External link to Question : 117.              Which of the following not considered to be a : 1255369

Question : 117.              Which of the following not considered to be a : 1255369

  117.              Which of the following is not considered to be a major user group by the GASB? A)Citizen groups. B)Investors and creditors. C)Legislative and oversight officials. D)Government executive branch officials. 118.              The highest bond rating assigned by Moody’s is: A)A+ B)A C)AAA D)AAA+ 119.              Which of the following items, helpful for analysis, could be found in the statistical section of the CAFR? A)Assessed and […]

External link to Question : Objective 8.6 1) The fixed overhead cost variance can be further : 1217264

Question : Objective 8.6 1) The fixed overhead cost variance can be further : 1217264

  Objective 8.6   1) The fixed overhead cost variance can be further subdivided into the: A) price variance and the efficiency variance B) spending variance and flexible-budget variance C) production-volume variance and the efficiency variance D) flexible-budget variance and the production-volume variance Answer the following questions using the information below:   Jenny’s Corporation manufactured 25,000 grooming kits for horses during March. The fixed-overhead cost-allocation […]

External link to Question : 153.The sale of treasury stock cannot result in a. the crediting of : 1244167

Question : 153.The sale of treasury stock cannot result in a. the crediting of : 1244167

153.The sale of treasury stock cannot result in   a. the crediting of Paid-in Capital, Treasury Stock. b. an increase in Retained Earnings. c. the debiting of Paid-in Capital, Treasury Stock. d. an increase in total stockholders’ equity.       154.A company purchases 400 shares of its $50 par value common stock at $55 per share. It then reissues 60 shares at $58 per […]

External link to Question : 240. Data for Madison Realty as follows: Total assets at December 31, : 1256344

Question : 240. Data for Madison Realty as follows: Total assets at December 31, : 1256344

  240. Data for Madison Realty are as follows:   Total assets at December 31, 2013 $100,000 Total liabilities at December 31, 2013 35,000 Total revenues 2014 79,000 Total expenses for 2014 47,000 Common stock at December 31, 2013 20,000 Madison Realty paid dividends of $30,000 during 2014. From the above data, prepare Madison Realty’s statement of retained earnings for the year ended December 31, 2014. […]

External link to Question : 76. The charter of a corporation provides for the issuance of : 1226703

Question : 76. The charter of a corporation provides for the issuance of : 1226703

    76. The charter of a corporation provides for the issuance of 100,000 shares of common stock.  Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired.  What is the number of shares outstanding?  A. 40,000 B. 70,000 C. 50,000 D. 60,000   77. Par value  A. is the monetary value assigned per share in the corporate charter. B. represents what a share of stock is worth. C. represents the original […]

External link to Question : 121. Bonds Payable has a balance of $1,000,000 and Discount Bonds : 1251405

Question : 121. Bonds Payable has a balance of $1,000,000 and Discount Bonds : 1251405

  121. Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $15,000.  If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption?  A. $10,000 loss B. $25,000 loss C. $25,000 gain D. $10,000 gain 122. Bonds Payable has a balance of $900,000 and Premium on Bonds Payable has a balance of $10,000.  If the issuing […]

External link to Question : Objective 16.1 1) What type of cost the result of an : 1211861

Question : Objective 16.1 1) What type of cost the result of an : 1211861

    Objective 16.1   1) What type of cost is the result of an event that results in more than one product or service simultaneously? A) byproduct cost B) joint cost C) main cost D) separable cost   2) Which of the following statements best define splitoff point in joint costing? A) It is the point at which managers decide to discontinue one or […]

External link to Question : 6) A company decided to replace an old machine with : 1216918

Question : 6) A company decided to replace an old machine with : 1216918

  6) A company decided to replace an old machine with a new machine.  Which of the following is considered a relevant cost? A) the book value of the old equipment B) depreciation expense on the old equipment C) the loss on the disposal of the old equipment D) the current disposal price of the old equipment   7) What role does a trade-in allowance […]

External link to Question : 71. The carrying value of a long-term note payable: A. Is computed as : 1225324

Question : 71. The carrying value of a long-term note payable: A. Is computed as : 1225324

  71. The carrying value of a long-term note payable:  A. Is computed as the future value of all remaining future payments, using the market rate of interest. B. Is the face value of the long-term note less the total of all future interest payments. C. Is computed as the present value of all remaining future payments, discounted using the market rate of interest at the time of issuance. […]

External link to Question : 121. Given the following information, determine the cost of goods sold : 1256863

Question : 121. Given the following information, determine the cost of goods sold : 1256863

    121. Given the following information, determine the cost of goods sold at December 31 using the LIFO periodic inventory method: December 2: 5 units were purchased at $7 per unit. December 9: 10 units were purchased at $9.40 per unit. December 11:  12 units were sold at $35 per unit. December 15:  20 units were purchased at $10.15 per unit. December 22: 18 units […]

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