Mars Services, Inc pays $700,000 to acquire 35% (200,000 shares) of voting stock of Grey Investments, Inc on January 5, 2017
Grey Investments, Inc declares and pays a cash dividend of $2.4 per share on June 14, 2017. Which of the following is the correct journal entry for the transaction on June 14, 2017?
A)
Long-term Investments-Grey Investments, Inc. 480,000
Cash 480,000
B)
Cash 480,000
Dividend Revenue 480,000
C)
Cash 480,000
Long-term Investments-Grey Investments, Inc. 480,000
D)
Cash 480,000
Long-term Investments-Mars Services, Inc. 480,000
C
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Products Uno, Dos, Tres, and Quatro have contribution margins of $2, $3, $4, and $5, respectively, and require 1.5, 2, 2.5, and 3 machine hours per unit, respectively. Assuming that all units produced could be sold and that total machine hours per month are limited, on which product should the company concentrate its efforts?
a. Dos b. Quatro c. Uno d. Tres
A truck that cost $12,000 and on which $9,000 of accumulated depreciation has been recorded was disposed of on January 1. If the truck was discarded as having no value, the entry to record this event includes
A) a gain of $3,000. B) a loss of $3,000. C) a loss of $6,000. D) no recognition of a gain or loss.
Periodic interest payments on bonds are determined by multiplying the par value of the bond by the bond's contract rate.
Answer the following statement true (T) or false (F)
Which of the following is NOT an effective attitude when revising and proofreading documents?
a. The perspective of the audience is not as important as the writer's viewpoint. b. Proofreading and revising documents is essential to good writing. c. Other people can often make suggestions for improving one's writing. d. Spell check cannot catch all errors.