Zimmerman Company sold land for $25,000 cash. The original cost of the land was $25,000. Which of the following accurately reflects how this event affects the company's horizontal financial statements model? Assets=Liab.+EquityRev.?Exp.=Net Inc.Stmt ofCash FlowsA.NA=NA+NANA?NA=NA25,000 IAB.(25,000)=NA+(25,000)NA?NA=NA(25,000) IAC.25,000=25,000+NANA?NA=NA25,000 FAD.None of these.
A. Option A
B. Option B
C. Option C
D. Option D
Answer: A
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Barb has been a children's day care provider for several years in the small town of Sallton. She has decided to give it all up and move to the big city for excitement and adventure. She sells her business to Ken, agreeing not to open a competing business within five miles of Sallton for a period of nine months. After five months of the big city life, Barb is broke and moves back to Sallton. She
opens a small day care business. Ken sues on the noncompete clause. What is the most likely result? a. Ken wins. The agreement is enforceable. b. Barb wins. The agreement is denying her the right to do the only thing she knows how to do. c. Barb wins. The agreement is not enforceable because it is not ancillary to a legitimate bargain. d. Barb wins. The agreement is not reasonable as to time.
Which of the following statements is true about small businesses?
A. They get easy financing that leads to too many choices for funding. B. Small businesses provide low employee job satisfaction owing to a lower volume of transactions. C. Inadequate management in small businesses creates problems for small business owners and entrepreneurs. D. They are not subject to burdensome government regulations and paperwork.
The following information is available for Annum Corporation for the current year:Cost of goods sold …………………………..$292,000Depreciation of factory equipment ………….25,200Direct labor …………………..………………64,750Finished goods inventory, beginning ….45,000Factory insurance ……………………………11,200Factory utilities ………………………………16,800Goods transferred from Work in ProcessInventory to Finished Goods Inventory ……285,150Indirect labor …………………………………8,400Raw materials inventory, beginning….... 4,200Raw materials purchased ……………………. 116,200Raw materials used in production(includes $7,000 of indirect materials) ….....121,800Rent on factory building
……………………...22,400Annum Company uses a predetermined overhead rate of 150% of direct labor cost. Prepare journal entries for the following transactions and events.(a) Purchase of raw materials on account.(b) Assignment of materials costs to Work in Process Inventory and Factory Overhead.(c) Assignment of factory payroll to Work in Process Inventory and Factory Overhead.(d) Recording of other factory overhead. Assume that all items other than depreciation are paid in cash.(e) Apply factory overhead to Work in Process Inventory.(f) Transfer of goods completed to Finished Goods Inventory.(g) Recording cost of goods sold.(h) Assignment of over- or underapplied overhead to Cost of Goods Sold. What will be an ideal response?
?Marketers resolve ethical issues based on their experiences and what they learn from others in the organization. The outcome of this learning process depends on _____________________, opportunity for unethical behavior, and exposure to others who behave ethically or unethically. ?
A. ?their educational training B. ?their level in the organization C. ?their incentive plan D. ?the strength of personal values E. ?the monetary factors that influence ethical decision making