Downstream marketing channel partners, such as wholesalers and retailers, form a vital link between the firm and its customers
Indicate whether the statement is true or false
TRUE
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Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on August 31, its Cash account shows a debit balance of $13,162. Franklin's August bank statement shows $14,237 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit$4,500 Outstanding checks$3,900 Bank service fees, not yet recorded by company$50 The bank collected on a note receivable, not yet recorded by the company$1,725 The adjusted cash balance should be:
A. $10,337 B. $18,737 C. $13,112 D. $14,887 E. $14,837
A(n) ________ is a party who is unintentionally benefited by other people's contracts.
A. incidental beneficiary B. intended third-party beneficiary C. sub-assignor D. obligee
On January 1, Year 1, Bluestone Company issued bonds with a face value of $500,000 at 90. Which of the following journal entries would be required to record the bond issue?
A.
| Cash | 500,000 | |
| Bonds Payable | 500,000 |
B.
| Cash | 450,000 | |
| Premium on Bonds Payable | 50,000 | |
| Bonds Payable | 500,000 |
C.
| Cash | 500,000 | |
| Discount on Bonds Payable | 50,000 | |
| Bonds Payable | 550,000 |
D.
| Cash | 450,000 | |
| Discount on Bonds Payable | 50,000 | |
| Bonds Payable | 500,000 |
A work center was available for work 80 hours, produced 74 standard hours of work and actually
worked 67 hours. What is the efficiency of the work center? A) 108.1% B) 92.5% C) 110.4% D) 119.4%