51. Peckham Corporation received a 9-month, 9% note for $100,000 from its agent on July 1, 2012. The note is due on March 31, 2013. If Peckham’s accounting period ends on December 31, 2012, how much interest revenue should Peckham recognize during 2012 and 2013? 2012 2013 A. $2,250 $4,500 B. $4,500 $2,250 C. $9,000 $ 0 D. $4,500 $4,500 52. Federer Corporation had $12,400 of supplies on hand […]
51.The purchasing agent of Superb Service Co. wants to know the dollar amount of inventory purchased on account during the year from a particular supplier. This information can be found most easily in Superb Service’s: A.Inventory subsidiary ledger. B.Accounts payable controlling account. C.Inventory controlling account. D.Accounts payable subsidiary ledger. 52.Sutton Supplies reports net sales of $3,750,000, […]
41.When an adjusting entry that recognizes accrued interest revenue is recorded, a.assets increase and liabilities increase. b.shareholders’ equity increases and liabilities decrease. c.assets decrease and liabilities decrease. d.shareholders’ equity and assets increase. 42.All of the following statements are true except: a.All economic events recorded in financial statementsmust be relevant. b.All economic events recorded in financial statements must affect liabilities. c.All economic events recorded in […]
196. The following adjusted trial balance is the result of the adjustments made at the end of the month of July for Ladonna Douglas Company. Utilize these adjusted values to prepare the closing entries for Ladonna Douglas Company. Cash 34,750.00 Accounts Receivable 9,750.00 Office Supplies 2,525.00 Store Supplies 4,785.00 Machinery 20,750.00 Accumulated Depreciation 2,150.00 Accounts Payable 14,300.00 Notes […]
41. The statement of cash flows classifies cash used for interest expense as A. an operating activity B. an investing activity. C. a financing activity. D. an exchange activity. E. a funds usage activity. 42. During Year 4, Adams Company had a net increase in accounts payable for purchases on account. Accounting classifies this source of cash in the _____ section of the statement of cash flows. A. Investing B. Operations […]
21) Which of the following is true of introductory questions? A) These can be used to norm the interviewee. B) These are asked in an informal interview but not in a formal interview. C) These are generally confrontational. D) These cannot be used to build rapport. 22) Which of the following type of questions are asked in an interview with the purpose of summarizing […]
151. Based on the following information, calculate the dividend yield on common stock Market price per share $40.00 Earnings per share 4.00 Dividends per share 1.00 Investor’s cost per share 30.00 A. 0.075B. 0.025C. 0.133D. 0.033 152. The following information is available for Derby Co.: 2006 Dividends per share of common stock $ 0.80 Market price per share of common stock 20.00 A. The dividend yield is […]
91. A company sold $12,000 worth of trampolines with an extended warranty. It estimates that 2% of these sales will result in warranty work. The company should: A. Consider the warranty expense a remote liability since the rate is only 2%.B. Recognize warranty expense at the time the warranty work is performed.C. Recognize warranty expense and liability in the year of the sale.D. Consider the warranty expense a contingent […]
61.In a store with several sales departments, departmentalized accounts would be used for A. sales only. B. sales, purchases, and merchandise inventory. C. sales and other income items only. D. all expense accounts. 62.Indirect expenses of the human resource department within a company might include: A. wages of the human resource manager. B. benefits of the department secretary. C. rent expense. […]
11) Tom wants to borrow $15,000 in order to expand Tom’s Wear. If he repays the money in forty equal monthly installments, he can get an interest rate of 6%. What would be the amount of each installment payment? A) $375.00 B) $397.50 C) $996.93 D) $414.68 12) Tom wants to borrow $15,000 in order to expand Tom’s Wear. If he repays the […]
Develop a Work Breakdown Structure (WBS) and project schedule in a Gantt format for the E-Mail Upgrade Project described in the scenario.The WBS and resultant schedule should contain the following high-level activities:
Each of the six WBS elements should be decomposed into two or more activities; additionally, three of these six elements should be decomposed into a third level consisting of at least two more activities. Thus, there should be six high level WBS elements, twelve or more second level activities (two per the six elements), and six third level activities. Use the format described above to define the activities (action verb followed by subject, such as Deploy E-mail System).
The Gantt chart should be developed based on the WBS (all activities should be detailed on the Gantt chart). The Gantt chart should reflect the proper dependencies of each of the activities (for example, you can’t have "Deploy E-mail System" before "Evaluate User Requirements"). For activity duration, provide a reasonable estimate of the time you expect each activity to take; while students are not expected to provide accurate durations, durations should be reasonably defensible and logical. For formatting ease, high level activities should be left justified while second and third level activities should be indented below their parent activities.
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