Accounting

A $15,000, 8%, 9-month note payable requires an interest payment of $900 at maturity, if no interest ...

A $15,000, 8%, 9-month note payable requires an interest payment of $900 at maturity, if no interest ...

A $15,000, 8%, 9-month note payable requires an interest payment of $900 at maturity, if no interest was previously paid.
 T or F?

gOOvER   127   2 Replies

leticia lopes

A $150,000 bond issue sold at 93.8 will cost:

A $150,000 bond issue sold at 93.8 will cost:

A $150,000 bond issue sold at 93.8 will cost:
A) whatever cost is negotiated.
B) $150,000.
C) $159,300.
D) $140,700.

tivo   113   2 Replies

tivo

A $2.00 increase in a product's variable expense per unit accompanied by a $2.00 increase in its ...

A $2.00 increase in a product's variable expense per unit accompanied by a $2.00 increase in its ...

[html]A $2.00 increase in a product's variable expense per unit accompanied by a $2.00 increase in its selling price per unit will:

▸ decrease the degree of operating leverage.

▸ decrease the contribution margin.

▸ have no effect on the break-even

zbuild007   63   1 Reply

damien03

A $200 payment on a notes payable posted as a debit to notes payable and a debit to cash. This error ...

A $200 payment on a notes payable posted as a debit to notes payable and a debit to cash. This error ...

A $200 payment on a notes payable posted as a debit to notes payable and a debit to cash. This error will cause:
A) the trial balance to be in balance.
B) the sum of the credits to exceed the sum of the debits by $400.
C) the sum of th

harra   75   2 Replies

harra

A $200,000, 8% bond issue was sold at face value and later redeemed at 110. The corporation would ...

A $200,000, 8% bond issue was sold at face value and later redeemed at 110. The corporation would ...

A $200,000, 8% bond issue was sold at face value and later redeemed at 110. The corporation would have a:
A) gain of $20,000.
B) loss of $8,000.
C) gain of $8,000.
D) loss of $20,000.

majestico   63   1 Reply

keytwo

A $25,000 bond issue with a stated interest rate of 5%, when the market rate of interest is 4%, ...

A $25,000 bond issue with a stated interest rate of 5%, when the market rate of interest is 4%, ...

A $25,000 bond issue with a stated interest rate of 5%, when the market rate of interest is 4%, means that the bond will sell for:
A) $25,000.
B) more than $25,000.
C) less than $25,000.
D) $35,000.

tivo   81   2 Replies

tivo

A $250 payment on account was recorded as a debit to accounts receivable and a credit to accounts ...

A $250 payment on account was recorded as a debit to accounts receivable and a credit to accounts ...

A $250 payment on account was recorded as a debit to accounts receivable and a credit to accounts payable. This error will cause:
A) accounts receivable to be overstated.
B) accounts payable to be understated.
C) cash to be understated

harra   84   1 Reply

Hanoi

A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020. The journal entry to ...

A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020. The journal entry to ...

A $250,000 issue of bonds that sold for $275,000 matures on June 25, 2020. The journal entry to record the payment of the bond on the maturity date is to:
A) debit Cash, $250,000; credit Bonds payable, $250,000.
B) debit Bonds payable, $250

bravata   103   2 Replies

bravata

A $300 receipt of cash on account was recorded as a $500 debit to cash and a $500 credit to accounts ...

A $300 receipt of cash on account was recorded as a $500 debit to cash and a $500 credit to accounts ...

A $300 receipt of cash on account was recorded as a $500 debit to cash and a $500 credit to accounts receivable. This error will cause:
A) cash to be overstated $200.
B) cash to be understated $500.
C) cash to be understated by $800.

gOOvER   82   2 Replies

gOOvER

A $300,000 bond issue sold at 105 will cost:

A $300,000 bond issue sold at 105 will cost:

A $300,000 bond issue sold at 105 will cost:
A) $300,000.
B) $315,000.
C) $285.000.
D) whatever cost is negotiated.

tivo   551   9 Replies

Brady Mang

A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash ...

A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash ...

A $375 purchase of supplies on account was recorded by debiting Supplies for $375 and crediting Cash for $375. The entry needed to correct this error is:
A) Debit Accounts Payable for $375 and credit Cash for $375.
B) Debit Accounts Receiva

tivo   853   10 Replies

jhiggins619

A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015. The journal entry to ...

