The changes in account balances of the Dunedin Corporation during 2014 are presented below: Increase Assets ............................................... $133,500 Liabilities .......................................... 40,500 Common Stock ......................................... 90,000 Additional Paid-In Capital ........................... 9,000 Assuming there are no changes in retained
earnings except for net income and a dividend payment of $19,500, the net income for 2014 should be
a. $6,000.
b. $13,500.
c. $19,500.
d. $25,500.
B
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Wexford Co purchased a new delivery truck at the beginning of 2016 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2016 . The truck was driven 20,000 miles during 2016 and 24,000 miles during 2017 . The number of expected miles over five years is 100,000. Refer to information for
Wexford Co Wexford's is comparing the straight-line and double-declining-balance depreciation methods. Of these two methods, which method creates the larger expense and larger tax savings in 2016? a. Straight-line depreciation creates the larger expense, while double-declining-balance depreciation creates the larger tax savings. b. Straight-line depreciation creates both the larger expense and the larger tax savings. c. Double-declining-balance depreciation creates both the larger expense and the larger tax savings. d. Double-declining-balance depreciation creates the larger expense, while straight-line depreciation creates the larger tax savings.
Which of the following kinds of marketing orientation is a domestic company most likely to have?
A) polycentric B) ethnocentric C) regiocentric D) geocentric
As a general rule, promoters are not liable for contracts they make on behalf of corporations that are not yet formed.
Answer the following statement true (T) or false (F)
The use of standard material or labor costs in job-order costing
a. is similar to the use of predetermined overhead rates in a normal costing system. b. will keep actual costs of jobs from fluctuating due to changes in component costs. c. is appropriate for any company making units to customer specification. d. all answers are correct.