During 2012, the accounts payable balance of Bombay Corporation decreased. From the statement of cash flows the financial reader would most likely conclude which of the following?
A) This decrease indicates that Bombay's sales increased compared to the previous period.
B) This decrease is added to net income in the operating activities section of a statement of cash flows prepared under the indirect method.
C) This decrease is deducted from the investing activities section of a statement of cash flows prepared under the indirect method.
D) This decrease indicates that Bombay paid more during the period than it recognized as credit purchases.
D
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Green Company reports depreciation expense of $35,000 for Year 2. Also, equipment costing $140,000 was sold for a $5,000 gain in Year 2. The following selected information is available for Green Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.At December 31Year 2Year 1Equipment$610,000 $750,000 Accumulated Depreciation-Equipment 428,000 500,000
A. $38,000. B. $35,000. C. $23,000. D. $67,000. E. $40,000.
Which ERG theory need is similar to Maslow’s physiological and safety needs?
a. Existence needs b. Interconnectedness needs c. Relatedness needs d. Growth needs
Your Best Advisors, a service company, uses reversing entries
On March 31, 2016, they journalized and posted the following adjusting entry to accrue Utilities Expense: Utilities Expense 400 Utilities Payable 400 Which of the following entries is the correct reversing entry to be prepared on April 1, 2016? A) Utilities Payable 400 Utilities Expense 400 B) Utilities Expense 400 Income Summary 400 C) Cash 400 Utilities Expense 400 D) Utilities Expense 400 Accounts Receivable 400
A bond, which guarantees the performance of the terms of a contract, is a(n):
a. judicial bond. b. official bond. c. performance bond. d. fidelity bond.