When observing your customers for signs of intoxication, you don't need to consider how they look or act upon entering your establishment because you are not responsible for what they did before they arrived.

On December 15, 19x5, FLM Corporation exchanged 2,000 shares of $10 par value common stock for land. The current market price of the stock was $20 per share. The value of the land was not readily determinable.

The Titan retires a $25.8 million bond issue when the carrying value of the bonds is $22.8 million, but the market value of the bonds is $28.3 million. The entry to record the retirement will include:a. A credit to cash for $22.8 million. b.

Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $12,900.

Helen and her friends want to start a new software firm. Its business plan has been finalized. Helen is in charge of the HR planning process fro the new firm. She needs to examine and decide the types of jobs required to run the firm.

Maritime Marine Company has total estimated factory overhead for the year of $986,800, divided into four activities: fabrication, $386,400; assembly, $207,900; setup, $112,000; and inspection, $280,500.

Total liabilities and total assets for a company amount to $100,000 and $250,000, respectively. Revenue for the year totaled $300,000. What is the owner's total equity? a. $250,000 b. $150,000 c. $400,000 d. $650,000

Weaver Corporation had the following stock issued and outstanding at January 1, Year 1: 99,000 shares of $14 par common stock. 8,000 shares of $80 par, 4 percent, noncumulative preferred stock.

Consumption, investment, and government spending and tax revenues are given by the following information: C = 100 + 0.

Prior to liquidating their partnership, Pepper and Russo had capital accounts of $30,000 and $119,000, respectively. The partnership assets were sold for $55,000. The partnership had no liabilities. Pepper and Russo share income and losses equally.

Management is considering the discontinuance of the manufacture and sale of Product G at the beginning of the current year. The discontinuance would have no effect on the total fixed costs and expenses or on the sales of Products F and H.