Answer:
C. An operations costing system is the same as job order costing system except that materials are accounted for in the same way as they are in process costing system
Explanation:
Operation costing is a hybrid of both job costing and process costing which can either used for:
- products which use different materials initially but ends up using a common process for production that is same process for different group of products.
- product has identical processing initially for different group of products and ends up with more product specific procedures.
Answer: Loss of $22,000
Explanation:
Gain (loss) = Net Carrying Value of Bonds recalled - Price bond called at
Net Carrying Value of Bonds
= Par value - Unamortized discount
= 300,000 - 10,000
= $290,000
Gain (loss) = 290,000 - (300,000 * 104)
= ($22,000)
Answer:
You need to write a check for $167.50 from your checking account, which has a balance of $1,725.25. What percent of your balance will remain?
The percent balance will remain 90%
Explanation:
$1725.25 - $167.50= $1557.75
percentage left= 1557.75/1725.25 X 100
percentage left= 90.291= 90.30%
John Maynard Keynes believed in government intervention into the economy to regulate the markets. Therefore, this statement would signify Keynes' view that B) government regulation is necessary to stabilize the economy.
Answer:
1. Dividends are deducted from the Statement of Retained Earnings as dividend expenses.
2. Dividends payable are reported in the Balance Sheet as current liabilities.
Explanation:
Dividends are distributions to the shareholders from earnings (income) after all expenses and taxes have been deducted from the revenue for the period. Dividends payable are unpaid dividends, which are reported as current liabilities until they are paid for in the next accounting period.
