How is depreciation expense reported in the financial statements?
A. Financing activities section of the statement of cash flows
B. Long-term liabilities section of the statement of stockholder's equity
C. Current assets section of the balance sheet
D. Operating expenses section of the income statement
Answer: D
You might also like to view...
ValleyView Company acquires common stock of Kansas Enterprises for $400,000 on November 1, 2013, and designates this investment as available-for-sale. The fair value of these shares is $435,000 on December 31, 2013 . ValleyView sells these shares on August 15, 2014, for $480,000. (Refer to ValleyView.) The total income from the purchase and sale of these securities is _____ reported _____
a. $80,000; in the year of sale. b. $80,000; as they occur. c. $35,000; in the year of sale. d. $35,000; as they occur. e. $45,000; in the year of sale
Electronic funds transfer is a system that transfers cash by using paper documents
Indicate whether the statement is true or false
Everyday low pricing of consumer convenience products
A. makes it easy to quickly compete on price-without changing basic strategy-when a competitor offers a particularly large discount for a short period of time. B. has been used by many retailers even though no producers have adopted this approach. C. confuses customers and increases selling costs. D. relies on frequent discounts and allowances from the producer. E. tends to reduce fluctuations in prices customers actually pay.
Miguez Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateStandard Cost Per UnitDirect materials 2.3liters$7.00per liter$16.10 Direct labor 0.7hours$22.00per hour$15.40 Variable overhead 0.7hours$2.00per hour$1.40 ?The company budgeted for production of 2,600 units in September, but actual production was 2,500 units. The company used 5,440 liters of direct material and 1,680 direct labor-hours to produce this output. The company purchased 5,800 liters of the direct material at $7.20 per liter. The actual direct labor rate was $24.10 per hour and the actual variable overhead rate was $1.90 per hour.?The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is
computed when the materials are purchased.?The materials quantity variance for September is: A. $2,232 F B. $2,170 F C. $2,170 U D. $2,232 U