-mail has the same formal tone and format as letters and reports
Indicate whether this statement is true or false.
FALSE
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Burdick Corporation has provided the following financial data from its balance sheet: Year 2Year 1Accounts receivable, net$266,000 $250,000 Inventory$162,000 $190,000 Total assets$1,415,000 $1,390,000 Total stockholders' equity$991,000 $970,000 Sales (all on account) in Year 2 amounted to $1,410,000 and the cost of goods sold was $860,000.The company's operating cycle for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. 10.4 days B. 79.5 days C. 72.2 days D. 141.3 days
A company receives $180 for a sale, of which $10 is for sales tax. The journal entry to record the sale is:
a. Sales Tax expense 10 Cash 170 Sales 180 b. Cash 170 Sales 170 c. Cash 180 Sales 180 d. Cash 180 Sales Tax Payable 10 Sales 170
An organized effort to generate many ideas from various sources is important for any firm that wishes to produce a continuing flow of new products
Indicate whether the statement is true or false a. True b. False
In the cost reconciliation report under the FIFO method, the costs accounted for equals the cost of units transferred out plus the costs added during the period.
Answer the following statement true (T) or false (F)