External link to Question : 41. If an issuer sells a bond at any other : 1256376

Question : 41. If an issuer sells a bond at any other : 1256376

    41. If an issuer sells a bond at any other date than the interest payment date:  A. This means the bond sells at a premium. B. This means the bond sells at a discount. C. The issuing company will report a loss on the sale of the bond. D. The issuing company will report a gain on the sale of the bond. E. The buyer normally pays the […]

External link to Question : 159.The Lavender Company completed the following sales and cash receipts : 1258273

Question : 159.The Lavender Company completed the following sales and cash receipts : 1258273

  159.The Lavender Company completed the following sales and cash receipts transactions during the first week of December. The Lavender Company uses the periodic inventory system.  Dec. 1Sold merchandise for $6,700 on credit to the Banks Co., terms 2/10, n/30, invoice no. 1455. Cost of the merchandise sold is $3,600. Dec. 1Sold merchandise for $3,400 on credit to the Warsaw Co., terms 2/10, n/30. Invoiceno. […]

External link to Question : 104. Land purchased for $456,000. Additional costs include a $30,300 fee : 1229813

Question : 104. Land purchased for $456,000. Additional costs include a $30,300 fee : 1229813

    104. Land is purchased for $456,000. Additional costs include a $30,300 fee to a broker, a survey fee of $3,400, $2,750 to construct a fence, and a legal fee of $12,500. What is the cost of the land?  A. $456,000. B. $486,300. C. $502,200. D. $504,950.     105. An asset which costs $97,600 and has accumulated depreciation of $82,000 is sold for $18,000. What amount of gain or […]

External link to Question : 101.Emerald Co. uses a perpetual inventory system and records purchases : 1237622

Question : 101.Emerald Co. uses a perpetual inventory system and records purchases : 1237622

    101.Emerald Co. uses a perpetual inventory system and records purchases of merchandise at net cost. The company recently purchased 200 compact discs at an invoice price of $6,000 and terms of 2/10, n/30. Half of these discs had been mislabeled and were returned immediately to the supplier. The journal entry to record payment of this invoice after the discount period has expired will […]

External link to Question : 61. When a company faces a shortage of labor: A. it has the : 1251014

Question : 61. When a company faces a shortage of labor: A. it has the : 1251014

    61. When a company faces a shortage of labor:  A. it has the option of trying to garner more hours out of the existing labor force. B. having to pay workers time-and-a-half for overtime production is not an option. C. employers prefer hiring and training new employees. D. employers prefer hiring part-time employees only. Despite having to pay workers time-and-a-half for overtime production, employers see this as preferable […]

External link to Question : 24) What the purpose of a bank reconciliation? 25) The accountant : 1253226

Question : 24) What the purpose of a bank reconciliation? 25) The accountant : 1253226

  24) What is the purpose of a bank reconciliation?   25) The accountant for Midway Company is reconciling the company’s cash account with the bank statement. Below is a list of items that will be included in the reconciliation. Write the LETTER for each item as either an addition to or a subtraction from either the bank balance or the book balance.   a.Midway […]

External link to Question : 51. Book value per share: A. Reflects the value per share if a : 1256407

Question : 51. Book value per share: A. Reflects the value per share if a : 1256407

    51. Book value per share:  A. Reflects the value per share if a company is liquidated at balance sheet amounts. B. Is assets divided by equity. C. Is assets divided by the number of common share outstanding. D. Measures the worth of assets. E. Is equal to par value per share.       52. A company has 40,000 shares of common stock outstanding. The stockholders’ equity applicable to common […]

External link to Question : 192. A department store apportions payroll costs the basis of the : 1239610

Question : 192. A department store apportions payroll costs the basis of the : 1239610

  192. A department store apportions payroll costs on the basis of the number of payroll checks issued. Accounting costs are apportioned on the basis of the number of reports. The payroll costs for the year were $231,000 and the accounting costs for the year totaled $75,500. The departments and the number of payroll checks and accounting reports for each are as follows:    Number ofPayroll […]

External link to Question : 31.Which of the following costs an example of a product-level : 1257161

Question : 31.Which of the following costs an example of a product-level : 1257161

    31.Which of the following costs is an example of a product-level cost?    A. Machine setup costs   B. Patent filing costs   C. Materials and labor costs   D. Shipping and handling costs     32.Which of the following costs is an example of a batch-level cost?    A. Assembly setup costs   B. Materials handling costs   C. Shipping and handling costs to ship an order to a customer   […]

External link to Question : 71.Refer to the information above. On March 1, Hoffman paid : 1237602

Question : 71.Refer to the information above. On March 1, Hoffman paid : 1237602

    71.Refer to the information above. On March 1, Hoffman paid in advance for four months’ insurance. The necessary adjusting entry at March 31 includes which of the following?    A. A credit to Prepaid Insurance for $2,340.   B. A credit to Prepaid Insurance for $780.   C. A debit to Prepaid Insurance for $2,340.   D. A debit to Prepaid Insurance for $780. $3,120/4 = $780   […]

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