Financial fraud is a civil, not criminal, matter
a. True
b. False
Indicate whether the statement is true or false
False
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Router Inc lends $70,000 on a 120-day, 9% promissory note. The total interest that Router will receive at maturity is
a. $6,300 b. $2,100 c. $525 d. $1,890
Web Consulting received $3,000 from a customer for services provided. The general journal entry to record this transaction will be:
A. Debit Cash, credit Services Revenue. B. Debit Cash, credit Accounts Receivable. C. Debit Cash, credit Accounts Payable. D. Debit Accounts Payable, credit Services Revenue. E. Debit Services Revenue, credit Accounts Receivable.
In the earliest years of our country's formation, work was characterized as:
A. Skilled industrial jobs. B. Craft workers employed by factories and shop owners. C. Self-employed farmers, shopkeepers and craftsman. D. Unskilled industrial jobs.
A considerable portion of the text's process-costing presentation illustrated the proper way to allocate manufacturing costs to the units completed during the period and the ending work-in-process inventory. For companies that have a single manufacturing department, the journal entry to recognize completed production involves a debit to Finished-Goods Inventory and a credit to Work-in-Process Inventory. Required:What journal entry, if any, is needed for these same companies to properly account for ending work in process?
What will be an ideal response?