Spicy & Hot, Inc is interested in expanding its Mexican food restaurant into a Mexican food catering business. Spicy & Hot, Inc buys a new delivery van from Van World. Spicy & Hot, Inc is a buyer in the ordinary course of business when purchasing the van
a. True
b. False
Indicate whether the statement is true or false
True
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Gemini Company has the following accounts in the Stockholders' Equity category of the balance sheet: Common Stock, $10 no par, 10,000 shares authorized, 9,000 issued, 8,000 outstanding Preferred Stock, $100 par, 8%, cumulative, participating, 1,000
shares authorized, issued, and outstanding Required: 1 . Explain how the issuance of stock affects the financial statements when the stock has no par value. 2 . Why would preferred stockholders want to have a cumulative feature in preferred stock? 3 . When a participating feature is present in preferred stock, how does it affect the amount of dividends that preferred stockholders can expect to receive?
Compared to the collection cost of primary data, secondary data is ________
A) more expensive B) approximately the same cost C) less expensive D) nonexistent E) more elusive
A decentralized organization is one in which:
A) each employee in the organization is given permission to make decisions about their company. B) only top-level management is given decision-making authority. C) managers at various levels throughout the organization are given decision-making authority. D) each stockholder is given decision-making authority.
Beans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on total fixed manufacturing overhead cost of $162,000, variable manufacturing overhead of $2.80 per direct labor-hour, and 60,000 direct labor-hours. Recently, Job K818 was completed with the following characteristics:Number of units in the job10Total direct labor-hours50Direct materials$920Direct labor cost$1,400The amount of overhead applied to Job K818 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $275 B. $415 C. $135 D. $140