Riley Inc.'s charter authorizes 1,000 shares of stock at a stated value of $10 per share. Riley issues 50 shares of stock at its initial offering for $20 per share. The journal entry to record this transaction will include a (debit/credit) __ to Common Stock, $ __.
Fill in the blank(s) with the appropriate word(s).
-Credit.
-500.
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For the consumer market, marketing channels include direct channels as well as indirect channels
Indicate whether the statement is true or false
Scholfield Enterprises makes a variety of products that it sells to other businesses. The company's activity-based costing system has four activity cost pools for assigning costs to products and customers. Details concerning that ABC system are listed below:Activity Cost PoolActivity MeasureActivity RateSupporting assemblyDirect labor-hours (DLHs)$6.55per DLHProcessing batchesNumber of batches$138.20per batchProcessing ordersNumber of orders$52.60per orderServing customersNumber of customers$1,191.00per customerThe cost of serving customers, $1,191.00 per customer, is the cost of serving a customer for one year.Latif Corporation buys only one of the company's products which Scholfield Enterprises sells for $15.60 per unit. Last year Latif Corporation ordered a total of 1,100 units of this
product in 2 orders. To fill the orders, 7 batches were required. The direct materials cost is $7.85 per unit and the direct labor cost is $1.90 per unit. Each unit requires 0.10 DLHs.According to the ABC system, the customer margin for this customer this past year was closest to: A. $6,435.00 B. $14,175.90 C. $3,450.90 D. $8,525.00
What types of companies can have a compilation performed in accordance with the AICPA standards?
a. Public Companies: Yes; Nonpublic Companies: Yes b. Public Companies: No; Nonpublic Companies: No c. Public Companies: No; Nonpublic Companies: Yes d. Public Companies: Yes; Nonpublic Companies: No
Those advocating a need allocation standard argue that
A. those who contributed more should receive more, in proportion to the magnitude of their contribution. B. decision rules in coalitions should be made on an individual, case-by-case basis. C. parties should receive more in proportion to some demonstrated need for a larger share. D. everyone should receive the same outcome.