A companys Office Supplies account shows a beginning balance of $600 and an ending balance of $400. If office supplies expense for the year is $3,100, what amount of office supplies was purchased during the period?
A) $2,700.
B) $2,900.
C) $3,300.
D) $3,500.
E) $3,700.
B) $2,900.
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When a loss is recorded on the sale of a significant influence equity investment, ________.
A) total assets will increase B) equity will increase C) total assets will decrease D) equity will remain unchanged
Values-based cultures are also known as ________ cultures.
Fill in the blank(s) with the appropriate word(s).
Kari is the sole proprietor of Living Earth Garden Shop. As a sole proprietor, on the business's profits, Kari pays
a. no income taxes. b. only personal income taxes. c. only business income taxes. d. both personal and business income taxes.
Likes Incorporated makes a single product-a cooling coil used in commercial refrigerators. The company has a standard cost system in which it applies overhead to this product based on the standard machine-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Total budgeted manufacturing overhead$495,040 Budgeted production (a) 35,000unitsStandard hours per unit (b) 1.70machine-hoursBudgeted hours (a) × (b) 59,500machine-hours Applying Overhead: Actual production (a) 30,000unitsStandard hours per unit (b) 1.70machine-hoursStandard hours allowed for the actual production (a) × (b) 51,000machine-hours Total actual manufacturing overhead$498,000 Actual hours 52,000machine-hoursThe total amount of
manufacturing overhead applied is closest to: A. $424,320 B. $498,000 C. $432,640 D. $488,400