Which of the following subsequent expenditures would be capitalized?
A. Ordinary repair.
B. Routine maintenance.
C. Costs that increase the service life of an asset.
D. Ordinary repair and routine maintenance.
Answer: C
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High Step Shoes had annual revenues of $187,000, expenses of $104,700, and dividends of $18,800 during the current year. The retained earnings account before closing had a balance of $299,000. The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
A. Debit Income Summary $82,300; credit Retained earnings $82,300 B. Debit Retained earnings $63,500; credit Income Summary $63,500 C. Debit Retained earnings $82,300; credit Income Summary $82,300 D. Debit Income Summary $63,500; credit Retained earnings $63,500 E. Debit Retained earnings $299,000; credit Income Summary $299,000
On January 1, 2010, Zero Company obtained a $52,000, four-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, 2010. The December 31, 2011 carrying amount in the amortization table for this installment note will be equal to:
A) $26,000 B) $27,635 C) $21,642 D) $28,402
Which of the following statements about facial expressions and posture is the most accurate?
A) Most people can control their facial expressions well enough to control the nonverbal messages they send. B) Standing up straight sends a message of confidence, competence, diligence, and strength. C) Words carry more weight than facial expressions and posture. D) Leaning toward a speaker suggests confrontation.
The last step in solving a linear programming model manually with the simplex method is to convert the model into standard form
Indicate whether this statement is true or false.