Email is typically the most effective channel for communicating negative organizational news
Indicate whether the statement is true or false
F
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Merry Company uses the cash basis of accounting. Merry Company made $600,000 in payments to its suppliers during the year. Merry's beginning inventory was $20,000, and its ending inventory was $35,000. In addition, Merry had a beginning accounts payable of $40,000 and an ending accounts payable of $70,000. What is Merry's cost of goods sold under the accrual basis of accounting?
A) $585,000 B) $600,000 C) $615,000 D) $625,000
A company is planning to purchase a machine that will cost $24,000 with a six-year life and no salvage value. The company uses straight-line depreciation. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine? Sales $90,000 Costs: Manufacturing$52,000 Depreciation on machine 4,000 Selling and administrative expenses 30,000 (86,000) Income before taxes $4,000 Income tax (50%) (2,000) Net income $2,000
A. 8.3%. B. 33.3%. C. 16.7%. D. 4%. E. 50.0%.
The United States Supreme Court can review any case decided by any of the federal courts of appeals
Indicate whether the statement is true or false
A person who dies without a will is said to have died
a. per stirpes. b. per capita. c. testate. d. intestate.