Which of the following uses fingerprint or hand-vein scan technology to produce the time and attendance file?
a. Biometric time clocks
b. Magnetic swipe ID cards
c. Mobile remote devices
d. Proximity cards
A
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The unadjusted trial balance and the adjustment data for Porter Business Institute are given below along with adjusting entry information. What is the impact on net income if these adjustments are not recorded? Show the calculation for net income without the adjustments and net income with the adjustments. Which one gives the most accurate net income? Which accounting principles are being violated if the adjustments are not made? Porter Business InstituteUnadjusted Trial BalanceDecember 31 (in millions)?Cash…………………………………………………. ?$ 58,000??Accounts receivable…………..………………59,000??Prepaid insurance …………………………...12,000??Equipment …………………………………….8,000??Accumulated
depreciation-equipment ……….. ??$ 2,000Buildings………………………………………...57,500??Accumulated depreciation-buildings…………..??17,500Land………………………………….55,000??Unearned rent…………………………………..??16,000Long-term notes payable……………………….??50,000Common stock……………………….??50,000Retained earnings ……………………………….??65,600Tuition fees earned ……………………….??74,000Training fees earned ………………………….??23,400Wages expense ……………………………………...32,000??Utilities expense …………………………….8,000??Property taxes expense …………………………5,000??Interest expense …………………………………….4,000?________Totals ………………………………………..$ 298,500 ?$298,500 Additional information items:a. The Prepaid Insurance account consists of a payment for a 1 year policy. An analysis of the insurance invoice indicates that one half of the policy has expired by the end of the December 31 year-end.b. A cash payment for space sublet for 8 months was received on July 1 and was credited to Unearned Rent.c. Accrued interest expense on the note payable of $1,000 has been incurred but not paid. What will be an ideal response?
When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts receivable is subtracted from net income.
Answer the following statement true (T) or false (F)
TomSauce, a brand of tomato sauce, advertises that the tomatoes it uses are processed within 24 hours of being picked to ensure product freshness. In this scenario, the fresh tomatoes are examples of__________
Fill in the blanks with correct word.
When Delphi-Grundig, a manufacturer of state-of-the-art car radios, decided to expand its marketing efforts into countries in which its products are not currently available, it did not have the time or resources to spend on developing new channels of distribution. Delphi-Grundig should consider a(n):
A. industrial distributor B. franchising system C. reverse channel D. strategic channel alliance E. channel cooperative