Motivational elements may be quantitative or non-quantitative in nature
Indicate whether the statement is true or false
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Might-E Mart LLC was formed in New Jersey. Might-E Mart's members are Oscar, who is a citizen of New Jersey, and Peri, who is a citizen of New York. For federal diversity jurisdictional purposes, Might-E is a citizen of
A. all states. B. New Jersey and New York. C. New Jersey only. D. no state.
Virginia Corp. owned all of the voting common stock of Stateside Co. Both companies use the perpetual inventory method, and Virginia decided to use the partial equity method to account for this investment. During 2017, Virginia made cash sales of $400,000 to Stateside. The gross profit rate was 30% of the selling price. By the end of 2017, Stateside had sold 75% of the goods to outside parties for $420,000 cash.Prepare the consolidation entries that should be made at the end of 2017.
What will be an ideal response?
Cost A is a fixed cost, while B is a variable cost. During the current year, the volume of output has decreased. In terms of cost per unit of output, we would expect that:
A. cost B has decreased. B. cost B has remained unchanged. C. cost A has remained unchanged. D. cost A has decreased.
On April 1, Santa Fe, Inc. paid Griffith Publishing Company $1,548 for 36-month subscriptions to several different magazines. Santa Fe debited the prepayment to a Prepaid Subscriptions account, and the subscriptions started immediately. What amount should appear in the Prepaid Subscription account for Santa Fe, Inc. after adjustments on December 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?
A) $1,548. B) $387. C) $516. D) $1,161. E) $0.