Provide journal entries to close the Income Summary account and the Dividends account. Omit explanations.
An adjusted trial balance for a merchandiser is given below.
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StatPro Corporation is a manufacturer of a versatile statistical calculator. The following information is a summary of defective and returned units for the previous year. Total defective units 1,000 Number of units reworked 750 Number of customer units returned 150 Profit for a good unit $40 Profit for a defective unit $25 Cost to rework a defective unit $10 Cost of a returned unit $15 Total
prevention cost $10,000 Total appraisal cost $5,000 Refer to StatPro Corporation. The profit lost by selling defective units not reworked is a. $25,000. b. $15,000. c. $18,750. d. $3,750.
Peterson Inc has the following information available regarding one of the projects it is considering: Initial investment $75,000 PV of cash inflows $100,000 Internal rate of return 15% The profitability index of this project is:
A) 1.33. B) 0.75. C) 0.15. D) 0.33.
Which of the following is most likely to result in unfavorable public relations?
A. Congratulating someone for a special achievement B. Inviting someone to a highly-acclaimed art show and not letting them pay C. Thanking someone for his or her business D. Informing a customer that his or her claim is nonallowable
Indorsers and drawers are the parties whose liability on negotiable instruments is ordinarily primary
Indicate whether the statement is true or false