Creditors of Northern Hydraulics file an involuntary bankruptcy petition against the company and the petition is approved. What is true of Northern Hydraulics?
A) Northern Hydraulics has at least $10,425 in debts.
B) There are at least 12 creditors.
C) A custodian has automatically been appointed.
D) It must make all the filings necessary under a voluntary petition.
D
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Buckle Company reported the following information for 2011 and 2012. Accounts payable, December 31, 2011 $ 60,000 Accounts payable, December 31, 2012 80,000 Inventory, December 31, 2011 45,000 Inventory, December 31, 2012 60,000 Cost of goods sold--2012 1,000,000 Assume that all merchandise purchases are on account. Under direct method how much cash was paid to suppliers for inventory purchases
during 2012? A) $1,005,000 B) $1,050,000 C) $ 995,000 D) $1,020,000
During September, a small roofing company purchased 500 bundles of a certain type of shingle at a price of $35 per bundle, $5 less than the standard price. Its standard quantity of this type of shingles is 550 bundles. What is the journal entry to record the purchase of materials?
A) Materials 20,000Materials Price Variance 2,500Accounts Payable 17,500 B) Materials 20,000Materials Price Variance 2,500Accounts Payable 22,500 C) Materials 17,500Materials Price Variance 2,500Accounts Payable 15,000 D) Materials 20,000Materials Price Variance 2,750Accounts Payable 17,250
You work for a levered buyout firm and are evaluating a potential buyout of Boogle Inc. Boogle's stock price is $18, and it has 3 million shares outstanding
You believe that if you buy the company and replace its dismal management team, its value will increase by 50%. You are planning on doing a levered buyout of Boogle and will offer $25 per share for control of the company. Assuming you get 50% control, what will your gain from the transaction be?
A random sample of 60 business students required an average of 50.7 minutes to complete a statistics exam. Assume that the population standard deviation to complete the exam was 10.4 minutes
The standard error of the mean for this sample is ________.A) 0.63 B) 1.07 C) 1.34 D) 2.30