The controller for Tires and More, Inc has recorded the following transactions during the month: the company was established by selling 10,000 shares of stock to the public for $20,000 on the 1st of the month; the company recorded $36,000 of revenue for tires and services provided during the month; and expenses of $22,000 were recorded for the month. What is the balance of Stockholders' Equity at
the end of the month, and is the balance a debit or a credit?
A) $34,000 debit.
B) $34,000 credit.
C) $20,000 credit.
D) $6,000 debit.
B
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Which statement pertains to parallel translation?
A) If the translator is not fluent in both languages and not familiar with both cultures, direct translation of certain words and phrases may be erroneous. B) A committee of translators, each of whom is fluent in at least two of the languages in which the questionnaire will be administered, discusses alternative versions of the questionnaire and makes modifications until consensus is reached. C) The questionnaire is translated from the base language by a bilingual speaker whose native language is the language into which the questionnaire is being translated. D) Repeat translations and back translations may be necessary to develop equivalent questionnaires, and this process can be cumbersome and time consuming.
Consider a work center with a demand rate of 20 parts per hour and using a container that can hold 5 parts. It is estimated that the container takes 30 minutes to cycle through the work cell. Assume a safety stock level of 10 percent. What is the value of S for this system?
a. 5 b. 0.5 c. 0.1 d. 20
Madison Company owned an asset that had cost $44,000. The company sold the asset for $16,000. Accumulated depreciation on the day of sale amounted to $32,000. Which of the following statements is true?
A. A $16,000 increase in total assets. B. A $4,000 gain in the investing activities section of the statement of cash flows. C. A $16,000 cash inflow in the investing activities section of the cash flow statement. D. A $4,000 cash inflow in the financing activities section of the cash flow statement.
A partner who commits a tort has liability for indemnifying the partnership for any loss it sustains
Indicate whether the statement is true or false