A corporation uses the indirect method for preparing the statement of cash flows. a fixed asset has been sold for $25,000 representing a gain of $4,500. the value in the operating activities section regarding this event would be

Tabitha shares a flea market booth with her sister. Her share of the rent is $150 per month. She is considering moving to her own, larger booth which she will not have to share with anyone. The larger booth rents for $450 per month.

Prices act as signals in markets. if the price of a good increases due to an increase in demand, this is a signal to producers to:

Why are checking accounts called demand deposits

Sahara Company's Cash account shows an ending balance of $850. The bank statement shows a $28 service charge and an NSF check for $100. A $240 deposit is in transit, and outstanding checks total $340. What is Sahara 's adjusted cash balance?

Wims, Inc., has current assets of $3,900, net fixed assets of $26,500, current liabilities of $3,400, and long-term debt of $7,500. a. What is the value of the shareholders' equity account for this firm?

According to a summary of the payroll of Scotland Company, total salaries were $500,000. Assume that social security taxes are payable at a 6% rate and Medicare taxes are payable at a 1.5% rate with no maximum earnings.

The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 652,000 Direct labor cost $ 81,000 Raw material purchases $ 133,000 Selling expenses $ 102,000 Administrative expenses $ 43,000

At a volume of 8,000 units, Pwerson Company incurred $32,000 in factory overhead costs, including $12,000 in fixed costs.

Three identical homes in a neighborhood were listed at the same time in a market where demand was constant. According to the law of supply and demand, which would have sold for the lowest price?

would frozen vegetables be considered a normal or inferior good?