According to generally accepted accounting principles, treasury stock usually should be recorded at
a. original issue cost.
b. par or stated value.
c. cost.
d. net realizable value.
C
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Eli Whitney ______.
a. invented the assembly line b. encouraged the use of interchangeable parts c. developed the concept of Six Sigma d. introduced robust product design
Peabody Books Inc wishes to borrow $182,000 today for the purchase of publishing materials. They have an agreement with their commercial banker that they can borrow money at an annual rate of 4.75%
How much will the firm owe if they repay the loan in exactly one year? A) $8,645 B) $173,747.02 C) $182,000 D) $190,645
In the accounting equation, assets are equal to:
A. liabilities plus owners' equity. B. liabilities divided by gross profit. C. stockholders' equity subtracted from liabilities. D. owners' equity multiplied by net income.
Morice Industries Inc. has developed a new injection mold, model IA-05, that is designed to offer superior performance to a comparable injection mold sold by Morice's main competitor. The competing injection mold sells for $54,000 and needs to be replaced after 1,000 hours of use. It also requires $7,000 of preventive maintenance during its useful life. Model IA-05's performance capabilities are similar to the competing product with two important exceptions-it needs to be replaced only after 2,000 hours of use and it requires $8,000 of preventive maintenance during its useful life.From a value-based pricing standpoint, what is model IA-05's economic value to the customer over its 2,000 hour life?
A. $68,000 B. $114,000 C. $108,000 D. $60,000