A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015. The journal entry to ...

A $400,000 issue of bonds that sold for $363,000 matures on August 1, 2015. The journal entry to record the payment of the bond on the maturity date is to:
A) debit Cash, $400,000; credit Bonds payable, $400,000.
B) debit Bonds payable, $40

bravata   103   1 Reply

largerthanlife

A $45,000, 10%, 90-day note payable comes to maturity. The amount to be paid at maturity including ...

A $45,000, 10%, 90-day note payable comes to maturity. The amount to be paid at maturity including ...

A $45,000, 10%, 90-day note payable comes to maturity. The amount to be paid at maturity including interest is $43,890.41.
 T or F?

harra   212   1 Reply

raovatallpy

A $5,000 bond issue with a stated interest rate of 8%, when the market rate of interest is 8%, means ...

A $5,000 bond issue with a stated interest rate of 8%, when the market rate of interest is 8%, means ...

A $5,000 bond issue with a stated interest rate of 8%, when the market rate of interest is 8%, means that the bond will sell for:
A) the maturity value.
B) $5,000.
C) more than $5,000.
D) less than $5,000.

bravata   80   2 Replies

bravata

A $5,000 unfavorable flexible-budget variance indicates that ________.

A $5,000 unfavorable flexible-budget variance indicates that ________.

A $5,000 unfavorable flexible-budget variance indicates that ________.
A) the flexible-budget amount exceeded actual variable manufacturing overhead by $5,000
B) the actual variable manufacturing overhead exceeded the flexible-budget amoun

jerico   350   3 Replies

cyborg

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The amount of the ...

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The amount of the ...

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The amount of the discount (using a 360-day year) is:
A) $124.89.
B) $191.16
C) $82.41.
D) $119.16.

Fast2F   80   2 Replies

Fast2F

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The number of days in ...

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The number of days in ...

A $5,500, 10% note dated May 20 for 78 days was discounted on June 23 at 12%. The number of days in the discount period is:
A) 44 days.
B) 39 days.
C) 78 days.
D) some other number.

majestico   90   2 Replies

majestico

A $50 collection on account was posted as a debit to cash and a debit to accounts receivable. This ...

A $50 collection on account was posted as a debit to cash and a debit to accounts receivable. This ...

A $50 collection on account was posted as a debit to cash and a debit to accounts receivable. This error will cause:
A) the trial balance to be in balance.
B) the sum of the credits to exceed the sum of the debits by $100.
C) the sum o

gOOvER   70   1 Reply

raovatallpy

A $500 rent bill received for the current period that will be paid in the following period would ...

A $500 rent bill received for the current period that will be paid in the following period would ...

A $500 rent bill received for the current period that will be paid in the following period would include a:
A) debit to accounts payable for $500.
B) credit to rent expense for $500.
C) debit to rent expense for $500.
D) credit to

harra   43   1 Reply

migrod

A $525 collection on a note from a customer was reflected on Ronaldo Co's bank statement. When ...

A $525 collection on a note from a customer was reflected on Ronaldo Co's bank statement. When ...

A $525 collection on a note from a customer was reflected on Ronaldo Co's bank statement. When doing the bank reconciliation, Ronaldo Co. should:
A) add $525 to the bank balance.
B) subtract $525 from the bank balance.
C) add $525

bravata   384   1 Reply

antonio_john

A $54,000, four-month, 12% note payable was issued on October 1, 2017. Which of the following would ...

A $54,000, four-month, 12% note payable was issued on October 1, 2017. Which of the following would ...

A $54,000, four-month, 12% note payable was issued on October 1, 2017. Which of the following would be included in the journal entry required on the note's maturity date by the borrower? (Do not round any intermediate calculations, and round you

H3Ko   732   2 Replies

H3Ko

A $75 payment for rent expense was posted as a debit to salary expense and a credit to cash. This ...

A $75 payment for rent expense was posted as a debit to salary expense and a credit to cash. This ...

A $75 payment for rent expense was posted as a debit to salary expense and a credit to cash. This error will cause:
A) the trial balance to be in balance.
B) the sum of the credits to exceed the sum of the debits by $75.
C) the sum of

gOOvER   142   1 Reply

Kryzen

A "Crummey demand power" in a trust document allows the donor to demand a distribution ...

