External link to Question : 182. The treasurer of Systems Company has accumulated the following budget : 1239566

Question : 182. The treasurer of Systems Company has accumulated the following budget : 1239566

  182. The treasurer of Systems Company has accumulated the following budget information for the first two months of the coming year:    March April Sales. $450,000 $520,000 Manufacturing costs  290,000   350,000 Selling and administrative expenses 41,400 46,400 Capital additions  250,000 —       The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to […]

External link to Question : 87.Alton Company produces metal belts. During the current month, the : 1259555

Question : 87.Alton Company produces metal belts. During the current month, the : 1259555

    87.Alton Company produces metal belts. During the current month, the company incurred the following product costs:Raw materials $100,000Direct labor $75,000Electricity used in the Factory $25,000Factory foreperson salary $3,750Maintenance of factory machinery $2,000Alton Company’s direct product costs totaled:    A. $175,000.   B. $30,750.   C. $75,000.   D. $28,750.       88.Alton Company produces metal belts. During the current month, the company incurred the following product costs:Raw […]

External link to Question : 81. Which one of the fixed asset accounts listed below will : 1251819

Question : 81. Which one of the fixed asset accounts listed below will : 1251819

81. Which one of the fixed asset accounts listed below will not have a related contra asset account? A. Office EquipmentB. LandC. Delivery EquipmentD. Building   82. Prepaid insurance is reported on the balance sheet as a A. current assetB. fixed assetC. current liabilityD. long-term liability   83. The income statement is prepared from:  A. the adjusted trial balance.B. the income statement columns of the work sheet.C. either the adjusted trial balance or the income statement columns of the work sheet.D. both […]

External link to Question : 71. Groh and Jackson partners. Groh’s capital balance in the partnership : 1256284

Question : 71. Groh and Jackson partners. Groh’s capital balance in the partnership : 1256284

    71. Groh and Jackson are partners. Groh’s capital balance in the partnership is $64,000 and Jackson’s capital balance is $61,000. Groh and Jackson have agreed to share equally in income or loss. Groh and Jackson agree to accept Block with a 25% interest. Block will invest $35,000 in the partnership. The capital account balances after admission of Block are: A. Block $35,000, Groh $64,000, […]

External link to Question : 42.Karma’s entry required to recognize the uncollectible accounts expense for : 1254490

Question : 42.Karma’s entry required to recognize the uncollectible accounts expense for : 1254490

  42.Karma’s entry required to recognize the uncollectible accounts expense for 2013 will    A. increase total assets and retained earnings. B. decrease total assets and retained earnings. C. decrease total assets and increase net income. D. increase total assets and decrease net income. 43.The net realizable value of receivables appearing on Karma’s 2013 balance sheet will amount to:    A. $55,350. B. $55,450. C. $57,900. D. $56,800. 44.Which of the following reflects the effect […]

External link to Question : Multiple Choice Questions 28.Which of the following statements NOT correct? A.The description : 1220536

Question : Multiple Choice Questions 28.Which of the following statements NOT correct? A.The description : 1220536

  Multiple Choice Questions 28.Which of the following statements is NOT correct?   A.The description of a journal entry should include a reference to the source of the information contained in the entry. B.If goods are purchased on credit, the supplier’s invoice number is used as the source document for the transaction. C.The credit portion of a general journal entry is always recorded first. D.A firm […]

External link to Question : 31.Which stage in a work-unit activity analysis focuses the product : 1243208

Question : 31.Which stage in a work-unit activity analysis focuses the product : 1243208

    31.Which stage in a work-unit activity analysis focuses on the product produced or service provided?    A.Raw inputs   B.Equipment   C.Output   D.Activity   E.Human resource input     32.The productivity measurement and evaluation system (ProMES) focuses on identifying _____ and specifying performance level required for different levels of effectiveness.    A.work-unit finances   B.work-unit processes   C.work-unit inputs   D.work-unit relationships   E.work-unit […]

External link to Question : 91. A company purchased $7,500 worth of merchandise. Transportation costs were : 1256831

Question : 91. A company purchased $7,500 worth of merchandise. Transportation costs were : 1256831

    91. A company purchased $7,500 worth of merchandise. Transportation costs were an additional $80. The company later returned $900 worth of merchandise and paid the invoice within the 3% cash discount period. The total amount paid for this merchandise is:  A. $6,479.60 B. $6,482.00 C. $7,275.00 D. $7,355.00 E. $6,680.00       92. A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later […]

External link to Question : 53.Refer to the information above. Assuming John Boyd wants to : 1259663

Question : 53.Refer to the information above. Assuming John Boyd wants to : 1259663

    53.Refer to the information above. Assuming John Boyd wants to earn a pretax profit of $10,000 on this special order, what price must it charge Joan Reid?    A. $69 per unit.   B. $83 per unit.   C. $95 per unit.   D. Some other amount.       JCN Industries normally produces and sells 5,000 keyboards for personal computers each month. Variable manufacturing costs amount to […]

External link to Question : Multiple Choice Questions 27.One purpose of closing entries to give zero : 1169380

Question : Multiple Choice Questions 27.One purpose of closing entries to give zero : 1169380

  Multiple Choice Questions  27.One purpose of closing entries is to give zero balances to    A. asset and liability accounts.   B. liability and capital accounts.   C. revenue and expense accounts.   D. expense and capital accounts.         28.Use the following account balances from the adjusted trial balance of ABCConsulting  Select the correct closing entry that ABCConsulting would make to close their revenue account(s) at the […]

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