When a company sells machinery at a price equal to its book value, this transaction would be recorded with an entry that would include the following:
A) debit Cash and Accumulated Depreciation; credit Machinery
B) debit Machinery; credit Cash and Accumulated Depreciation
C) debit Cash and Machinery; credit Accumulated Depreciation
D) debit Cash and Depreciation Expense; credit Accumulated Depreciation
A
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Tongass had pretax accounting income of $1,400 during 2014 . Tongass used accelerated depreciation for tax purposes ($1,000) and straight-line depreciation for financial reporting purposes ($200). During 2014, Tongass accrued warranty expenses of $900 and paid cash to honor warranties of $500 . Tongass's taxable income for 2014 would be
a. $200. b. $1,000. c. $1,800. d. $2,600.
Jenny is working on her sales strategy for a mid-sized town in her territory
One of her ideas is to stretch out of the traditional prospect pool of traveling performers, who are not headquartered in the Upper Midwest, and open up new markets with corporations that need customized buses for executives. This thinking process Jenny is participating in is called: A) the value proposition B) the marketing mix C) presentation strategy D) strategic planning E) optimization
The Uniform Commercial Code provides that, under certain circumstances, a merchant may be liable on a written contract, even though that merchant has NOT signed it
a. True b. False Indicate whether the statement is true or false
Which of the following is true of social entrepreneurship?
A. It creates organizations which are usually financially dependent on other firms. B. It usually has a lot of funding. C. It cannot be initiated by a for-profit company. D. It does not include innovation as a key element.