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1) Roy purchased a one-year insurance policy for $2,400. The adjusting entry for one month would include a: A) debit to Prepaid Insurance, $200. B) credit to Cash, $200. C) debit to Insurance Expense, $200. D) None of these answers are correct. 2) The capital balance amount shown in the balance sheet column of the worksheet represents: A) beginning capital plus net income. B) beginning capital plus investments to capital. C) beginning capital less withdrawals. D) beginning capital plus net income less withdrawal. 3) When counting the supplies a fi le cabinet was forgotten and the adjustment was made based on the incorrect count. This would: A) overstate the period's net income. B) overstate the end of period assets. C) understate the end of period assets. D) None of these are correct. 4) The adjustment for accrued wages included the entire pay period, some of which occurs next month. This would: A) understate the end of period liabilities. B) overstate the period's net income. C) overstate the end of period liabilities. D) None of these are correct. 5) The purchase of equipment will require an adjustment of: A) increasing the total assets and increasing the total expenses at the end of the month. B) decreasing the total assets and decreasing the total expenses at the end of the month. C) decreasing the total assets and increasing the total expenses at the end of the month. D) none of the above.
the welding department of hirohama manufacturing company has the following production and manufacturing cost data for
A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:
clark international produces designer watches. each watch requires materials worth 14.50 and three direct labor hours.
Describe a variable, fixed, mixed and step cost in an organization. Would this organization be more likely to benefit from using a manufacturing cost hierarchy or a customer cost hierarchy for determining cost drivers?
If 12,500 units are produced, what is the total of fixed manufacturing cost incurred to support this level of production?
Sharp and Townson had capital balances of of 60,000 and 90,000 respectively at the beginning of the current fiscal year.
Assume the expected return on the market portfolio is 15% and the riskless return is 9%. Also assume that all of the projects listed here are perpetuities with annual cash flows (in $) and betas as indicated. None of the projects requires or precl..
last year attic charged 3496000 depreciation on the income statement . if early this year attic sold all its
1. once upon a time your mother told you to pay yourself first - and you always listened to your mother except for the
suppose a student has a 20000 credit card debt on january 1. the company charge 12 annual interest rate and it is
the owners equity at the beginning of the period was 46000 at the end of the period assets were 99000 and liabilities
given a normal distribution with ?100 and ? 10 what is the probability that a. x gt 75? b. x lt 70? c. x lt 80 or x gt
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