Both the debit and credit amounts from which of the following accounts are extended to the Adjusted Trial Balance columns of the work sheet?
a. Merchandise Inventory
b. Purchases Returns and Allowances
c. Interest Revenue
d. Income Summary
d
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An advantage of the corporate form is the ability of the board to hire professional managers to attend to the corporation's affairs
Indicate whether the statement is true or false
On July 1, 2018, Electrical Services issued $37,000 of 8% bonds that mature in five years. The bonds were issued at a premium, for a total of $38,665. The bonds pay semiannual interest payments on June 30 and December 31 of each year. On December 31, 2018, what is the total amount paid to bondholders?
A) $1480 B) $2960 C) $1547 D) $3093
Aspen Corporation Data for Aspen Corporation for the year ended December 31, 2012, are presented below. Credit sales $2,100,000 Sales returns 150,000 Gross accounts receivable (December 31, 2012 ) 420,000 Allowance for bad debts (Before adjustment at December 31, 2012 ) 25,000 Estimated amount of uncollected accounts based on an aging analysis 75,000 Refer to the information provided for Aspen
Corporation. If Aspen uses the aging of accounts receivable method to estimate its bad debts, what will be the net realizable value of its accounts receivable after the adjustment for bad debt expense? A) $343,000 B) $345,000 C) $420,000 D) $395,000
Which of the following statements regarding aggregate planning in services is FALSE?
A) Approaches to aggregate planning differ by the type of service provided. B) Some service organizations conduct aggregate planning in exactly the same way as manufacturing firms, but with demand management taking a more active role. C) Aggregate planning in some service industries may be easier than in manufacturing. D) Labor is the primary aggregate planning vehicle. E) Level scheduling is far more common than using a chase strategy.