For February, sales revenue is $700,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising expenses are $80,000; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,100 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:
A) $185,650
B) $189,500
C) $196,100
D) $230,600
D
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All costs incurred to purchase land and prepare it for its intended use are credited to the land account
a. True b. False Indicate whether the statement is true or false
Lincoln Corp received advance payments from customers during 2016 of $10,000 . At December 31, 2016, $1,000 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2016, the balances in the Unearned Service Revenue and Service Revenue accounts will be Unearned Service Revenue Service Revenue
a. $ 1,000 $ 9,000 b. $ 1,000 $10,000 c. $11,000 $ 1,000 d. $ 9,000 $10,000
Which sequence of the mitotic stages is correct?
A. anaphase, prometaphase, metaphase, prophase, telophase B. prophase, prometaphase, metaphase, anaphase, telophase C. prophase, telophase, anaphase, prometaphase, metaphase D. telophase, anaphase, prophase, prometaphase, metaphase E. prophase, anaphase, prometaphase, metaphase, telophase
The risk of material misstatement related to the existence of long-lived assets at Client A is considered low, while this risk at Client B is considered high. Sufficiency of evidence for testing the existence of equipment would be higher for client B
a. True b. False Indicate whether the statement is true or false