On a worksheet, the adjusting entry to account for depreciation of equipment consists of:
A. a debit to Accumulated Depreciation and a credit to Depreciation Expense.
B. a debit to Depreciation Expense and a credit to Accumulated Depreciation.
C. a debit to Accumulated Depreciation and a credit to Equipment.
D. a debit to Depreciation Expense and a credit to Equipment.
Answer: B
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Indicate whether the statement is true or false
What is achieved by posting the following adjusting entry?
a. Closes the balance of the Factory Overhead account. b. Transfers to Work in Process Inventory the underapplied balance of the Factory Overhead account. c. Transfers to Work in Process Inventory an amount of overhead that should be applied to the unfinished (jobs) work in process. d. Transfers to Work in Process Inventory the overapplied balance of the Factory Overhead account. e. Closes the balance of the Work in Process Inventory account.
The companies that lead change most effectively establish a sense of
A. competition. B. cooperation. C. empathy. D. complacency. E. urgency.
Which of the following is a basic right of stockholders?
A) Stockholders may sell their stock back to the company if they wish. B) Stockholders may authorize a business contract on behalf of the corporation. C) Stockholders may receive dividends from corporate earnings. D) Stockholders may determine the issue price of common stock.