What is the best advice for organizing e-mail messages?
A) Place the action information in the first paragraph so that it's not overlooked.
B) Consider using headings if the message is more than a few paragraphs.
C) Omit a salutation or greeting; these are used only in business letters.
D) All of these choices
B
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When the net price method is used to record credit sales, the sales discounts not taken account is reported as a(n)
A) addition to sales returns and allowances on the income statement. B) deduction from gross sales on the income statement. C) deduction from selling expenses on the income statement. D) addition to sales revenue on the income statement.
Activity-based costing is appropriate for a company that manufactures a wide variety of products
Indicate whether the statement is true or false
A company issued 60 shares of $100 par value common stock for $7,000 cash. The journal entry to record the issuance is:
A. Debit Cash $7,000; credit Common Stock $6,000; credit Paid-in Capital in Excess of Par Value, Common Stock $1,000. B. Debit Cash $7,000; credit Common Stock $7,000. C. Debit Common Stock $6,000, debit Investment in Common Stock $1,000; credit Cash $7,000. D. Debit Cash $7,000; credit Paid-in Capital in Excess of Par Value, Common Stock $6,000, credit Common Stock $1,000. E. Debit Investment in Common Stock $7,000; credit Cash $7,000.
The following information relates to Carried Away Hot Air Balloons, Inc
Advertising Costs $10,400 Sales Salary 13,800 Sales Revenue 630,000 President's Salary 52,000 Office Rent 67,000 Manufacturing Equipment Depreciation 3,000 Indirect Materials Used 6,600 Indirect Labor 13,300 Factory Repair and Maintenance 820 Direct Materials Used 31,070 Direct Labor 31,900 Delivery Vehicle Depreciation 810 Administrative Salaries 24,700 How much was Carried Away's manufacturing overhead? A) $19,900 B) $20,720 C) $23,720 D) $62,970