Which of the following elects members of the board of directors for a corporation?
A) the CEO
B) corporate officers
C) shareholders
D) employees
C
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Doran Systems Corp has grown significantly over the past year. One area that has plagued the Controller of Doran is the reconciliation of supplies expense. The end-of-year supplies on hand totaled $20, and purchases totaled $500, and supplies on hand at the beginning of the year amounted to $200 . How much will Doran Systems report as supplies expense for the current year?
a. $ 200 b. $ 680 c. $ 220 d. $ 700
Computer-based queries of accounting and other data bases are utilized in which of the following investigation methods?
a. theft b. conversion c. concealment d. inquiry
Fisher Company has 1,000,000 share of common stock with a par value of $10 . Additional paid-in capital totals $10,000,000 and retained earnings is $12,000,000 . The directors declare a 6% stock dividend when the market value is $5 . The reduction of retained earnings as a result of the declaration will be:
a. $0. b. $300,000. c. $600,000. d. $500,000. e. None of the answers are correct.
A company had the following purchases and sales during its first year of operations: PurchasesSalesJanuary:10 units at $1206 unitsFebruary:20 units at $1255 unitsMay:15 units at $1309 unitsSeptember:12 units at $1358 unitsNovember:10 units at $14013 unitsOn December 31, there were 26 units remaining in ending inventory. Using the perpetual LIFO inventory costing method, what is the value of cost of goods sold? (Assume all sales were made on the last day of the month.)
A. $8,670. B. $5,400. C. $5,470. D. $5,305. E. $5,130.