When preparing the operating activities section of the statement of cash flows using the indirect method, non-operating gains are added to net income.
Answer the following statement true (T) or false (F)
False
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Hesson Properties, Inc Transactions for Hesson Properties are provided below. Nov. 1 Hesson purchases two new maintenance carts on credit at $375 each. The carts are added to Hesson's property, plant, and equipment records. Payment is due in 30 days. Nov. 8 Hesson accepts $75 of advance payments from customers for services to be provided in December. Nov. 15 Hesson receives the utility bill for
$150. Payment is due in 30 days. Nov. 20 Customers are billed $750 by Hesson for property services. Payment is due from the customers in 30 days. Nov. 30 Hesson received $500 from customers who were billed on November 20th. Refer to the transactions that occurred at Hesson Properties. Based on these transactions, what is the journal entry to record the November 20th transaction? A) Cash 750Accounts Receivable 750 B) Accounts Receivable 750Service Revenue 750) Service Revenue 750h 750 D) Service Revenue 750Accounts Payable 750
Cotton Corp. currently makes 10,000 subcomponents a year in one of its factories. The unit costs to produce are: Per unitDirect materials $32.50Direct labor 13.00Variable manufacturing overhead 19.50Fixed manufacturing overhead 26.00Total unit cost $91.00An outside supplier has offered to provide Cotton Corp. with the 10,000 subcomponents at an $84.50 per unit price. Fixed overhead is not avoidable. What is the maximum price Cotton Corp. should pay the outside supplier?
A. $65.00 B. $84.50 C. $58.50 D. $91.00
Which of the following is an apparent disadvantage of utilitarianism?
A) It does not allow people to have subjective notions of right and wrong. B) It is based on moral duties derived from universal rules. C) It puts too much emphasis on one book or theory. D) It treats morality as if it were an impersonal mathematical calculation.
________ is an act that requires certain firms to notify the Federal Trade Commission and the Justice Department in advance of a proposed merger and comply with a thirty-day waiting period before the merger is approved
A) Celler-Kefauver Act B) Hart-Scott-Rodino Antitrust Improvement Act C) Robinson-Patman Act D) Sherman Act