Stock purchase warrants are instruments that give their holder the right to purchase a certain number of shares of the firm's common stock at the market price over a certain period of time
Indicate whether the statement is true or false
FALSE
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Modern Age Company made total cash sales in February of $666,000, which are subject to 7.5% sales tax. Prepare the summary entry to record the transaction. Omit explanation.
What will be an ideal response?
Which of the following cost flow assumptions most closely follows the logical product flow in a process costing environment?
a. Average b. LIFO c. FIFO d. HIFO
Meinke Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During April, the kennel budgeted for 3,700 tenant-days, but its actual level of activity was 3,680 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for April:Data used in budgeting: Fixed element per monthVariable element per tenant-dayRevenue - $33.80 Wages and salaries$3,100 $6.40Food and supplies 1,000 14.40Facility expenses 9,100 3.40Administrative expenses 6,500 0.40Total expenses$19,700 $24.60?Actual results for April: ?Revenue$118,524 Wages and salaries$27,122?Food and supplies$51,982?Facility expenses$20,852?Administrative
expenses$8,052???The administrative expenses in the planning budget for April would be closest to: A. $7,972 B. $8,096 C. $8,052 D. $7,980
Organizations that typically provide an array of services to start-up companies along with a small amount of funding are referred to as:
A) angel investors. B) crowdfunders. C) incubators. D) venture capital investors.