In regards to extraordinary items, which of the following statements is not correct?
A) Losses due to lawsuits do not qualify as extraordinary.
B) An extraordinary gain is reported the same as a loss - net of the income tax effect.
C) Taking of a company assets by a foreign government are generally considered to be extraordinary items.
D) Extraordinary items are reported separately from continuing operations because of their infrequent and unusual nature.
A
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Six Sigma was developed by ______.
A. General Electric B. Toyota C. Motorola D. Nissan
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2. Year 2Year 1 Cash$39,300? $34,050? ?Short-term investments 108,000? 69,000? ?Accounts receivable, net 94,500? 88,500? ?Merchandise inventory 130,000? 134,000? ?Prepaid expenses 13,900? 11,500? ?Plant assets 397,000? 347,000? ?Accounts payable 104,400? 116,800? ?Net sales 720,000? 685,000? ?Cost of goods sold 399,000? 384,000? ???
A. $151,300. B. $173,300. C. $186,800. D. $281,300. E. $267,400.
As of December 31, Year 2, Bristol Company had $100,000 of assets, $40,000 of liabilities and $25,000 of retained earnings. What percentage of Bristol's assets were obtained through investors?
A. 35% B. 25% C. 40% D. 60%
Hosanna Furnishings finished Job A40, which involved $4,000 of direct materials and $600 of direct labor
Hosanna uses a predetermined overhead allocation rate based on 40% of direct labor costs. Provide the journal entry needed to record the completion of the job. What will be an ideal response