Which of the following inventory costing methods yields the lowest cost of goods sold during a period of rising inventory costs?
A) specific identification
B) weighted-average
C) last-in, first-out
D) first-in, first-out
D) first-in, first-out
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Mays Company sold a machine for $10,000 cash. The machine originally cost $65,000 and the company had recognized $53,000 in depreciation over the life of the machine. What is the effect of this sale on Mays Company's income statement and its statement of cash flows?
Answer the following statements true (T) or false (F)
1. The Sherman Antitrust Act of 1890 was often used against unions by treating them as a monopoly when they tried to exert pressure on an employer using tactics such as boycotts and strikes. 2. During the early 1900's, unions were viewed by the law as voluntary organizations of individuals and, since U.S. law valued individual liberty and freedom above all else, unions and workers were allowed relative freedom to use whatever means they could to protect their wages and working conditions. 3. A key underlying concern regarding the use of the injunction against unions was its limiting influence on free speech. 4. The Norris-LaGuardia Act of 1932 sought to remedy the imbalance between an employer and an individual worker by limiting the role of the courts in labor-management relations. 5. Under the Norris-LaGuardia Act of 1932, courts were explicitly prohibited from interfering with peaceful union activities, yellow dog contracts became unenforceable, and the conspiracy doctrine was effectively overturned.
Sweet Company's outstanding stock consists of 1400 shares of cumulative 6% preferred stock with a $100 par value and 10,400 shares of common stock with a $10 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividend Declaredyear 1$2400?year 2$6400?year 3$34,000?The amount of dividends paid to preferred and common shareholders in year 3 is:
A. $16,400 preferred; $17,600 common. B. $34,000 preferred; $0 common. C. $8400 preferred; $25,600 common. D. $0 preferred; $34,000 common. E. $25,200 preferred; $8800 common.
A balanced scorecard consists of a report showing a performance measure such as ROI or residual income for all of the divisions in a company that generate profits.
Answer the following statement true (T) or false (F)