You are considering buying a Freakin' Fried Chicken franchise. What should you do before proceeding in order to protect your interest?
A) Obtain the names of other franchisees and speak to them.
B) Check with your local business organization or provincial corporate affairs department to see if there have been complains about his franchisor.
C) Retain a lawyer and an accountant
D) Make sure that any deposit paid is held in trust.
E) All of the above
E
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When no-par common stock with a stated value is issued for cash, the common stock account is credited for an amount equal to the cash proceeds
a. True b. False Indicate whether the statement is true or false
A major advantage of the weighted average method of inventory costing is that
a. Cost flows correspond with the physical flow of merchandise. b. It is relatively easy to apply. c. It matches current costs with revenues. d. Recent costs are assigned to the ending inventory balance.
In the VALS framework, consumers who spend much of their income on fashion, entertainment, socializing, offerings that make them look good, and have a desire for the latest things are called
A. Strivers. B. Makers. C. Experiencers. D. Believers. E. Thinkers.
Journalize the following transactions for Malone Custom Furniture Manufacturing
a. Incurred and paid advertising expenses, $3,500. b. Incurred manufacturing wages of $30,000, 60% of which was direct labor and 40% of which was indirect labor. c. Purchased raw materials on account, $27,000. d. Used in production: direct materials, $12,000; indirect materials,$5,500 e. Recorded manufacturing overhead: depreciation on plant, $14,000; plant insurance (previously paid), $1,800; plant property tax, $4,500 (credit Property Tax Payable). f. Allocated manufacturing overhead to jobs, 150% of direct labor costs. g. Completed production on jobs with costs of $55,000. h. Sold inventory on account, $64,000; cost of goods sold, $35,000. i. Adjusted for overallocated or underallocated overhead. What will be an ideal response