An amount recorded as an increase in the company's cash account at month-end, but which has not yet been reflected on the bank statement is called a(n)___________
Fill in the blank(s) with correct word
deposit in transit
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Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow: Planned production in units10,000Actual production in units10,000Number of units sold8,500There were no variances.The income (loss) under variable costing is:
A. $9,000. B. $15,000. C. $18,000. D. $(7,500). E. None of the answers is correct.
The current indirect rate is 110, the interest rate in the foreign country is 7%, the interest rate in the home country is 5%. What is the forward indirect rate if t = 2?
A) 122.65 B) 114.23 C) 124.78 D) 125.55
Joint tenants cannot make inter vivos conveyances
Indicate whether the statement is true or false
During 2021, Victory Solutions had the following cash flows: (1) received cash of $5,000 billed to a customer in 2020; (2) earned $20,000 of net income; (3) paid interest of $6,000 on a corporate bond issued; (4) paid dividends of $8,000 to its stockholders; (5) borrowed $40,000 from a local bank; and (6) purchased its own shares of common stock for $10,000. What is Victory Solutions' net cash flows from financing activities for 2021?
A. $16,000. B. $22,000. C. $40,000. D. $30,000.