Treasury stock should be reported in the financial statements of a corporation as a(n)
a. investment
b. liability
c. current asset
d. deduction from stockholders' equity
d
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The state of Ohio has passed a law requiring that every automobile be inspected at least once a year for pollution control. Anson Enterprises is considering entering into this type of business. After extensive studies, Mark Anson has developed the following set of projected annual data on which to make his decision: Direct service labor $363,000.00 Variable service overhead costs 270,000.00 Fixed
service overhead costs 280,000.00 Marketing expenses 120,000.00 General and administrative expenses 170,000.00 Minimum profit 90,000.00 Cost of assets employed 500,000.00 Anson believes that his company will inspect 100,000 automobiles per year. The company earns an average of 18.75 percent return on its assets. The price to be charged for inspecting each automobile using the gross margin pricing method would be calculated as A) ($1,203,000.00 ÷ 100,000 ) + [($1,203,000.00 ÷ 100,000 ) x ($90,000 ÷ $1,203,000.00)]. B) ($1,203,000.00 ÷ 100,000 ) + [($500,000 ÷ 100,000 ) x 0.1875]. C) ($913,000.00 ÷ 100,000 ) + {($913,000.00 ÷ 100,000 ) x [($90,000 + $290,000 ) ÷ $913,000.00]}. D) none of these options.
The more long-term debt in a firm's capital structure, the less the risk that the firm will experience difficulty making the required payments when due
Indicate whether the statement is true or false
Which of the following statements is true regarding process costing?
A) Product costs are tracked and assigned to each job. B) Product costs are tracked to particular departments and then assigned evenly to the products that pass through each department. C) There should not be any beginning or ending work-in-process inventory. D) The units produced by a processing department should all be different in some way or another.
Participants in a training program at Lako Systems are examining the many variables at play in a situation. They are analyzing and synthesizing facts to better understand how decisions were made and thereby improve their own decision-making skills. These trainees are case-study participants.
Answer the following statement true (T) or false (F)