When auditing expense accounts, which of the following would the auditor be least likely to subject to a detailed test of transactions?
a. Legal expense.
b. Utilities expense.
c. Repairs and maintenance expense.
d. Travel expense.
b
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A major concept behind self-goal setting is:
a. knowing your destination b. traveling without a clear picture c. reaching for easy goals d. reaching for unattainable goals
Critics of union shop agreements that argue these agreements violate employees' individual freedom by depriving them of a free choice about where to work. These critics argue they are protecting workers:
A. Right to work B. Seniority rights C. Free rider rights D. Job placement rights
In an accounting cycle, an analysis of transactions is performed at the end of each accounting period
Indicate whether the statement is true or false
Garber Corporation had 40,000 shares of $10 par common stock outstanding on January 1, Year 2. On June 1, Year 2, Garber purchased 5,000 shares of its own stock on the open market for $22 per share and held it as treasury stock. On October 1, Year 2, Garber declared and issued a 10% stock dividend. The market value of Garber's stock was $24 per share on October 1, Year 2. Garber's board of directors declared and paid a cash dividend of $57,750 on December 15, Year 2. Required:a) Prepare the journal entry to record the treasury stock purchase.b) Prepare the journal entry to record the stock dividend.c) Prepare the journal entry to record the cash dividend.d) What was the cash dividend per share that was paid on December 15?
What will be an ideal response?