Carver Corporation uses the FIFO method in its process costing system. The Assembly Department started the month with 2,000 units in its beginning work in process inventory that were 60% complete with respect to conversion costs. An additional 66,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 9,000 units in the ending work in process inventory of the Assembly Department that were 50% complete with respect to conversion costs. What were the equivalent units of production for conversion costs in the Assembly Department for the month?
A. 62,300
B. 63,500
C. 73,000
D. 59,000
Answer: A
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When the market rate of interest was 12%, Halprin Corporation issued $1,000,000, 11%, 10-year bonds that payinterest annually. The selling price of this bond issue was
a. $321,970 b. $1,000,000 c. $943,494 d. $621,524
Highland Company buys 70 percent of the stock of Danner Company of $91,000 . Danner Company has contributed capital of $70,000 and retained earnings of $60,000 . The consolidated financial statements would contain
a. goodwill but not minority interest. b. neither minority interest nor goodwill. c. minority interest and goodwill. d. minority interest but not goodwill.
Frank Carpenter, who runs a charity organization, has been faking his father's signature on his father's personal checks and writing them in favor of the charity as donations. He gets hold of the checks from his father's personal assistant, Rhonda Mason, who is also Frank's friend and the charity's trustee. After faking the signature, Frank gives the checks to Rhonda to deposit in the bank. But unbeknownst to Frank, Rhonda routes some of the check money into her own savings account. Frank's father, Dawson, realizes that money is being withdrawn from his account without his consent. He suspects his estranged son, Frank, and in order to find out if Frank is involved, Dawson secretly offers money to the financial accountant of the charity to divulge the charity organization's financial
dealings. The accountant accepts the money and gives access to the account books. After scrutinizing the financial records, Dawson realizes that Frank has been swindling him of his money, and the charity itself was being swindled by somebody from within. With this information, Dawson proceeds to file a suit against his son. In the above scenario, which criminal activity is Frank engaging in when faking his father's signature? A. embezzlement B. forgery C. bribery D. extortion
Yankee bonds are issued by the U.S. government, but sold only to foreign investors
Indicate whether the statement is true or false.