Kiscaden Corporation began business operations and experienced the following transactions during Year 1:1) Issued common stock for $20,000 cash.2) Provided services to customers for $80,000 on account.3) Incurred $36,000 of operating expenses on account.4) Collected $46,000 cash from customers.5) Paid $30,000 on accounts payable.Required:Record the above transactions on a horizontal statements model to reflect their effect on Kiscaden's financial statements. Precede the amount with a minus sign if the transaction reduces that section of the equation. Enter 0 for items not affected. In the last column, enter OA, IA, FA for the type of cash flow activity, or NA if there is no activity.
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What will be an ideal response?
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A) truth and falsehood. B) current and very old evidence. C) logical and emotional factors. D) many major points all at once. E) demographics and psychographics.
During the month, Barrera Manufacturing incurred (not paid) $45,000 in direct labor costs in Department 1, $22,000 direct labor costs in Department 2, and $3500 of indirect labor costs. Which of the following is NOT part of the summary journal entry to record these transactions? Process costing is used.
A) debit to Manufacturing Overhead for $3500 B) debit to Work-in-Process Inventory for $70,500 C) credit to Wages Payable for $70,500 D) debit to Work-in-Process Inventory—Department 1 for $45,000
A company had net sales of $340,500, its cost of goods sold was $257,000, and its net income was $13,750. The company's gross margin ratio equals 24.5%.
Answer the following statement true (T) or false (F)
Jennifer fits the definition of an authentic leader, meaning that she has the appropriate education credentials for her position
Indicate whether the statement is true or false.