Accepting more work per period than can be completed per day results in all of the following except?
a. Increased WIP inventory
b. Increased shop congestion
c. Increased firm output rate
d. Increased job completion times
c. Increased firm output rate
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On January 1, $300,000 of par value bonds with a carrying value of $310,000 is converted to 50,000 shares of $5 par value common stock. The entry to record the conversion of the bonds includes all of the following entries except:
A. Debit to Bonds Payable $310,000. B. Credit to Paid-In Capital in Excess of Par Value, Common Stock $60,000. C. Debit to Premium on Bonds Payable $10,000. D. Credit to Common Stock $250,000. E. Debit to Bonds Payable $300,000.
Earnings per share tells the shareholder the amount of
a. cash generated per share of common stock. b. dividends earned by each common shareholder. c. dividend per share of common stock. d. income per share as if preferred stock dividends had been paid. e. income per share as if common and preferred stock dividends had been paid.
During 2019, Kathy, who is self-employed, paid $650 per month for an HSA contract that provides medical insurance coverage with a $3,000 deductible. The plan covers Kathy, her husband, and their three children. Of the $650 monthly fee, $300 was for the high-deductible policy, and $350 was deposited into an HSA. How much of the amount paid for the high-deductible policy can Kathy deduct as a deduction for AGI?
What will be an ideal response?
Revenue accounts are temporary accounts that should begin each accounting period with zero balances.
Answer the following statement true (T) or false (F)