The minutes of a meeting should identify the names of individuals present and absent
Indicate whether the statement is true or false
True
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On January 1, 2018, Brazos Company purchased equipment and signed a six-year mortgage note for $97,000 at 15%. The note will be paid in equal annual installments of $25,631, beginning January 1, 2019. On January 1, 2019, the journal entry to record the first installment payment will include a ________.
(Round your answer to the nearest whole number.) A) debit to Mortgage Payable for $25,631 B) debit to Interest Expense for $14,550 C) credit to Cash for $11,081 D) credit to Mortgage Payable for $97,000
________ have unlimited liability for the actions of the business.
A. Limited partners B. General partners C. Limited liability company members D. Corporate shareholders
Xion Industries is a private firm, but it experiences both direct and indirect control from the government to influence the strategies it uses. In addition, it finds it advantageous to maintain political ties with the government in order to gain access to resources. Of the United States, Japan, China, and Germany, it is most likely that Xion is based in China.
Answer the following statement true (T) or false (F)
Jaquish Inc. has provided the following data for the month of January. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In ProcessFinished GoodsCost of Goods SoldTotalDirect materials$2,440 $7,800 $37,900 $48,140 Direct labor 3,190 12,480 60,640 76,310 Manufacturing overhead applied 3,200 6,400 30,400 40,000 Total$8,830 $26,680 $128,940 $164,450 Manufacturing overhead for the month was underapplied by $6,000. The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those
accounts. The finished goods inventory at the end of January after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: A. $25,707 B. $27,640 C. $27,653 D. $25,720