Some ways customer demographics are changing discussed in this chapter are:
A)
"baby boomers" are changing the image of active 60-plus buyers.
B)
young people becoming active consumers at earlier age.
C)
businesses face a more diverse mix of cultures.
D)
All of the above.
D
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Norwood, Inc purchased a crane at a cost of $80,000 . The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was purchased on January 1, 2015 and was used 2,700 hours in 2015 and 2,600 hours in 2016. Refer to the information for Norwood, Inc Based on this information, what method of depreciation will produce the maximum
depreciation expense in 2015? a. Straight-line b. Double-declining-balance c. Units-of-production d. All methods produce the same expense in 2015.
Which of the following statements regarding vacation benefits is correct?
A) No entry is needed until the employee takes a paid vacation. B) The account, Vacation Expense is debited when the employee takes a paid vacation. C) Health and pension benefits are recorded in the same manner as vacation benefits. D) When an employee takes a paid vacation, the account, Vacation Benefits Payable is credited.
Cost of Materials Used $40,000 Direct Labor costs $55,000 Factory Overhead $32,000 Work in Process, beg. $28,000 Work in Process, end. $18,000 Finished Goods,beg. $28,000 Finished Goods, end. $18,000 What is Cost of Goods Sold?
A) $147,000 B) $137,000 C) $10,000 D) $128,000
Johnson Inc. owns control over Kaspar Inc. Johnson reports sales of $400,000 during 2018 while Kaspar reports $250,000. Kaspar transferred inventory during 2018 to Johnson at a price of $50,000. On December 31, 2018, 30% of the transferred goods are still held in Johnson's inventory. Consolidated accounts receivable on January 1, 2018 was $120,000, and on December 31, 2018 is $130,000. Johnson uses the direct approach in preparing the statement of cash flows. How much is cash collected from customers in the consolidated statement of cash flows?
A. $590,000. B. $635,000. C. $610,000. D. $625,000. E. $650,000.