Madison Company issued an interest-bearing note payable with a face value of $10,200 and a stated interest rate of 8% to Metropolitan Bank on August 1, Year 1. The note carried a one-year term.Based on this information alone, what is the amount of total liabilities appearing on Madison's balance sheet as of December 31, Year 1?
A. $10,676
B. $10,200
C. $11,016
D. $10,540
Answer: D
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External service desks typically face the same budget and staffing constraints that internal service desks do.
Answer the following statement true (T) or false (F)
Jake Co. has prepared the following fixed budget for the year, assuming production and sales of 30,000 units. This level of production represents 80% of capacity.Jake Co.Fixed BudgetFor Year Ending December 31Sales ………………………………………………?$1,500,000Cost of goods sold:?? Direct materials ………………………………$540,000? Direct labor ……………………………………300,000? Indirect materials (variable) …………………15,000? Indirect labor (variable) ………………………21,000? Depreciation …………………………………180,000? Salaries ………………………………………90,000? Utilities (80% fixed) …………………………54,000?
Maintenance (40% variable) …………………33,0001,233,000Gross profit ………………………………………?$ 267,000Operating expenses:?? Commissions …………………………………$ 45,000? Advertising (fixed) ……………………………60,000? Wages (variable) ………………………………15,000? Rent ……………………………………………30,000? Total operating expenses ……………………? 150,000Income from operations …………………………?$ 117,000Calculate the following flexible budget amounts at the indicated levels of capacity:?Operations at60% of Capacity?Operations at75% of CapacitySales ? Total variable costs ? Total fixed costs ? Income from operations ? What will be an ideal response?
The federal government has
A) an estate tax and a gift tax, but no inheritance tax. B) an estate tax, a gift tax, and an inheritance tax. C) an estate tax and an inheritance tax, but no gift tax. D) an estate tax, but no gift or inheritance tax.
The Leegin Creative Leather Products, Inc v. PSKS, Inc case held that:
a. vertical agreements establishing minimum resale prices should be judged by the rule of reason standard. b. vertical agreements establishing minimum resale prices are illegal per se. c. horizontal price fixing agreements must be evaluated by studying the reasonableness of the restraint in light of real market forces at work in the situation. d. if a seller can show it costs less to sell to a particular buyer, the seller may lawfully pass along the cost savings.