External link to Question : 189.The following facts pertain to Rojas Corporation: Retained Earnings balance, December : 1244214

Question : 189.The following facts pertain to Rojas Corporation: Retained Earnings balance, December : 1244214

  189.The following facts pertain to Rojas Corporation:   Retained Earnings balance, December 31, 20×7 $550,000 Cash dividends declared and paid in 20×8 60,000 Cash dividends declared but not paid in 20×8 20,000 Retained Earnings balance reported on December 31, 20×8, balance sheet 675,000   On the basis of these facts, compute the amount of net income (loss) for Rojas Corporation for 20×8.     […]

External link to Question : 21) Dolly’s Best issued 200 shares of its $10 common : 1171126

Question : 21) Dolly’s Best issued 200 shares of its $10 common : 1171126

  21) Dolly’s Best issued 200 shares of its $10 common stock in exchange for used packaging equipment with a fair market value of $2,400. The entry to record the acquisition of the equipment would include a: A) debit to Equipment for $2,000. B) credit to Paid-in Capital in Excess of Par Value-Common for $400. C) credit to Common Stock for $2,400. D) credit to […]

External link to Question : 5.5   Questions 1) An example of full disclosure would be a : 1232302

Question : 5.5   Questions 1) An example of full disclosure would be a : 1232302

  5.5   Questions   1) An example of full disclosure would be a footnote to the financial statements indicating what method was used to value inventory.   2) Knowledgeable decisions that are made by outsiders who read financial reports are a result of the concept of conservatism.   3) Shrinkage refers to the loss of inventory due to theft, damage or other similar occurrences. 4) […]

External link to Question : 9) Which of the following statements FALSE regarding cost-plus pricing? : 1216933

Question : 9) Which of the following statements FALSE regarding cost-plus pricing? : 1216933

  9) Which of the following statements is FALSE regarding cost-plus pricing? A) A company selects a cost base that it regards as reliable. B) A company uses a markup percentage that estimates a product price that covers full product costs and earns the required return on investment. C) The selling price computed is only a prospective price. D) The cost-plus price chosen has already […]

External link to Question : 107.If office equipment sold at cost in exchange for a : 1244308

Question : 107.If office equipment sold at cost in exchange for a : 1244308

    107.If office equipment is sold at cost in exchange for a promissory note,   a. total liabilities increase. b. total assets remain the same. c. total liabilities and stockholders’ equity decrease. d. total assets decrease.       108.The declaration and payment of a dividend will   a. decrease net income. b. not affect total assets. c. decrease stockholders’ equity. d. increase liabilities. […]

External link to Question : 7) Product costs used for external reporting generally include: A) : 1217076

Question : 7) Product costs used for external reporting generally include: A) : 1217076

  7) Product costs used for external reporting generally include: A) manufacturing costs only B) design costs plus manufacturing costs C) all costs incurred along the value chain D) All of these answers are correct. 8) Inventoriable costs for external reporting purposes are also called: A) product costs B) period costs C) variable costs D) direct manufacturing costs 9) For external reporting: A) costs are […]

External link to Question : 37. In the area of cost-volume-profit analysis, the contribution margin ratio : 1229578

Question : 37. In the area of cost-volume-profit analysis, the contribution margin ratio : 1229578

    37. In the area of cost-volume-profit analysis, the contribution margin ratio shows how much each dollar of sales contributes to:  A. Covering the fixed costs of the business and providing operating income. B. Fixed expenses and variable expenses. C. Variable expenses and interest charges. D. Variable expenses when production is at normal capacity.     38. The margin of safety is calculated by:  A. Dividing fixed costs plus target income […]

External link to Question : 118.All of the following estimated liabilities except a. liability for vacation pay. b. : 1244456

Question : 118.All of the following estimated liabilities except a. liability for vacation pay. b. : 1244456

118.All of the following are estimated liabilities except   a. liability for vacation pay. b. property taxes liability. c. product warranty liability. d. payroll liabilities.       119.During July, Audio City sold 200 radios for $50 each. Each radio had cost Audio City $32 to purchase and carried a two-year warranty. If 5 percent typically need to be replaced over the warranty period and […]

External link to Question : 51. Which of the following important when evaluating long-term investments? A. Investments must : 1251752

Question : 51. Which of the following important when evaluating long-term investments? A. Investments must : 1251752

    51. Which of the following is important when evaluating long-term investments?  A. Investments must earn a reasonable rate of return B. Employees are able to determine and propose capital equipment for their divisions or departments C. Proposals should match long term goals. D. All of the above.   52. Which of the following are present value methods of analyzing capital investment proposals?  A. Internal rate of return and average rate […]

External link to Question : 195.Prepare journal entries to record the following merchandising transactions of : 1258817

Question : 195.Prepare journal entries to record the following merchandising transactions of : 1258817

      195.Prepare journal entries to record the following merchandising transactions of Margin Company, Inc., which applies the perpetual inventory system. Margin Company, Inc. offers all of its credit customers credit terms of 2/10, n/30.  May 1Purchased merchandise from Craft Company for $7,800 under credit terms of 1/10, n/30, FOB shipping point, invoice dated May 1. May 2Purchased merchandise from Bow Company for $10,600 […]

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