External link to Question : 91. Logan Electronics Corporation manufactures and assembles electronic motor drives for : 1247004

Question : 91. Logan Electronics Corporation manufactures and assembles electronic motor drives for : 1247004

    91. Logan Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer’s just-in-time cell. For the year planned labor and overhead was $76,800,000; materials costs, $25 per unit. Planned production included 9,600 hours to produce 76,800 […]

External link to Question : 76. The payback period for this proposed investment is: A. 4.5 years.B. Twelve years.C. Six : 1229662

Question : 76. The payback period for this proposed investment is: A. 4.5 years.B. Twelve years.C. Six : 1229662

    76. The payback period for this proposed investment is:  A. 4.5 years. B. Twelve years. C. Six years. D. Two years.     77. The return on average investment for this proposed investment is:  A. 8 1/3%. B. 50%. C. 25%. D. 11.1%.     78. Compute the net present value of this proposed investment, using a discount rate of 12%. (An annuity table shows that the present value of $1 received annually for […]

External link to Question : Multiple Choice Questions 31. Which of the following statements correct? A. The accountant obtains : 1197559

Question : Multiple Choice Questions 31. Which of the following statements correct? A. The accountant obtains : 1197559

  Multiple Choice Questions   31. Which of the following statements is correct?  A. The accountant obtains information about wages subject to payroll taxes from the payroll register. B. Most commercial banks are authorized to accept the employee’s tax deposits for federal income taxes withheld and the employer’s and employees’ shares of social security taxes. C. Payroll tax deposits can be made electronically or using a Federal Tax Deposit […]

External link to Question : Learning Objective 11-3 1) How can you tell if a company : 1253086

Question : Learning Objective 11-3 1) How can you tell if a company : 1253086

  Learning Objective 11-3   1) How can you tell if a company is taking big bath charges this year? A) Compare this year’s accounts receivable with last year’s. If this year’s accounts receivable are much bigger, there must have been many charges. B) Compare this year’s income statement with several previous years’, looking for unusual expenses or write-offs. C) Compare this year’s cash flow […]

External link to Question : 11.Orlando Company paid $100 cash to purchase production supplies. How : 1257039

Question : 11.Orlando Company paid $100 cash to purchase production supplies. How : 1257039

    11.Orlando Company paid $100 cash to purchase production supplies. How does this transaction affect the financial statements?      A.      B.      C.      D.        12.Purchasing production supplies for cash is a(n):    A. asset source transaction.   B. asset exchange transaction.   C. asset use transaction.   D. claims exchange transaction.     13.Paying for factory utilities is a(n):    A. asset exchange transaction. […]

External link to Question : 171. U.S. GAAP and IFRS require firms to account for correction : 1230398

Question : 171. U.S. GAAP and IFRS require firms to account for correction : 1230398

    171. U.S. GAAP and IFRS require firms to account for correction of errors, if material, by   A. restating net income of prior periods and adjusting the beginning balance in Retained Earnings for the current period B. restating net income of prior periods and adjusting the ending balance in Retained Earnings for the current period C. restating net income of the current period and adjusting the beginning […]

External link to Question : Multiple Choice Questions 24.If a company uses the periodic inventory system, : 1168937

Question : Multiple Choice Questions 24.If a company uses the periodic inventory system, : 1168937

  Multiple Choice Questions  24.If a company uses the periodic inventory system, purchases of merchandise are    A. debited to Merchandise Inventory.   B. credited to Merchandise Inventory.   C. debited to Purchases.   D. credited to Sales.         25.On the financial statements prepared at the end of an accounting period, the merchandise inventory is shown as    A. a liability on the balance sheet.   B. revenue on the […]

External link to Question : 95. Spiller Services Corporation was organized January 1, Year 8. The : 1230496

Question : 95. Spiller Services Corporation was organized January 1, Year 8. The : 1230496

  95. Spiller Services Corporation was organized on January 1, Year 8. The unadjusted trial balance on December 31, Year 8 after recording transactions that occurred during Year 8 is as follows.  Spiller Services CorporationUnadjusted Trial BalanceDecember 31, Year 8   Debit Credit Cash $125,000   Fees Receivable 112,000   Notes Receivable 115,000   Office Supplies Inventory 11,800   Prepaid Insurance 12,200   Furniture and Equipment […]

External link to Question : 81. Which of the following statements regarding investment centers incorrect? A. A manager : 1208299

Question : 81. Which of the following statements regarding investment centers incorrect? A. A manager : 1208299

  81. Which of the following statements regarding investment centers is incorrect?  A. A manager of an investment center is responsible for revenues, expenses, and investment capital. B. Investment centers are commonly found at the lower levels of an organization chart. C. A manager of an investment center should be accountable for assets, liabilities, earnings. D. Return on investment and residual income are tools used to assess managers of an […]

External link to Question : 94. Designs, Inc. had 4,000 shares of $7, $100 par preferred : 1229398

Question : 94. Designs, Inc. had 4,000 shares of $7, $100 par preferred : 1229398

    94. Designs, Inc. had 4,000 shares of $7, $100 par preferred stock and 50,000 shares of common stock outstanding throughout 2009. During 2009, Designs declared a dividend of $7 per share on its common stock. Compute earnings per share for 2009 if Designs’ income statement showed net income of $630,000.  A. $7.00 per share. B. $6.00 per share. C. $12.04 per share. D. $12.60 per share.     […]

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