Employment of administrative managers is expected to grow about as fast as the average for all occupations through 2010
Indicate whether the statement is true or false
T
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Hill Company entered into the following inventory transactions with its investees during 2018: Sold inventory to Grant Inc. for $150,000. The inventory originally cost Hill $120,000. Grant sold 75% of the inventory during 2018. Hill owns 15% of the voting stock of Grant and does not use the equity method to account for the Grant investment. Sold inventory to Thornton Inc. for $400,000. The inventory originally cost Hill $320,000. Thornton sold all of this inventory during 2018. Hill owns 100% of the voting stock of Thornton. Which of the following adjustments is correct with respect to preparing Hill's 2018 consolidated financial statements?
A. Cost of goods sold will be decreased $338,000. B. Sales will be decreased $400,000. C. Inventory will be decreased $40,000. D. Gross profit will be decreased $110,000.
Mellon Corporation The data presented below is for Mellon Corporation for the year ended December 31, 2016: Sales (100% on credit) $1,500,000 Sales returns 60,000 Accounts Receivable (December 31, 2016) 250,000 Allowance for Doubtful Accounts [Credit Balance] (Before adjustment at December 31, 2016 3,000 Estimated amount of uncollectible accounts based on an aging analysis 31,000 Refer to the
data for Mellon Corporation. If Mellon estimates its bad debts at 2% of net credit sales, what amount will be reported as bad debt expense for 2016? a. $25,800 b. $27,000 c. $28,800 d. $30,000
On June 1 . 2014, Revere Corporation declared a stock dividend entitling its stockholders to one additional share for each share held. At the time the dividend was declared, the market value of the stock was $10 per share and the par value was $5 per share. On this date Revere had 1,000,000 shares of common stock authorized of which 500,000 shares were outstanding. Assuming the par value of the
stock was NOT changed, what entry should Revere make to record this transaction? a. Retained Earnings ............. 5,000,000 Common Stock Dividend Distributable 2,500,000 Capital in Excess of Par..... 2,500,000 b. Stock Dividend Payable ........ 5,000,000 Common Stock Dividend Distributable. 2,500,000 Capital in Excess of Par..... 2,500,000 c. Retained Earnings.............. 2,500,000 Common Stock Dividend Distributable 2,500,000 d. No entry
Which performance plan best promotes quality of the product or service?
a. piece rate b. health insurance c. pensions d. profit sharing