Use this information pertaining to Tucson Company to answer the following question. 1. The corporation's Supplies account showed a beginning debit balance of $400 and supplies purchased of $1,600. There were $600 of supplies on hand at year end. 2.Depreciation on a building being depreciated over 5 years is estimated to be $10,000 per year. The building was purchased at the beginning of the prior
year for $50,000. 3.A one-year insurance policy was purchased for $4,800. Five months have passed since the purchase. 4.Accrued interest on a note receivable amounted to $200. 5.The company received a $3,600 advance payment during the year on services to be performed. By the end of the year, one-third of the services had been performed. Which of the following statements is correct regarding the building?
A) The adjusting entry to record depreciation will include a credit to Accumulated Depreciation - Building $10,000.
B) The book value of the building at the end of the current year is $30,000.
C) The Accumulated Depreciation - Building account will have a balance of $20,000 at the end of the current year.
D) All of these choices.
D
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Demand estimates prepared by companies are based on four different time periods
Indicate whether the statement is true or false
The following are the results of the least squares regression method which was run to separate the fixed and variable components of the Zulli Corporation's monthly factory utility costs using the number of products produced: y = 49,222.2992 + 5.09 x R2
= .97765 a) Assume Zulli budgets production of 5,400 units in June, what should budgeted utility costs be? b) Explain what R2 means. Is this equation a good predictor of utility costs?
Tiana wanted to vacation in Los Carneros and asked Cameron, her neighbor, to look after Amber, her Labrador Retriever. Cameron did not ask for a payment to take care of Amber. Before leaving, Tiana instructed Cameron on how to care for Amber, but Cameron failed to follow these instructions or take care to restrain Amber. While Tiana was in Los Carneros, Amber ran onto the street and got hit by a car. Which of the following statements is true of this situation?
A. A bailment for the sole benefit of Tiana was created, which implies that Cameron is responsible for gross negligence. B. A bailment does not exist because Cameron was not paid to look after Amber. C. A bailment was created, but Cameron had no obligation to care for Amber, since both Tiana and Cameron benefitted from the bailment. D. A bailment for the sole benefit of Cameron was created, which holds Tiana responsible.
E-mail etiquette requires
a. sending virus warnings to your friends and family. b. using the high priority feature for your messages so they are read. c. using emoticons and abbreviations. d. none of these choices.