Stock categorized as trading securities is purchased for $72,000. At year end, when the market value of the stock is $63,000, the adjusting entry that would be recorded is:
A) Allowance to Adjust Short-Term Investments to Market 9,000 Unrealized Loss on Investments 9,000
B) Unrealized Loss on Short-Term Investments 9,000 Allowance to Adjust Short-Term Investments to Market 9,000
C) Allowance to Adjust Short-Term Investments to Market 9,000 Short-Term Investments 9,000
D) Realized Loss on Investments 9,000 Short-Term Investments 9,000
B
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When referring to employee ‘voice’, the extent to which employees (or their representatives) share in decision-making outcomes with management is referred to as its:
a. depth b. level c. scope d. form
Operating leverage has to do with
A) the incurrence of fixed operating costs in the firm's income stream. B) financing with fixed cost sources of capital. C) using preferred stock to increase sales volume. D) borrowing money to finance a firm's growth.
What amount should be reported as expenditures for the current fiscal year when accounting for inventories of supplies under the purchase method and under the consumption method? Purchase MethodConsumption MethodA)amount usedamount purchasedB)amount usedamount usedC)amount purchasedamount purchasedD)amount purchasedamount used
A. Option A B. Option B C. Option C D. Option D
Mr. Dennis purchased a machine for use in his business. Mr. Dennis' costs in connection with this purchase were as follows:Note to seller$33,000Cash paid to seller5,000State sales tax2,400Freight to place of business1,500Wages paid to workers to install machine4,200What is the amount of Mr. Dennis' basis in the machine?
A. $40,400 B. $41,900 C. $33,000 D. $46,100