Howard Inc provides temporary clerical services to local businesses. The company has determined that total costs for a given month can be predicted by using the following formula: Total costs = $2,500 + $20x where "x" equals total direct labor hours for the month. If total direct labor hours for June are expected to be 600, what are total costs expected to be?
A) $ 9,500
B) $14,500
C) $12,000
D) $ 2,520
B
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Kim, a real estate dealer, and others form Eagle Corporation under § 351. Kim contributes inventory (land held for resale) in return for Eagle stock. The holding period for the stock includes the holding period of the inventory.
Answer the following statement true (T) or false (F)
Pepperdine reported net sales of $8,600 million, net income of $126 million and average accounts receivable of $890 million. Its accounts receivable turnover is:
A. 68.3. B. 37.8. C. 7.1. D. 9.7. E. 51.7.
The judge will make the first "opening statement."
a. True b. False
The information reported in financial statements is organized into ten categories known as accounts.
Answer the following statement true (T) or false (F)