The Retained Earnings account balance for a large corporation is $10,000,000 . This amount represents
a. earnings that have not been distributed to shareholders.
b. cash in the bank.
c. the amount of cash available for dividends.
d. revenues for all past years of operations.
a
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The journal entry to issue indirect materials to production should include a debit to the ________.
A) Finished Goods Inventory account B) Raw Materials Inventory account C) Manufacturing Overhead account D) Work-in-Process Inventory account
Which of the following is an advantage of financial statement analysis using percentages?
a. Percentages eliminate the effect of size. b. Percentages are easy to calculate. c. Percentages are more accurate than amounts. d. Both a and c answers are correct. e. None of the answers are correct.
Wilson Custom Cabinetry makes cabinets to order and prices the completed jobs at product cost plus 40%. Recently, Wilson finished a job and billed the customer $560. If direct materials for the job cost $130, and direct labor cost $180, what was the applied overhead for the job?
A) $250 B) $179 C) $350 D) $400 E) $90
The view that businesses are a social and legal construct and not purely private institutions is consistent with:
A. Social movement unionism. B. The shareholder model of corporate governance. C. The corporate social responsibility perspective. D. Profit maximization as the only true business concern.