Forest Agricultural Products purchased new equipment for $359,700 to process tree top oil products. Using MACRS and Tables 17-1 and 17-2 from your text, what is the accumulated depreciation at the end of year 8? (Round to the nearest dollar)
$300,745
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A company provided $12,000 of consulting services on account. The customer promises payment in 30 days. Identify the journal entry below that properly records this transaction.
A.
| Accounts Payable | 12,000 | |
| Consulting Services Revenue | 12,000 |
B.
| Accounts Receivable | 12,000 | |
| Consulting Services Revenue | 12,000 |
C.
| Accounts Payable | 12,000 | |
| Cash | 12,000 |
D.
| Consulting Services Revenue | 12,000 | |
| Cash | 12,000 |
E.
| Cash | 12,000 | |
| Consulting Services Revenue | 12,000 |
Productivity is measured by the
a. total quantity of output generated from a limited amount of input during a time period. b. quantity of good output generated from the quantity of good input used during a time period. c. quantity of good output generated from a specific amount of input during a time period. d. Total quality of input used to generate total quantity of output for a time period.
Joe's Coffee House Joe's Coffee House has the following information available for the month of July: Sales (2,500 cups) $7,500 Variable costs 3,250 Fixed costs 4,000 Net operating income $ 250 Refer to the Joe's Coffee House information above. Each additional cup of coffee sold will increase net operating income by:
A) $1.70. B) $3.00. C) $1.00. D) $0.57.
Fun Time Inc. uses the same property and equipment to provide skiing services for 6 months during the winter and mountain roller boarding for 6 months during the summer. Monthly revenue and cost figures during the summer and winter months for Fun Time are shown below. Fun Time's $1000 monthly fixed costs will be incurred as long as it remains in business. Winter Months Summer Months
Total revenue $10,000 $4,000 Operating (variable) costs $6000 $4,600 Fixed costs $1000 $1000 Net Revenue $3000 -$1600 Which of the following should Fun Time do if it wants to maximize its profit?