Marry owns a business that has assets of $191,800 and liabilities of $161,200. What is Marry's working capital?
$30,600
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Answer the following statements true (T) or false (F)
1. A patent is an exclusive right to reproduce and sell a book, musical composition, film, other work of art, or intellectual property. 2. Goodwill is the excess cost of an acquired company over the market value of its net assets. 3. A trademark represents the exclusive right to reproduce and sell a book, musical composition, film, other work of art, or intellectual property. 4. Franchises are privileges granted by a business to sell goods and services under specified conditions. 5. All intangible assets must be amortized each year.
Start-up and organization costs should be expensed as incurred
Indicate whether the statement is true or false
JAX Inc In early 2012, JAX Inc had budgeted for the production and sales of 5,000 units at a sales price of $15 per unit. The following information is available regarding the standard cost for each unit: Direct materials: 1.50 pounds at $2.50 per lb Direct labor: 30 minutes of assembly at $.20 per minute Actual results for 2012 were determined to be as follows: Number of units produced and sold:
5,600 units Sales revenue: $100,800 ($18 per unit) Direct materials cost: $ 22,848 (9,520 lbs purchased and used at $2.40 per lb) Direct labor cost: $ 38,192 (173,600 minutes at $.22 per minute) Refer to the JAX Inc information above. What was JAX Inc's direct labor efficiency variance for 2012? A) $1,120 F B) $1,120 U C) $1,232 F D) $1,232 U
The success of a strategy depends on doing many things well and:
A) adjusting the company mission to match what you excel at. B) performing at a high level. C) doing them better than your competitors. D) integrating among them. c