The following information is needed to reconcile the cash balance for Natural Landscaping Services.
* A deposit of $5,800 is in transit.
* Outstanding checks total $1,500.
* The book balance is $6,800 at February 28, 2019.
* The bookkeeper recorded a $1,740 check as $17,400 in payment of the current month's rent.
* The bank balance at February 28, 2019 was $18,000.
* A deposit of $400 was credited by the bank for $4,000.
* A customer's check for $3,700 was returned for nonsufficient funds.
* The bank service charge is $60.
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Reporting inventory at the lower of cost or market provides a representationally faithful value of inventory; therefore, the application of the lower of cost or market rule is consistent with the materiality principle
Indicate whether the statement is true or false
Consolidated financial statements are typically prepared when one company has
a. accounted for its investment in another company by the equity method. b. significant influence over the operating and financial policies of another company. c. the controlling financial interest in another company. d. a substantial equity interest in the net assets of another company.
Which type of incentive program is easier to develop?
A. Individual incentive B. Variable incentive C. Group incentive D. Combination incentive E. Executive incentive
Exhibit 16-1The Zeller Corporation's stockholders' equity accounts have the following balances as of December 31, 2016: Common stock, $10 par (30,000 shares issued and outstanding)$ 300,000 Additional paid-in capital2,000,000 Retained earnings 5,700,000 Total stockholders' equity$8,000,000 ? Refer to Exhibit 16-1. On January 2, 2017, the board of directors of Zeller declared a 5% stock dividend to be distributed on January 31, 2017. The market price per share of Zeller's common stock was $30 on January 2 and $32 on January 31. As a result of this stock dividend, the retained earnings account should be decreased by
A. zero; only a memorandum entry is required. B. $15,000. C. $45,000. D. $48,000.