A company purchases 800 shares of its $50 par value common stock at $55 per share. It then reissues 120 shares at $58 per share. The entry upon reissue of the stock is :
A) Cash 6,960 Treasury Stock-Common 6,600Paid-in Capital, Treasury Stock 360
B) Cash 6,960 Treasury Stock-Common 6,960
C) Cash 6,960 Paid-in Capital, Treasury Stock 6,96
D) Cash 6,960 Treasury Stock-Common 6,000Retained Earnings 960
A
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The entry to close Cost of Goods Sold includes
a. debiting Income summary and crediting Cost of Goods Sold. b. debiting Cost of Goods Sold and crediting Income Summary. c. debiting Retained Earnings and crediting Cost of Goods Sold. d. debiting Cost of Goods Sold and crediting Retained Earnings.
When a company makes marketing decisions by considering consumers' wants and interests, the company's requirements, and society's long-run interests, it is most likely practicing ________ marketing
A) value B) societal C) sense-of-mission D) consumer-oriented E) customer value
Equipment is purchased for $60,000. It has a five-year useful life and a $10,000 residual value. Under the double-declining-balance method, what is the depreciation expense for year 3?
A) $6,400 B) $7,200 C) $7,680 D) $8,640
Chris Tellson invested in a project with a payback period of 4 years. The project brings $30,000 per year for a period of 8 years. What was the initial investment?
A) $120,000 B) $7,500 C) $75,000 D) $240,000 E) cannot be determined from this information