The Family and Medical Leave Act applies to:
a. private sector employers with twenty or more employees.
b. private sector employers with fifty or more employees.
c. public and private sector employees with fifty or more employees.
d. public and private sector employees with twenty or more employees.
b
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Which of the following is true for accounting for a troubled debt restructuring by a modification of terms by the debtor?
A) ?If undiscounted cash flows after restructuring are greater than carrying value of the debt before restructuring, recognize a gain. B) ?If undiscouraged cash flows after restructuring are greater than carrying value of the debt before restructuring, recognize no gain and impute new interest rate. C) ?If present value of cash flows after restructuring is greater than carrying value of the debt before restructuring, recognize a gain. D) ?If undiscouraged cash flows after restructuring are less than carrying value of the debt before restructuring, recognize NO gain and impute new interest rate.
Which of the following types of product costs appear in the financial statements?
A) Predetermined overhead costs B) Estimated costs C) Standard costs D) Actual costs
Portside Watercraft uses a job order costing system. During one month Portside purchased $153,000 of raw materials on credit; issued materials to production of $164,000, of which $24,000 were indirect. Portside incurred a factory payroll cost of $95,000, of which $25,000 was indirect labor. Portside uses a predetermined overhead rate of 170% of direct labor cost. The journal entry to record the application of factory overhead to production is:
A. Debit Work in Process Inventory $161,500; credit Factory Overhead $161,500. B. Debit Work in Process Inventory $95,000; credit Factory Payroll $95,000. C. Debit Work in Process Inventory $119,000; credit Factory Overhead $119,000. D. Debit Work in Process Inventory $55,800; credit Factory Overhead $55,800. E. Debit Factory Overhead $119,000; credit Work in Process Inventory $119,000.
Total depreciation expense over an asset's useful life will be identical under all methods of depreciation.
Answer the following statement true (T) or false (F)