For each of the following expenditures, indicate whether the amount is debited to an asset account or to an expense account.
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Yellow Dog Transit sold an old truck on December 31, 2016, for $18,400 cash. The following data was available when the truck sold: Acquisition cost $75,000 Estimated residual value at time of acquisition 8,000 Accumulated depreciation on December 31, 2016 after adjustment 53,600 When this transaction is recorded, it should include a(n)
a. Loss on Disposal account for $3,000 b. Decrease of $21,400 to the Truck account c. Gain on Disposal account for $3,000 d. Gain on Disposal account for $5,000
After computing averages and measures of dispersion for the major variables and applying advanced statistical techniques and decision models in the hope of discovering additional findings from the gathered information, the researchers ________
A) define the problem, the decision alternatives, and the research objectives B) present findings relevant to the major marketing decisions facing management C) evaluate the costs associated with data collected D) analyze the appropriateness of the data sources used E) develop the research plan
Depreciation expense is recorded in a ________.
A) cash payments journal B) sales journal C) cash receipts journal D) general journal
To ensure a report is ethical, how should information be gathered?
A) By using references from Wikipedia B) Through surveys C) By using reputable sources D) Using personal interviews E) At the library