Suppose the manufacturer pays a commission on every car sold. Then, the salesperson's commission is classified as a(n) ________
A) cost of labor
B) traceable common cost
C) non-traceable common cost
D) advertising cost
E) direct cost
E
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Use the following data to answer the question presented below for Raines Corp's preparation of a bank reconciliation on October 31, 2014: Bank statement balance $30,700 Raines' book balance (before adjustments) ? Outstanding checks 4,200 NSF checks 400 Service charges 300 Deposits in transit 3,100 Interest earned on checking account 100 What is the net amount of the increase or decrease in
Raines' cash balance which must be recorded as a result of the adjustments identified by the bank reconciliation? a. $100 decrease b. $300 decrease c. $400 decrease d. $600 decrease
They agreed to admit Ramelow into the business for a one-fifth interest in the new partnership. Ramelow contributes $27,000 cash in exchange for the partnership interest. Assume that Floyd and Merriam shared profits and losses in a 3:1 ratio before the admission of Ramelow. Which of the following is the correct journal entry to record the above admission?
Floyd and Merriam start a partnership business on June 12, 2019. Their capital account balances as of December 31, 2020 stood as follows:
Which of the following aspects of culture is most difficult to change?
a. Cultural artifacts b. Espoused beliefs and values c. Underlying assumptions d. How people relate to one another
Production equipment that cost $20,000, with a salvage value of $5,000 and an estimated service life of five years, was purchased on the first day of the first month of the fiscal year. The second year of depreciation, using the declining-balance method, would result in depreciation expense of:
a. $4,000 b. $8,000 c. $3,600 d. $2,400 e. none of the above.