Blind Faith Company reported the following data with regard to its first quarter of operations: Sales revenue $180,000 Interest revenue 3,000 Gain on sale of machine 7,500 Cost of goods sold 67,500 Salaries and wages 12,000 Decline in inventory, LCM (temporary) 5,500 Annual property tax 4,500 The expected annual income tax rate is 40 percent. Blind Faith should report net income on the first
quarter interim financial statements of
a. $0.
b. $61,425.
c. $63,225.
d. $65,925.
D
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The European Union citizenship was created by:
a. the Treaty of Rome. b. the Single European Act. c. the Maastricht Treaty. d. the Treaty of Amsterdam.
Express the following balance sheets for Safety Company in common-size percentages.Safety CompanyBalance SheetsDecember 31, Year 2 and Year 1?Year 2Year 1Assets??Cash$ 43,000$ 22,000Accounts receivable38,00042,000Merchandise inventory61,00052,000Prepaid insurance6,0009,000Long-term investments49,00020,000Plant assets (net)218,000218,000Total assets$415,000$363,000???Liabilities and Equity??Current liabilities$ 62,000$ 75,000Long-term liabilities45,00036,000Common stock150,000150,000Retained earnings 158,000 102,000Total liabilities and equity$415,000$363,000??
What will be an ideal response?
Silas asks his friend Shelby to come to his property to go fishing at his pond. If he fails to warn her that the pier has a rotten spot and she falls through and is injured, Silas would be held liable in most states.
Answer the following statement true (T) or false (F)
In the system implementation phase of the systems development life cycle (SDLC), with ________ installation, the organization implements the entire new system/business processes on a limited portion of the business
A) parallel B) phased C) pilot D) plunge