Your Best Advisors, a service company, uses reversing entries
On March 31, 2016, they journalized and posted the following adjusting entry to accrue Utilities Expense:
Utilities Expense 400
Utilities Payable 400
Which of the following entries is the correct reversing entry to be prepared on April 1, 2016?
A)
Utilities Payable 400
Utilities Expense 400
B)
Utilities Expense 400
Income Summary 400
C)
Cash 400
Utilities Expense 400
D)
Utilities Expense 400
Accounts Receivable 400
A
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Reporting basic earnings per share is required for which type of corporate capital structure?
A) simple B) complex C) primary D) both simple and complex
Accelerated Logistics provides the following information:
What is the company's profit margin ratio? (Round your answer to two decimal places.)
A) 14.29%
B) 10.71%
C) 75.00%
D) 27.90%
The objective of the customer arrival process is to
A) get the correct orders to customers by the promised due date at the lowest possible cost. B) maintain a record of product receipt and complete payment. C) maximize the conversion of customer arrivals to customer orders. D) ensure that orders are quickly and accurately entered and communicated to other affected supply chain processes.
How is preferred stock similar to common stock?
A) Preferred dividend payments usually have unlimited growth potential. B) Preferred stock dividends and common stock dividends are fixed. C) Both preferred and common stockholders have voting control of a firm. D) Investors cannot sue a corporation for the non-payment of dividends.