71. A company buys a machine for $60,000 that has an expected life of 9 years and no salvage value. The company anticipates a yearly net income of $2,850 after taxes of 30%, with the cash flows to be received evenly throughout each year. What is the accounting rate of return? A. 2.85%. B. 4.75%. C. 6.65%. D. 9.50%. E. 42.75%. 72. Monterey Corporation is considering the purchase of a machine […]
112. In calculating cash flows from operating activities using the indirect method, a gain on the sale of equipment is A. added to net income.B. deducted from net income.C. ignored because it does not affect cash.D. reported separately as a non-cash investing and financing activity 113. Rogers Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 […]
102.The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as: A.Adjusted overhead. B.Estimated overhead. C.Predetermined overhead. D.Underapplied overhead. E.Overapplied overhead. 103.The amount by which overhead incurred during a period exceeds the overhead applied to jobs is: A.Balanced overhead. B.Predetermined overhead. C.Actual overhead. D.Underapplied overhead. E.Overapplied overhead. 104.If a company applies overhead to […]
174. A firm produces its products by a continuous process involving three production departments, 1 through 3. Present entries to record the following selected transactions related to production during August: (a) Materials purchased on account, $120,000. (b) Material requisitioned for use in Department 1, $125,700, of which $124,200 entered directly into the product. (c) Labor cost incurred in Department 1, $195,400, of which $174,000 was […]
111. The following totals for the month of June were taken from the payroll register of ABC Company: Salaries expense$13,000 Social security and Medicare Taxes withheld975 Income Taxes withheld2,600 Retirement Savings500 Salaries subject to federal and state unemployment taxes of 6.2 percent4,000 The entry to record the accrual of employer’s payroll taxes would include a A. debit to Payroll Taxes Expense for $1,223B. credit to Social Security and […]
101. Which of the following is not true regarding a reverse stock split? A. Firms reduce the number of outstanding shares by increasing the par value of the stock. B. Firms reduce the number of outstanding shares by canceling outstanding shares. C. A reverse stock split usually increases the market value per share in inverse proportion to the reverse split. D. Managers and governing boards might use reverse […]
21) Inventory information for Missoula Merchandising, Inc. is provided below. Sales for the period were 2,800 units for $8 each. The company uses a weighted average periodic inventory system. Date Number of Units Unit Cost Total Cost January 1 Beginning inventory 1,000 $2.20 $2,200 January Purchase 600 $3.50 $2,100 February Purchase 800 $4.00 $3,200 March Purchase 1,200 $4.25 $5,100 […]
36) The direct method allocates each support department’s costs to operating departments but NOT to other support departments. 37) The step-down method allocates support department costs to other support departments and to operating departments in a sequential manner. 38) The reciprocal method of support department cost allocation is the most precise method and therefore is used most often. 39) Gotham University […]
31) When preparing the financial statements: A) assets, liabilities, and revenues are reported on the balance sheet. B) the balance sheet reports the beginning balance of retained earnings. C) assets, liabilities, and stockholders’ equity are reported on the balance sheet. D) assets, liabilities, and dividends are reported on the balance sheet. 32) Lucy Morton opened an engineering office and titled the business Engineering Enterprises […]
53.An example of a financing activity is A. the sale of merchandise for cash. B. the issue of stock for cash. C. the sale of used equipment for cash. D. the purchase of a building. 54.A corporation received $50,000 in cash when it sold a building and paid $90,000 in cash when it purchased some new machinery. As a result, […]
Use this Word document for this lab. In this lab you will use Stuve diagrams (from radiosonde soundings) and a surface weather map to forecast the likelihood of severe thunderstorms and tornadoes in the United States for a specific day.
You will be filling out information for several Stuve diagrams which are provided below as well. The values of CAPE, LI, PW, and HEL are all provided in the column to the right of the Stuve diagram. For "Parcel Description" and "Dewpoint Description" briefly describe the shape of these two lines on the Stuve diagram.
STUVES:
You can use this map of the United States as reference for the locations of each station identifier in each Stuve daigram.
Use this surface weather map to see if there are any fronts or boundaries on this day.
SURFACE MAP:
Use these maps to verify your forecasts.
VERIFICATION:
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