Use the information presented below for Farley River, Inc for 2015 and 2014 to answer the questions that follow. Farley River uses the straight-line depreciation method. 2015 2014 Property, plant, and equipment $ 250,000 $190,000 Accumulated depreciation 100,000 85,000 Depreciation expense 62,500 47,500 Net sales 1,000,000 900,000 Average Total assets 625,000 475,000 Refer to the information for
Farley River, Inc Between 2014 and 2015, Farley River sold some equipment that had an original cost of $57,500 . Which statement is most likely true concerning transactions that must have occurred during the period?
a. Farley River also purchased additional equipment during the year.
b. The selling price of the equipment sold was reported with net sales.
c. The equipment that was sold had a book value of $12,500.
d. The equipment sold had not been reported with Farley River's property, plant and equipment.
a
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Answer the following statements true (T) or false (F)
1.When Carly tries to show Marti that she is genuinely concerned about her well-being, she is engaging in sympathy. 2.We tend to pay extra attention to what we see or hear first (known as the recency effect). 3.We tend to pay extra attention to what we see or hear last (the recency effect). 4.Perception checking involves observing the behavior of another, describing and interpreting what his or her behavior means to you, and putting your interpretation into words in an effort to determine if your perception is correct. 5.By taking stock of yourself, including your emotional state and biases, you are able to avoid taking responsibility for what you bring to the perception process.
Which of the following transactions involves an exchange of value?
a. Accumulation of interest b. Sale of services c. Flood loss d. Wear and tear on equipment
Acme Global uses four different selection tests: an honesty test, a skills test, a cognitive ability test, and an interview. Each test is worth 25 points. To become a finalist, a job candidate must get an average score of 75 on the four tests. Acme Global is using a(n) __________ selection model.
A. inquiry B. multiple-hurdle C. compensatory D. closed ended
A law firm billed a client $1,800 for work performed in the current month. Which of the following general journal entries will the firm make to record this transaction?
A. Debit Cash, $1,800; credit Unearned Legal Fees Revenue, $1,800. B. Debit Legal Fees Revenue, $1,800; credit Accounts Receivable, $1,800. C. Debit Accounts Receivable, $1,800; credit Unearned Legal Fees Revenue, $1,800. D. Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800. E. Debit Cash, $1,800; credit Accounts Receivable, $1,800.