How is treasury stock shown on the balance sheet?
a. as an asset
b. as a decrease in stockholders' equity
c. as an increase in stockholders' equity
d. treasury stock is not shown on the balance sheet
b
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________ pricing is one of the most commonly used pricing tactics, largely because it is easy, but it is not very effective at maximizing profits.
What will be an ideal response?
The debt to equity ratio of four companies is given below
Debt to equity ratio Lewis, Inc 1.30 Jackson, Inc 1.50 Jones Corp 0.88 Roberts Corp 0.92 Based on the debt to equity ratio, which of the following companies has the least financial risk? A) Lewis, Inc. B) Jackson, Inc. C) Jones Corp. D) Roberts Corp.
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on account$475,000Raw materials (all direct) requisitioned for use in production$476,000Direct labor cost$640,000Manufacturing overhead: Indirect labor cost$174,000Other manufacturing overhead costs incurred$498,000Cost of goods manufactured$1,469,000Cost of goods sold (unadjusted)$1,430,000 The journal entry to record the unadjusted Cost of Goods Sold is:
A.
| Cost of Goods Sold | 1,469,000 | |
| Finished Goods | 1,469,000 |
B.
| Finished Goods | 1,469,000 | |
| Cost of Goods Sold | 1,469,000 |
C.
| Cost of Goods Sold | 1,430,000 | |
| Finished Goods | 1,430,000 |
D.
| Finished Goods | 1,430,000 | |
| Cost of Goods Sold | 1,430,000 |
Stock issued in an IPO usually trades significantly higher at the end of the first day of trading than the original IPO price
Indicate whether this statement is true or false.