41.Accumulated Depreciation is: A. An asset account. B. A revenue account. C. A contra-asset account. D. An expense account. 42.Which of the following statements regarding depreciation is correct? A. Depreciation is an exact calculation of the decline in value of an asset. B. Depreciation is only an estimate of the decline in value of an asset. C. Depreciation is only recorded […]
111. A company had $43 missing from petty cash that was not accounted for by petty cash receipts. The correct procedure is to: A. Debit Cash Over and Short for $43. B. Credit Cash Over and Short for $43. C. Debit Petty Cash for $43. D. Credit Petty Cash for $43. E. Credit Cash for $43. 112. On a bank reconciliation, an unrecorded debit memorandum for printing checks is: […]
51) ______ A) $179,000 favourable B) $241,000 unfavourable C) $420,000 favourable D) $179,000 unfavourable E) $420,000 unfavourable 52) What is the productivity component of change in operating income? 52) ______ A) $45,500 favourable B) $420,000 unfavourable C) $420,000 favourable D) $179,000 favourable E) $241,000 unfavourable Use the information below to answer the following question(s). Following a strategy of product differentiation, Barry Company makes […]
36.How will a company’s contribution margin be affected by an investment in equipment that increases fixed costs in order to achieve a reduction in direct labor cost? A. Contribution margin will increase. B. Contribution margin will fall. C. Contribution margin will either increase or decrease depending on the relative magnitudes of the changes in fixed and variable costs. D. Contribution margin will remain the […]
51. S. Reising contributed $48,000 in cash plus equipment valued at $73,000 to the Reising Construction Partnership. The journal entry to record the transaction for the partnership is: A. Cash……………………………………………………………. 48,000 Equipment……………………………………………………. 73,000 S. Reising, Capital…………………………………… 121,000 B. Cash……………………………………………………………. 48,000 Equipment……………………………………………………. 73,000 Reising Construction Partnership, Capital….. 121,000 C. Reising Construction Partnership……………………. 121,000 S. Reising, Capital…………………………………… 121,000 D. […]
56.Beckett Co. sold merchandise on account for $10,600, terms 2/10, n/30. Freight charges of $250 were prepaid by the seller and added to the invoice. The customer returned $800 of merchandise before making the payment then paid the invoice within the discount period. What is the amount Beckett Co. received? A. $9,854 B. $9,604 C. $9,849 D. $9,833 57.Merchandise is sold […]
71. Ortiz Company, is a manufacturing firm that uses a job-order cost system to determine the costs of its products. During 2012, Ortiz paid $2,100 to production employees who worked on job #132. The entry to record these wages would include an increase to: A. Cost of goods sold. B. Salary expense. C. Finished goods inventory. D. Work in process inventory. 72. Ortiz Company, is a manufacturing firm that uses […]
141. The Designer Company issued 10-year bonds on January 1, 2009. The 6% bonds have a face value of $800,000 and pay interest every January 1 and July 1. The bonds were sold for $690,960 based on the market interest rate of 8%. Designer uses the effective-interest method to amortize bond discounts and premiums. On July 1, 2009, Designer should record interest expense (round […]
121. The journal entry to close the Fees Earned, $100, and Rent Revenue, $25, accounts on December 31st during the closing process would be: A. Dec 31 Fees Earned 100 Rent Revenue 25 Income Summary 125B. Dec 31 Income Summary 125 Fees Earned 100 Rent Revenue 25C. Dec 31 Revenues 125 Income Summary 125D. Dec 31 Income Summary 125 Revenues 125 122. Mantle CompanyWorksheetFor the Year Ended December 31, […]
152. Hewlett-Packard Company (HP) designs, manufactures, and services computers and related products for a variety of industries worldwide. Economic characteristics of the computer industry include: 1. High rate of research and development spending and technological change. 2. Increasing use of outsourcing for the manufacture of computer components. 3. Reduced levels of product differentiation on computer hardware, with companies attempting to differentiate themselves on software, networking […]
Discussion 3
Do you think that air cargo revenue will ever exceed passenger revenue? Why or why not? Discuss several factors that will influence air cargo growth in the future ans share your thoughts with your classmates.
discussion 4
Discuss some of the problems faced by an airline scheduling department that are similar to problems of other industries and some problems that are unique to the airline industry. Discuss three marketing related problems. What is meant by traffic flow? Sensitivity of schedule salability? Share one example of the latter with your classmates.
Discussion 5
Discuss and share with your classmates the importance of the fleet-planning process to both short-term and long-term management decision making in an airline. How is this process in a sense betting on the future? What effect has deregulation had on the fleet-planning process?
discussion 6
Discuss with your classmates the difference between aircraft maintenance performed under Part 91 and Part 121, particularly in regards to the organization, structure, inspections, and training required. In addition, discuss the four maintenance efficiency goals and name several of the inspection and overhaul periods for a jet as it is routed throughout a system. Share your personal experience with the class in this arena whether you work in operations, or as a mechanic or pilot.
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