Budgets facilitate congruence between organizational and personal goals
Indicate whether the statement is true or false
True
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A corporation sold 16,500 shares of its $10 par value common stock at a cash price of $13 per share. The entry to record this transaction would include:
A. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $214,500. B. A debit to Cash for $165,000. C. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $379,500. D. A credit to Common Stock for $214,500. E. A credit to Common Stock for $165,000.
Answer the following statements true (T) or false (F)
1. The total change in cash should equal the net income for the period. 2. For the year ended December 31, 2019, the Statement of Cash Flows for Mississippi Family Auto Supply shows the following information: Net Cash Used by Operating Activities, $(74,000); Net Cash Provided by Investing Activities, $49,000; and Net Cash Provided by Financing Activities, $45,000. Cash has increased by $168,000. 3. The third section presented on the statement of cash flows is the non-cash operating activities section. 4. A debtor of Adams Company owes $500,000 but does not have enough cash to repay the debt. Following lengthy negotiations, the parties agreed that the debtor will issue 200,000 shares of common stock to settle the debt. This transaction will be reported in the investing activities section of the statement of cash flows for Adams Company.
Motor Corp., an automobile manufacturer, launched an ad campaign that stated, "We are yet to reach the industry leader's position, so we try harder." In this scenario, the company is positioning itself based on
A. use or application. B. price/quality. C. distribution intensity. D. product class. E. competition.
Wofril Corporation uses the cost formula Y = $5,300 + $0.60X for the maintenance cost, where X is machine-hours. The August budget is based on 8,000 hours of planned machine time. Maintenance cost expected to be incurred during August is:
A. $500 B. $10,100 C. $5,300 D. $4,800