Bing's Export Co purchased a new delivery truck at the beginning of 2015 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2015 . The truck was driven 20,000 miles during 2015 and 24,000 miles during 2016 . The number of expected miles over five years is 100,000. Refer to information
about Bing's Export Co Bing's Export Co wants to use the depreciation method that will result in the highest depreciation expense for 2015 . Which method should be used?
a. straight-line
b. units-of-production
c. double-declining-balance
d. all methods create the same income in 2015
c
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A company uses the perpetual inventory system and recorded the following entry:Accounts Payable2,500 Merchandise Inventory 50Cash 2,450This entry reflects a:
A. Purchase of merchandise on credit. B. Payment of the account payable less a 1% cash discount taken. C. Return of merchandise. D. Sale of merchandise on credit. E. Payment of the account payable less a 2% cash discount taken.
If a firm does not meet its forecasted sales level, leverage will result in a magnified increase in income compared to what is expected.
Answer the following statement true (T) or false (F)
Convert 27/4 to a mixed number
a. 6 1/2 b. 7 c. 6 3/4 d. 6 1/4
Alejandro hires Leona as a new sales coordinator at Rainproof Outdoor Gear after the previous coordinator quit unexpectedly. After she completes orientation, Alejandro needs Leona to quickly plan an upcoming sales meeting for all of the company's field sales representatives, who will be gathering at the office in a week to go over the new product line. Despite the fact that her predecessor did little planning for the meeting before she left, Leona wants to make a good impression and begins to prepare the meeting even though she has never planned one before. Three days before the meeting, Alejandro observes Leona in a conference room pacing back and forth and wearing a slightly dazed expression as she shuffles papers around on the table. It is obvious to Alejandro that she is trying to
block out meeting rooms for each sales representative group, determine the duration of each presentation, and figure out what kinds of audio-visual equipment will be needed in each room. When he asks if she needs help, Leona smiles and says, "Nope! I've got it all under control." However, Alejandro can tell she is struggling to get things right. Based on what you know about the different types of work hindrance stressors, what should Alejandro do? A. step in and plan the meeting himself to ensure that things go smoothly and productivity is not compromised B. explain to Leona the basic requirements for the meetings and provide her with the expected times and locations needed for each group presentation C. avoid interfering and let Leona continue to struggle her way through the task so that she profits from learning by doing D. take Leona off the project and give it someone with more experience in planning meetings, allowing Leona to observe and take notes E. hire a temp to cover Leona's regular duties so that she has more time to devote to planning the meetings