Majorn Auto Parts Store had net income of $81,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year:??Increase in accounts receivable$102,000Decrease in inventory$18,000Decrease in accounts payable$35,000Increase in retained earnings$29,000Cash received from sale of building$215,000Gain on sale of building$47,000Depreciation expense$32,000Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?
A. $(53,000)
B. $279,000
C. $185,000
D. $41,000
Answer: A
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Dotterel Corporation uses the variable cost concept of product pricing. Below is cost information for the production and sale of 35,000 units of its sole product. Dotterel desires a profit equal to a 11.2% rate of return on invested assets of $350,000. Fixed factory overhead cost $105,000 Fixed selling and administrative costs 35,000 Variable direct materials cost per unit 4.34 Variable direct
labor cost per unit 5.18 Variable factory overhead cost per unit .98 Variable selling and administrative cost per unit .70 The dollar amount of desired profit from the production and sale of the company's product is: A) $89,600 B) $39,200 C) $70,000 D) $84,000
Customer demand for ethical and environmental performance has been and continues to ________.
a. Decrease b. Increase c. Stay roughly the same d. Be nonexistent
Which of the following products is least likely to be produced in a process operation?
A. Calculators B. Baseball caps C. Custom cabinets D. Slacks for casual wear E. Smartphones
In Robinson v. Durham, the court found:
a. the Robinsons were good faith purchasers for value when they bought the car for their business, and they had good title which they passed to Durham. b. the Robinsons had a voidable title, and they passed good title to Durham, who was a good faith purchaser for value. c. there was a breach of warranty of title between the Robinsons and Durham. d. the Robinsons obtained no title from the thief, but they passed good title to Durham since he was a good faith purchaser for value.