Once you post the transaction to the general ledger, you must go back to the general journal and fill in:
A) the date.
B) the amount debited or credited.
C) the posting reference column with the account number of the posting.
D) the account name that was involved in the transaction.
C) the posting reference column with the account number of the posting.
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Sky Company collected $12,350 in interest during 2013 . Sky showed $1,850 in interest receivable on its December 31 . 2013 . balance sheet and $5,300 on December 31 . 2012 . The interest revenue on the income statement for 2013 was
a. $3,450. b. $8,900. c. $12,350. d. $14,200.
The right to be safe, to be informed, to be heard, and to choose freely are the major components of the ________
A) Truth in Lending Act B) Child Protection Act C) Federal Trade Commission Act D) Robinson-Patman Act E) Consumer Bill of Rights
Which of the following statements about a company's operating cycle is not true:
A. For a merchandiser selling products, the operating cycle is the time span between paying suppliers for merchandise and receiving cash from customers. B. Non-current items are those expected to come due within one year or the company's operating cycle. C. Most operating cycles are less than one year. D. The operating cycle is the time span from when cash is used to acquire goods and services until cash is received from the sale of goods and services. E. The length of a company's operating cycle depends on its activities.
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $39,590 per month plus $2,649 per flight plus $4 per passenger. The company expected its activity in August to be 82 flights and 294 passengers, but the actual activity was 85 flights and 297 passengers. The actual cost for plane operating costs in August was $255,690.The spending variance for plane operating costs in August would be closest to:
A. $10,253 F B. $2,294 U C. $2,294 F D. $10,253 U