A credit memo states the amount of a sales allowance or return.
Answer the following statement true (T) or false (F)
True
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Use the information below for Soho Inc for 2016 and 2017 to answer the following question. Equipment, December 31, 2016 $65,000 Equipment, December 31, 2017 72,000 Accumulated depreciation, December 31, 2016 39,000 Accumulated depreciation, December 31, 2017 30,000 During 2016, Soho Inc sold equipment with a cost of $30,000 and accumulated depreciation of $25,000 . A gain of $3,000 was recognized
on the sale of the equipment This was the only equipment sale during the year. What amount would be reported as the cash proceeds from the sale of equipment? a. $2,000 b. $3,000 c. $5,000 d. $8,000
Sara is the marketing manager of a small HR consultancy firm. She is in the process of building a database to assist her company in its marketing efforts. Give five problems that can make the database less effective
What will be an ideal response?
Which of the following statements regarding goodwill is false?
A) Goodwill is never amortized for financial reporting purposes. B) A company must review its goodwill for impairment annually. C) A company must review its goodwill for impairment whenever events or changes in circumstances occur that would more likely than not reduce the fair value below its carrying value. D) A company records goodwill at the time that it acquires another company or at the time it determines that material intellectual capital exists in its employees.
Identify the pronoun or pronouns in the sentence. Oh, no! When the e-mail went out, it had a really bad virus!