The net proceeds used in calculation of the cost of long-term debt are funds actually received from the sale after paying for flotation costs and taxes
Indicate whether the statement is true or false
TRUE
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A graph is considered one of which of the following?
A) illustrations B) figures C) tables D) pictures E) content
The Clarion Company provides a one-year warranty on all merchandise it sells. In Year 1, the company recorded sales of $500,000. It estimated that the warranty costs on these sales would amount to $2,000. In July of Year 2, Clarion paid $250 to satisfy a warranty claim. Indicate whether each of the following statements is true or false.________ a) Clarion's adjusting entry recording the warranty at the end of Year 1 decreased total assets and total stockholders' equity.________ b) Clarion's adjusting entry recording the warranties at the end of Year 1 increased Clarion's total liabilities.________ c) The entries, dated in July of Year 2, decreased total assets and net income for Year 2.________ d) The entries, dated in July of Year 2, decreased Clarion's total liabilities.________ e) The
adjusting entry recorded at the end of Year 1 did not affect Clarion's revenue for the year. What will be an ideal response?
The application of overhead has resulted in a $5,600 credit balance in the Factory Overhead account, and this amount is not material. The entry to dispose of this remaining factory overhead balance is:
The Marina Corp. has applied overhead to jobs during the period as follows:
A) Debit Cost of Goods Sold $5,600; credit Factory Overhead $5,600.
B) Debit Factory Overhead $5,600; credit Cost of Goods Sold $5,600.
C) Debit Factory Overhead $5,600; credit Work in Process Inventory $5,600.
D) Debit Work in Process Inventory $5,600; credit Factory Overhead $5,600.
E) No entry is needed.
Answer the following statement(s) true (T) or false (F)
1. The functions of supervision include planning, organizing, staffing, leading, and controlling. 2. If an operative employee has good technical skills and a good work record, he or she is sure to be a good supervisor. 3. Planning generally involves two basic steps: determining the organization's objectives and the most effective way of attaining the objectives. 4. Staffing involves distributing the work among the employees in the work group. 5. Organizing determines how well the work is being done compared with what was planned.