconciliation, an unrecorded debit memorandum for printing checks is: A.Noted […]
41. A firm reported net credit sales of $450,000 during the year and has a balance of $40,000 in its Accounts Receivable account at year-end. Prior to adjustments, Allowance for Doubtful Accounts has a debit balance of $200. The firm estimates its losses from uncollectible accounts to be one-half of 1 percent of net credit sales. The entry to record the estimated losses from […]
85.A company uses the following standard costs to produce a single unit of output. Direct materials6 pounds at $0.90 per pound=$5.40 Direct labor0.5 hour at $12.00 per hour=$6.00 Manufacturing overhead0.5 hour at $4.80 per hour=$2.40 During the latest month, the company purchased and used 58,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor […]
111. Department W had 2,400 units, one-third completed at the beginning of the period, 14,000 units were transferred to Department X from Department W during the period, and 1,800 units were one-half completed at the end of the period. Assume the completion ratios apply to direct materials and conversion costs. What is the equivalent units of production used to compute unit conversion cost on […]
Multiple Choice Questions 31.Which of the following is the primary objective of an income statement? A. Providing managers with detailed information about where the enterprise stands at a specific date. B. Providing users outside the business organization with information about the company’s financial position and operating results. C. Reporting to the Internal Revenue Service the company’s taxable income. D. Indicating to investors in a particular […]
41) Prepaid rent shows a beginning balance of $3,600 and an ending balance of $2,900. The income statement for the current period reports rent expense of $3,200. What was the amount of rent purchased during the year? A) $6,100 B) $6,800 C) $2,500 D) $400 42) Unearned revenue shows a beginning balance of $4,700 and an ending balance of $3,400. The adjusting entry shows […]
81. On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be A. deducted from net income in converting the net income reported on the income statement to cash flows from operating activitiesB. added to net income in converting the net income reported on the income statement to cash flows from operating activitiesC. added to dividends declared […]
71. The accounts receivable turnover ratio equals A. profit margin divided by average accounts receivable at the end of the period. B. gross margin divided by average accounts receivable at the end of the period. C. sales revenue divided by ending accounts receivable at the end of the period. D. sales revenue divided by average accounts receivable during the period. E. gross margin divided by average accounts receivable during […]
120.Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry to record receipt of these dividends is: A. Debit Cash, $9,000; credit Long-Term Investments, $9,000. B. Debt Long-Term Investment, $9,000; credit Cash, $9000. C. Debit Cash, $9,000; credit Interest Revenue, $9,000. D. Debit Unrealized Gain-Equity, $9,000; credit Cash, $9,000. E. Debit Cash, $9,000; credit Dividend Revenue, $9,000. 121.On January 4, […]
141. The Dayton Corporation began the current year with a retained earnings balance of $25,000. During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $3,000 on equipment. Also, during the current year, the company earned net income of $12,000 and declared cash dividends of $5,000. Compute the year end retained earnings […]
To prepare:
Record and submit a 2- to 3-minute Kaltura video, in which you speak directly to your chosen social worker. In your video:
Include a transcript and/or edit closed captioning on your video to ensure that your presentation is accessible.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more