Crimson Corp constructed equipment to manufacture a new line of home products during 2015 . The average balance of accumulated expenditures on the equipment during September through December 2015 was $500,000 . Construction started on September 1, 2015 and was still in progress at the end of 2015 . If Crimson borrowed $500,000 for one year on September 1, 2015, to finance the construction, and
the interest rate on the construction loan was 6%, how much interest can Crimson capitalize as part of the equipment cost for 2015?
a. $ -0-
b. $10,000
c. $20,000
d. $30,000
b
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Julie Webb, CPA takes out an automobile loan with First National Bank of Wellville (FNBW) while attending the University of Wellville. Julie graduates one year later and is hired as an auditor by Best and Driftwood, LLP. Her first assigned audit engagement is with First National Bank of Wellville, a client of Best and Driftwood. As a new audit assistant, Julie continues to pay her automobile loan
payments each month. Which of the following best describes Julie's independence status? a. Impaired because Julie has a direct financial interest in FNBW. b. Impaired because Julie has a material indirect financial interest in FNBW. c. Not impaired because Julie has an immaterial indirect financial interest in FNBW. d. Not impaired because Julie is permitted to take normal loans from FNBW.
A buyer who has rightfully rejected or justifiably revoked acceptance of goods that remain in her possession or control has a security interest in these goods to the extent any payment of the price has been made
Indicate whether the statement is true or false
To avoid the problem of not having access to tables of the F distribution with values given for the lower tail when a two-tailed test is required, let the smaller sample variance be _____
a. the denominator of the test statistic b. the numerator of the test statistic c. at least 1 d. None of the answers is correct.
There are several general service characteristics which favor the trucking industry. Name and discuss at least three