External link to Question : Learning Objective 7-5 1) On November 1, 2011, The Mane Event, : 1253338

Question : Learning Objective 7-5 1) On November 1, 2011, The Mane Event, : 1253338

  Learning Objective 7-5   1) On November 1, 2011, The Mane Event, Inc. borrowed $40,000 from a local bank for 24 months at 11% annual interest. Both principal and interest are due when the note matures. Which statement below is TRUE? A) The note is a current-term liability on the balance sheet at Dec. 31, 2011. B) The note is a long-term liability on […]

External link to Question : 131. As of January 1 of the current year, the Grackle : 1239556

Question : 131. As of January 1 of the current year, the Grackle : 1239556

    131. As of January 1 of the current year, the Grackle Company had accounts receivables of $50,000. The sales for January, February, and March were as follows: $120,000, $140,000 and $150,000. 20% of each month’s sales are for cash. Of the remaining 80% (the credit sales), 60% are collected in the month of sale, with remaining 40% collected in the following month. What is […]

External link to Question : Learning Objective 6-7 1) Use the following selected information from PDG : 1253302

Question : Learning Objective 6-7 1) Use the following selected information from PDG : 1253302

  Learning Objective 6-7   1) Use the following selected information from PDG Corporation to determine the return on assets for the year. Beginning total assets $300,000 Ending total assets $350,000 Sales revenue $900,000 Total operating expenses $800,000 Interest $15,000 Net income $85,000   A) 15% B) 276.92% C) 26.15% D) 30.77% 2) Use the following selected information from PDG Corporation to determine the asset […]

External link to Question : 91.On December 31, Louis Jeweler’s made an adjusting entry to : 1237585

Question : 91.On December 31, Louis Jeweler’s made an adjusting entry to : 1237585

    91.On December 31, Louis Jeweler’s made an adjusting entry to record $4,200 accrued interest payable on its mortgage. On January 10, the mortgage payment was made. This payment included interest charges of $6,300, $2,100 of which were applicable to the period from January 1 through January 10. When recording this mortgage payment, the accountant should:    A. Debit Interest Expense $2,100 and debit Accrued Interest […]

External link to Question : 101. Regarding overhead costs, as volume increases:A.  Unit fixed cost : 1256692

Question : 101. Regarding overhead costs, as volume increases:A.  Unit fixed cost : 1256692

    101. Regarding overhead costs, as volume increases: A.  Unit fixed cost increases, unit variable cost decreases. B.  Unit fixed cost decreases, unit variable cost increases. C.  Unit variable cost decreases, unit fixed cost remains constant. D.  Unit fixed cost decreases, unit variable cost remains constant. E.  Both unit fixed cost and unit variable cost remain constant.     102. Price Company’s flexible budget […]

External link to Question : 81.Brett Tarek, a manager at D&J Landscaping, Inc. needs information : 1237562

Question : 81.Brett Tarek, a manager at D&J Landscaping, Inc. needs information : 1237562

    81.Brett Tarek, a manager at D&J Landscaping, Inc. needs information regarding the amount of accounts payable currently owed by the company. This information would most easily be found in the:    A.General ledger.   B.General journal.   C.Income statement.   D.Notes to the financial statements.         82.Transactions are recorded in the general journal in:    A.Numerical order.   B.Chronological order.   C.Account […]

External link to Question : 56. Which of the following conditions normally would not indicate that : 1227012

Question : 56. Which of the following conditions normally would not indicate that : 1227012

  56. Which of the following conditions normally would not indicate that standard costs should be revised?  A. The engineering department has revised product specifications in responding to customer suggestions. B. The company has signed a new union contract which increases the factory wages on average by $2.00 an hour. C. Actual costs differed from standard costs for the preceding week. D. The world price of raw materials increased.   […]

External link to Question : 111.Which of the following would not be presented in the : 1237495

Question : 111.Which of the following would not be presented in the : 1237495

    111.Which of the following would not be presented in the cash flows from operating activities section of the statement of cash flows when the direct method is used?    A. Dividends paid.   B. Dividends received.   C. Neither dividends paid nor dividends received would be shown.   D. Both dividends paid and dividends received would be shown.         112.Which statement is true as to […]

External link to Question : 16) The partial productivity of overhead resources can be measured : 1211793

Question : 16) The partial productivity of overhead resources can be measured : 1211793

  16) The partial productivity of overhead resources can be measured by considering the cost driver as ________. A) budgeted input B) the denominator C) the fixed input D) the numerator   17) Which of the following statements is true of productivity measures? A) Partial productivity and total factor productivity measures  never work best together. B) Partial productivity explicitly considers gains from using fewer physical […]

External link to Question : 117.A company issued 60 shares of $100 par value common : 1236415

Question : 117.A company issued 60 shares of $100 par value common : 1236415

  117.A company issued 60 shares of $100 par value common stock for $7,000 cash. The total amount of paid-in capital in excess of par is:    A.$100. B.$600. C.$1,000. D.$6,000. E.$7,000. 118.A corporation issued 5,000 shares of $10 par value common stock in exchange for some land with a market value of $70,000. The entry to record this exchange is:    A.Debit Land $70,000; credit Common […]

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