What is the journal entry to record materials in the amount of $50,000 purchased on account?
a. debit Work in Process $50,000, credit Accounts Payable $50,000
b. debit Accounts Payable $50,000, credit Materials $50,000
c. debit Materials $50,000, credit Accounts Payable $50,000
d. debit Accounts Payable $50,000, credit Work in Process $50,000
c
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Which of the following is not something you do when proofreading for format errors?
A) Look for errors in grammar, spelling, and word usage. B) Read the document again after making a change. C) Check that the document looks attractive on the page. D) Visually inspect the document for appropriate format. E) Be sure that all document parts are in the proper position.
A dividend reinvestment plan (DRIP):
A. offers fixed dividends to the firm's stockholders. B. requires payment of a constant percentage of the firm's earnings as annual cash dividends. C. enables stockholders to automatically reinvest cash dividends they receive in the stocks of the dividend-paying firm. D. pays stockholders tax-free cash dividends. E. pays extra cash dividends in years the firm has few acceptable investment opportunities.
Customers at an amusement park arrive at the rate of 10 customers per hour. The entry booth is staffed by one employee. The mean service time at the booth to provide service to each customer is 5 minutes. The arrival rate follows a Poisson distribution, and the service time at the booth follows a negative exponential distribution. It is estimated that the cost of customer waiting time associated with dissatisfied customers and loss of goodwill is $15 per hour. The employee at the service booth is paid $10 an hour. Determine the total expected cost per day for the waiting line system. Assume total hours of operation as 10 hours per day.
a. $725 b. $625 c. $500 d. $100
The Safe Drinking Water Act of 1974 requires permits for most point sources of pollution, such as industrial emissions.
Answer the following statement true (T) or false (F)