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Mariana [72]
3 years ago
9

MCZ, Inc. is a corporation that was incorporated under the laws of the State of New Jersey. MCZ, Inc. has only one office which

is in Queens, New York. MCZ, Inc. has no other location. In New York, MCZ, Inc. is considered to be a domestic corporation.
a. True
b. False
Business
1 answer:
andreev551 [17]3 years ago
3 0
True maybee not sure
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Ichabod Industries has a Latin American Division, a European Division, an Industrial Lubricants Division, and a Food Service Div
Naily [24]

Answer:

Answer is option A i.e. hybrid combination.

Explanation:

A hybrid combination organizational structure can be that is basically the combinations of two or more structures. This is due to the reason that the organization might have a dynamic work environment where people from diversified backgrounds come along to work together.

4 0
3 years ago
During the process of confirming receivables as of December 31, Year 1, a positive confirmation was returned indicating the "Bal
romanna [79]

Answer:

D. Verify that the amount was received.

8 0
3 years ago
Padco averages $15 million worth of inventory in all of its worldwide locations. They operate 51 weeks a year and each week aver
Phoenix [80]

Answer:

Option (d) is correct.

Explanation:

Given that,

Average inventory in all of its worldwide locations = $15 million

Operate in a year = 51 weeks

Weekly cost of goods sold = $3 million

Annual cost of goods sold:

= Weekly cost of goods sold × Number of weeks in a year

= $3 million × 51 weeks

= $153 million

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= Cost of goods sold ÷ Average inventory

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= 10.2 turns

4 0
3 years ago
For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31
Vadim26 [7]

Answer:

1. Assume no other adjusting entries are made during the year a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?

Step 1: Unearned Revenue has a credit balance of $10,000

Step 2: Unearned Revenue should have a credit balance of $2,500 only.

Step 3: Adjusting Journal Entry:

Debit Unearned Revenue $7,500

Credit Service Revenue $7,500

To record revenue for services performed to December 31, 2017.

2.  Caden started a new publication called Contest News. Its sub subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account pay $24 to receive 12 monthly issues.

Step 1: Unearned Subscription Revenue has a credit balance of $2,400

Step 2: Unearned Subscription Revenue should have a credit balance of only $1,200.

Step 3: Adjusting Journal Entry:

Debit Unearned Subscription Revenue $1,200

Credit Subscription Revenue $1,200

To record subscription revenue for services performed to December 31, 2017.

Explanation:

Tao Co and Caden follow the three-step process of adjusting unearned revenue liability accounts at year-end.  The purpose of the steps is to ensure that correct amounts remain as balances in the unearned revenue accounts.  The steps also help to adjust the Earned Revenue account to its proper amount in recognition of goods or services provided in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

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2 years ago
Which of the following actions would be likely to encourage a firm's managers to make decisions that are in the best interests o
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