The objective of segment profitability decisions is to identify the segments that have a negative segment margin so that managers can drop them or take corrective actions
Indicate whether the statement is true or false
T
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According to a summary of the payroll of Scotland Company, $450,000 was subject to the 6.0% social security taxand $500,000 was subject to the 1.5% Medicare tax. Federal income tax withheld was $98,000 . Also, $15,000 wassubject to state (4.2%) and federal (0.8%) unemployment taxes. The journal entry to record accrued salarieswould include a
a. debit to Salaries Payable of $313,000 b. credit to Salaries Payable of $364,500 c. debit to Salaries Expense of $364,500 d. credit to Salaries Expense of $313,000
Adjusted trial balance figures are usually sent from the business reporting department to the:
a. the financial reporting officer b. the managerial reporting officer c. the treasurer d. the budgeting department
Generally speaking, males learn nurturing and relationship skills early, whereas females approach life from a more aggressive and competitive stance.
Answer the following statement true (T) or false (F)
Use the selected data from Pinecrest Company's financial statements to answer the following question. 2017 2016 Cash $ 22,000 $ 14,000 Accounts receivable 42,000 16,000 Merchandise inventory 22,000 83,000 Prepaid expenses 23,000 18,000 Total current assets $109,000 $131,000 Total current liabilities $ 65,000 $ 72,000 Net credit sales 221,000 326,000 Cost of goods sold 168,000 299,000 Net cash
flow from operating activities 16,000 29,000 Refer to the data for Pinecrest Company. Competitors in Pinecrest Company's industry have an average inventory turnover of 20.8 times. Its inventory turnover for 2017 a. indicates that the company has too little inventory on hand at the end of 2017. b. indicates that the company is pricing its products too low. c. is equal to the number of days' sales in the company's inventory. d. indicates that the market may be reacting to problems in the sales department by reducing demand for the company's products.