Owners of corporations are called ____________________
Fill in the blank(s) with correct word
stockholders
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Your goal during the interview process should be
A) to get an offer. B) to find the right match for your goals and capabilities. C) to find the position that pays the most. D) to fill an available job opening. E) to look first to the largest companies for job openings, then consider smaller companies if those don't work out.
Prepaid Rent was $400 at the end of May and $650 at the end of June. Rent Expense for June was $260 . How much cash was paid for rent during June?
a. $310 b. $410 c. $510 d. $610
Firms initially record property, plant, and equipment, sometimes referred to as fixed assets, at acquisition cost, the cash paid or the fair value of other consideration given in exchange for the asset. Which of the following is/are true?
a. Acquisition cost includes all costs necessary to prepare the asset for its intended use. b. Firms capitalize into the asset's carrying amount subsequent expenditures that extend the service life or increase the benefits of a fixed asset beyond those initially anticipated. c. Buildings and equipment have a finite life, so firms must depreciate their acquisition cost less estimated salvage over the expected service life. d. Firms may use a straight-line method or accelerated depreciation methods. e. all of the above
Use the following income statement and information about selected current assets and current liabilities for Kimberline Industries to calculate the net cash provided or used by operating activities using the indirect method.KIMBERLINE INDUSTRIESIncome StatementFor Year Ended December 31Sales? $280,000Cost of goods sold? 124,000Gross profit from sales? $156,000Operating expenses:?? Salaries and wages expense $35,000? Depreciation expense 11,000? Rent expense 27,200? Interest expense 3,900 77,100Income from operations? $78,900Loss on sale of land? 4,700Net income? $74,200Increases and decreases of current asset and current liability accounts, all of which relate to operating activities, are as
follows:? ChangeAccounts receivable increase $3,600Merchandise inventory decrease 1,700Accounts payable increase 1,100Salaries and wages payable decrease 2,600 What will be an ideal response?