To record a stock dividend of 10%, debit Stock Dividends for the par value of the shares distributed
Indicate whether the statement is true or false
false
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If Department R uses $60,000 of direct materials and Department S uses $15,000 of direct materials, the following journal entry would be recorded by the process costing system: Work in Process Inventory, Department R60,000 Work in Process Inventory, Department S15,000 Raw Materials Inventory 75,000
Answer the following statement true (T) or false (F)
Spending on online ads fell back below that of combined newspaper and magazine advertising in 2012.
Answer the following statement true (T) or false (F)
Refer to the following selected financial information from Gomez Electronics. Compute the company's debt-to-equity ratio for Year 2. Year 2Year 1Net sales$478,500 $426,250 Cost of goods sold 276,300 250,120 Interest expense 9,700 10,700 Net income before tax 67,250 52,680 Net income after tax 46,050 39,900 Total assets 317,100 288,000 Total liabilities 181,400 167,300 Total equity 135,700 120,700
A. 0.75. B. 1.75. C. 2.34. D. 1.34. E. 2.63.
U.S. GAAP permits firms to measure the cost of goods sold and the amount of ending inventories for a period using the
a. specific identification method. b. first-in, first-out (FIFO) cost-flow assumption. c. weighted-average cost-flow assumption. d. last-in, first-out (LIFO) cost-flow assumption. e. all of the above.