(Use the Healthy Lawn information to answer this question.) The aggregate effect of these entries during 2013 is as follows:
a. Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
Accounts Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
b. Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
Accounts Receivable, Net . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . 2,000,000
c. Accounts Receivable, Net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
Sales Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
d. Accounts Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
Sales Revenue . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . 2,000,000
e. Notes Receivable, Gross . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000,000
Sales Revenue . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . 2,000,000
D
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The depreciation method using a fixed rate applied to the book value of the asset each year, resulting in successively smaller depreciation charges as the undepreciated cost diminishes year by year, is called the declining balance method
a. True b. False Indicate whether the statement is true or false
Unsecured creditors may seize any asset of the borrower once they have a debt collection judgment.
Answer the following statement true (T) or false (F)
Identify the statement that challenges Albert Carr's analogy that, like poker, business is a game that has its own rules and, therefore, is exempt from ordinary requirements of morality.
A. Even if business did have its own set of ethical conventions, that fact alone does not exempt it from ordinary ethical evaluations. B. Unlike poker games, individual often have no choice but to participate in business practices. C. Carr overestimates the prevalence and acceptability of dishonesty within business. D. There are major disanalogies between business and games like poker that weaken the conclusions drawn from Carr's analogy. E. All of the answers are correct. F. None of the answers are correct.
Standard Corporation has developed standard manufacturing overhead costs based on a capacity of 180,000 direct labor-hours (DLHs) as follows:Standard overhead costs per unit:Variable portion: 2 DLHs × $3 per DLH = $6Fixed portion: 2 DLHs × $5 per DLH = $10The following data pertain to operations in April: Actual output 80,000unitsActual direct labor cost$644,000 Actual direct labor-hours worked 165,000DLHsVariable overhead cost incurred$518,000 Fixed overhead cost incurred$860,000 The fixed manufacturing overhead volume variance for April was:
A. $100,000 Favorable B. $60,000 Favorable C. $60,000 Unfavorable D. $100,000 Unfavorable