Wuensch Inc., an escrow agent, has provided the following data concerning its office expenses: Escrows Completed Office ExpensesApril53 $7,427May94 $9,201June37 $6,769July87 $8,902August40 $6,875September38 $6,797October82 $8,681November35 $6,678December62 $7,836 Management believes that office expense is a mixed cost that depends on the number of escrows completed. Note: Real estate purchases usually involve the services of an escrow agent that holds funds and prepares documents to complete the transaction.Using the high-low method, the estimate of the variable component of office expense per escrow completed is closest to:
A. $131.00
B. $88.22
C. $42.76
D. $45.44
Answer: C
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Preston Office Furniture uses the periodic inventory system and the gross method of accounting for sales. It had the following transactions during the month of May: May 3Sold merchandise to a customer on credit for $600, terms 2/10, n/30. The cost of the merchandise sold was $350.May 4Sold merchandise to a customer for cash of $425. The cost of the merchandise was $250.May 6Sold merchandise to a customer on credit for $1,300, terms 2/10, n/30. The cost of the merchandise sold was $750.May 8The customer from May 3 returned merchandise with a selling price of $100. The cost of the merchandise returned was $55.May 15The customer from May 6 paid the full amount due, less any appropriate discounts earned.May 31The customer from May 3 paid the full amount due, less any appropriate
discounts earned.Prepare the required journal entries that Preston Office Furniture must make to record these transactions. What will be an ideal response?
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.
Lethabo is the marketing manager at BlueSky Concepts, an management consulting firm. His calendar is filled with meetings with heads of the companies, interviewing new employees, giving interviews to business magazines, attending presentations and seminars in different countries, and the like. Lethabo feels that every workday he has something different to do, and he is rarely bored with his job. According to the job characteristics theory, which of the following is true about Jon's job?
A. It has high variety. B. It has high identity. C. It has high moral significance. D. It has low autonomy. E. It has low labor equity.
An S corporation earns $6.00 per share before taxes. The corporate tax rate is 35%, the personal tax rate on dividends is 20%, and the personal tax rate on non-dividend income is 39%
What is the total amount of taxes paid if the company pays a $2.00 dividend? A) $1.87 B) $2.81 C) $3.28 D) $2.34