A machine was purchased for $5,000 on July 1, 2011 . If the salvage value was estimated at $200, the estimated life 5 years, and the declining-balance method of depreciation was used, what was the depreciation for 2011?
a. $100
b. $1,000
c. $1,920
d. $960
e. None of the above
b
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Which of the following should be added to net income in calculating net cash flow from operating activities usingthe indirect method?
a. a gain on the sale of land b. a decrease in accounts payable c. an increase in accrued liabilities d. dividends paid on common stock
When a firm wants its coding system to convey meaning without reference to any other document, it would choose
a. an alphabetic code b. a mnemonic code c. a group code d. a block code
During March, the production department of a process operations system completed and transferred to finished goods 25,000 units that were in process at the beginning of March and 110,000 that were started and completed in March. March's beginning inventory units were 100% complete with respect to materials and 55% complete with respect to labor. At the end of March, 30,000 additional units were in process in the production department and were 100% complete with respect to materials and 30% complete with respect to labor. The production department incurred direct labor cost of $578,900 and its beginning inventory included labor cost of $54,700. Compute the direct labor cost per equivalent unit for the department using the weighted-average method.
A. $4.40. B. $4.86. C. $4.28. D. $4.69. E. $3.84.
Sarah joined a religious cult while a student at college. Her father hired a deprogrammer who spent several weeks with her, during which they occasionally went on outings. After Sarah met with her boyfriend one weekend, she rejoined the cult and sued her father and the deprogrammer for false imprisonment. In this case:
a. Sarah will win because this is clearly false imprisonment. b. Sarah will lose because she was not confined within fixed boundaries, she was not harmed by the deprogrammer's presence, and she had a reasonable means of leaving. c. Sarah has committed the tort of malicious prosecution. d. Sarah's parents are guilty of intrusion but not of false imprisonment.