Owner's equity is:
A. the revenues less the expenses.
B. the amount taken out of a business by the owner for personal use.
C. the amount the owner owes the business.
D. the financial interest of the owner of a business.
Answer: D
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Hensley Painting Company painted four houses in June at $500 each. At the end of June, three homeowners had paid Hensley cash for the jobs. Under the accrual basis, what amounts will be reported on the income statement and the statement of cash flows for June? Income Statement Statement of Cash Flows
a. $2,000 $2,000 b. $2,000 $1,500 c. $1,500 $1,500 d. $ 500 $ 500
How is the expected value of perfect information (EVPI) found?
What will be an ideal response?
Q-dot Manufacturing uses a predetermined overhead allocation rate based on direct labor hours
It has provided the following information for the year: Manufacturing overhead costs allocated to production $189,000 Actual direct materials cost $540,000 Actual direct labor cost $2,450,000 Actual direct labor hours 9,400 direct labor hours Estimated machine hours 180,000 machine hours Based on the above information, calculate Q-dot's predetermined overhead allocation rate. (Round your answer to two decimal places.) A) $1.05 per machine hour B) 7.71% of direct labor cost C) 35.00% of direct materials cost D) $20.11 per direct labor hour
To be negotiable, an instrument must have conditional promises attached to it.
Answer the following statement true (T) or false (F)