Lighting Company sold an old machine on December 31, 2011, for $22,000 cash. The following data was available when the truck sold: Acquisition cost $100,000 Estimated salvage value at time of acquisition 8,000 Accumulated depreciation on December 31, 2011, after adjustment 85,000 When this transaction is recorded, it should include:
A) debit of $7,000 to the loss on disposal account.
B) credit of $22,000 to the truck account.
C) credit of $7,000 to the gain on disposal account.
D) credit of $15,000 to the gain on disposal account.
C
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. _________________________ are cash and other assets that are reasonably expected to be converted to cash during the normal operating cycle of the business
Fill in the blank(s) with correct word
The data below is for Benton Corporation for 2016. Accounts Receivable—January 1, 2016 $334,000 Credit sales during 2016 850,000 Collections from credit customers during 2016 725,000 Customer accounts written off as uncollectible during 2016 12,000 Allowance for Doubtful Accounts [Credit Balance] (After write-off of uncollectible accounts) 1,700 Estimated uncollectible accounts based on an
aging analysis 13,200 Refer to the data for Benton Corporation. If the aging approach is used to estimate bad debts, what should the balance in the Allowance for Doubtful Accounts be after the bad debts adjustment? a. $26,900 b. $14,900 c. $13,200 d. $11,500
Answer the following statements true (T) or false (F)
1. The application to management of techniques such as statistics and computer simulations is known as quantitative management. 2. Oscar is a manager of a downtown hotel and is currently considering the pricing of rooms for the upcoming holiday season. He would be wise to use the mathematical tools of management science to help him with this decision. 3. Facilities management is concerned with work scheduling, productions planning, and optimal levels of inventory. 4. Over the years, Toyota has used a variety of operations management-based "lean management" techniques to sell its cars on the basis of superior quality.
Companies that sell online maintain large warehouses and pay for picking, packing, and shipping, three activities known as _____.
A. auctioning B. pure play C. profiling D. fulfillment