External link to Question : 4.2   Learning Objective 4-2 1) The capital balance amount shown in : 1171283

Question : 4.2   Learning Objective 4-2 1) The capital balance amount shown in : 1171283

  4.2   Learning Objective 4-2 1) The capital balance amount shown in the balance sheet column of the worksheet represents: A) the beginning capital plus net income interest. B) the beginning capital plus net income less withdrawal. C) the beginning capital less withdrawals. D) the beginning capital plus any investments to capital that occurred during the period. 2) When Balance Sheet credits exceed the debits […]

External link to Question : 51) Eyewear Unlimited has accounts receivable of $16,000 and an : 1212760

Question : 51) Eyewear Unlimited has accounts receivable of $16,000 and an : 1212760

51) Eyewear Unlimited has accounts receivable of $16,000 and an allowance for doubtful accounts with a credit balance of $1,700 before a specific account of $60 is written off. What were net accounts receivable before and after the write-off? A) Before After $16,000 $14,360   B) Before After $16,000 $16,000   C) Before After $14,300 $14,240   D) Before After $14,300 $14,300   52) Accounts […]

External link to Question : 96. Which of the following not a reason for a direct : 1226996

Question : 96. Which of the following not a reason for a direct : 1226996

    96. Which of the following is not a reason for a direct materials quantity variance? A. Malfunctioning equipmentB. Purchasing of inferior raw materialsC. Increased material cost per unitD. Spoilage of materials   97. The formula to compute direct labor rate variance is to calculate the difference between A. Actual Costs + (Actual hours ´ Standard rate)B. Actual Costs – Standard CostC. (Actual Hours ´ Standard Rate) – Standard CostsD. Actual Costs – (Actual Hours ´ […]

External link to Question : 138. A company preparing completing their Cash Budget. The following data : 1226976

Question : 138. A company preparing completing their Cash Budget. The following data : 1226976

    138. A company is preparing completing their Cash Budget.  The following data has been prepared for cash receipts and payments.    January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 Cash payments 984,500 1,210,000 1,075,000         The company’s cash balance at January 1st is $290,000.  This company desires a minimum cash balance of $340,000. What is the amount of excess cash or […]

External link to Question : Objective 5.6 1) Gregory Enterprises has identified three cost pools to : 1212086

Question : Objective 5.6 1) Gregory Enterprises has identified three cost pools to : 1212086

  Objective 5.6   1) Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:   Cost PoolOverhead CostsCost driverActivity level Supervision of direct labor$320,000Direct labor-hours800,000 Machine maintenance$120,000Machine-hours960,000 Facility rent$200,000Square feet of area100,000 Total overhead costs$640,000   The accounting records show the Mossman Job consumed the following resources:   Cost driverActual level Direct labor-hours200 Machine-hours1,600 […]

External link to Question : 51) The net present value method better than the internal rate : 1196186

Question : 51) The net present value method better than the internal rate : 1196186

  51) The net present value method is better than the internal rate of return because 51) ______ A) the internal rate of return is simple. B) the net present value method is difficult to use in management decisions. C) investments may have multiple internal rates of return. D) the NPV’s of different projects can be added together, and investments may have multiple internal rates […]

External link to Question : Objective 19.4 Answer the following questions using the information below: Tri-State Manufacturing : 1217048

Question : Objective 19.4 Answer the following questions using the information below: Tri-State Manufacturing : 1217048

  Objective 19.4   Answer the following questions using the information below:   Tri-State Manufacturing expects to spend $800,000 in 2012 in appraisal costs if it does not change its incoming materials inspection method. If it decides to implement a new receiving method, it will save $80,000 in fixed appraisal costs and variable costs of $0.40 per unit of finished product. The new method involves […]

External link to Question : 126. A company has net sales of $752,000 and cost of : 1257878

Question : 126. A company has net sales of $752,000 and cost of : 1257878

    126. A company has net sales of $752,000 and cost of goods sold of $543,000. Its net income is $17,530. The company’s gross margin and operating expenses, respectively,are: A. $209,000 and $191,470B. $191,470 and $209,000C. $525,470 and $227,000D. $227,000 and $525,470E. $734,000 and $191,470   127. Which of the following accounts is used in the periodic inventory system but not used in the perpetual inventory system? A. Merchandise InventoryB. SalesC. Sales Returns and AllowancesD. Accounts PayableE. Purchases […]

External link to Question : Multiple Choice Questions 31. Purchases of merchandise are A. debited to Merchandise Inventory.B. credited to : 1202664

Question : Multiple Choice Questions 31. Purchases of merchandise are A. debited to Merchandise Inventory.B. credited to : 1202664

  Multiple Choice Questions   31. Purchases of merchandise are  A. debited to Merchandise Inventory. B. credited to Merchandise Inventory. C. debited to Purchases. D. credited to Sales. 32. 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 income statement. C. an asset on the balance sheet. D. an addition to capital on the statement […]

External link to Question : 157. Stanley, Inc.’s 2009 income statement reported net sales of $6,000,000, : 1229760

Question : 157. Stanley, Inc.’s 2009 income statement reported net sales of $6,000,000, : 1229760

    157. Stanley, Inc.’s 2009 income statement reported net sales of $6,000,000, uncollectible accounts expense of $160,000, and net income of $700,000. Stanley’s average accounts receivable during 2009 amounted to $1,200,000. Using 360 days to a year, Stanley’s  A. Accounts receivable turnover rate is approximately 4.4 times. B. Accounts receivable turnover rate is approximately 2.5 times. C. Average number of days to collect an account receivable is 72 […]

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