A "Crummey demand power" in a trust document allows the donor to demand a distribution ...

A "Crummey demand power" in a trust document allows the donor to demand a distribution from the trust in years in which earnings exist within the trust.
 T or F?

Mandarini   79   1 Reply

genflynn

A "dual opinion" audit is one where A.The auditors render an opinion on the pri

A "dual opinion" audit is one where A.The auditors render an opinion on the pri

A "dual opinion" audit is one where
A.   The auditors render an opinion on the primary government and any component units.
B.   The auditors render an opinion on both the basic financial statements and the combining and individual fun

goji.go   476   1 Reply

f_zah1

A "relevant cost" is best described by which of the following?

A "relevant cost" is best described by which of the following?

A "relevant cost" is best described by which of the following?
A) Costs that were incurred in the past and cannot be changed
B) A factor that restricts production or sales of a product
C) Cost of developing, producing, and de

bernie2981   624   2 Replies

bernie2981

A "what-if" technique that examines how a result will change if the original predicted data are NOT

A "what-if" technique that examines how a result will change if the original predicted data are NOT

A "what-if" technique that examines how a result will change if the original predicted data are NOT achieved or if an underlying assumption changes is called ________.
A) sensitivity analysis
B) net present value analysis
C

jerico   356   2 Replies

jerico

A "zero balance check" refers to which of the following control procedures?

A "zero balance check" refers to which of the following control procedures?

A "zero balance check" refers to which of the following control procedures?
A) a type of batch total
B) cross-footing the payroll register
C) the payroll clearing account shows a zero balance once all entries are posted

barry   352   1 Reply

newstart

A 10 percent decrease in sales volume will result in a

A 10 percent decrease in sales volume will result in a

[html]A 10 percent decrease in sales volume will result in a

▸ 10 percent decrease in total variable cost.

▸ 10 percent increase in per unit variable cost.

▸ 10 percent increase in total variable cost.

▸ 10 percent decrease in per unit variable c

Trey4sho   23   1 Reply

anikamazumder

A 10 percent increase in sales volume will result in

A 10 percent increase in sales volume will result in

A 10 percent increase in sales volume will result in

▸ a 10 percent decrease in per unit fixed cost.

▸ a 10 percent increase in total fixed cost.

▸ no change in total fixed cost.

▸ a 10 percent increase in per unit fixed cost.

bennick   25   1 Reply

navgil

A 10 percent increase in sales volume will result in a

A 10 percent increase in sales volume will result in a

[html]A 10 percent increase in sales volume will result in a

▸ 10 percent increase in unit variable cost.

▸ 10 percent decrease in total variable cost.

▸ 10 percent increase in total variable cost.

▸ 10 percent decrease in unit variable cost.[/ht

OlKu   29   1 Reply

Cow5215

A 10% increase in production volume will result in a ________.

A 10% increase in production volume will result in a ________.

A 10% increase in production volume will result in a ________.
A) 10% increase in the variable cost per unit
B) 10% increase in total mixed costs
C) 10% increase in total administration costs
D) 10% increase in total variable costs

Morgs   48   2 Replies

Morgs

A 10% six month note receivable for the principal amount of $1,000 will earn interest revenue of ...

A 10% six month note receivable for the principal amount of $1,000 will earn interest revenue of ...

A 10% six month note receivable for the principal amount of $1,000 will earn interest revenue of $100.
 T or F?

gOOvER   119   1 Reply

migrod

A 10-year note payable to be repaid in equal payments throughout the 10-year period, would be listed ...

A 10-year note payable to be repaid in equal payments throughout the 10-year period, would be listed ...

A 10-year note payable to be repaid in equal payments throughout the 10-year period, would be listed on the Balance Sheet as:
A) a current liability only.
B) a long-term liability only.
C) partly a current liability with the balance li

tivo   87   2 Replies

tivo

A 100% audit risk is complete certainty.

A 100% audit risk is complete certainty.

A 100% audit risk is complete certainty.

▸ true

▸ false

mregueral   36   1 Reply

mooltipas

A 12-month, 8% note dated August 1, 2013 for $5,000 would have accrued interest payable on December ...

A 12-month, 8% note dated August 1, 2013 for $5,000 would have accrued interest payable on December ...

A 12-month, 8% note dated August 1, 2013 for $5,000 would have accrued interest payable on December 31, 2013 of $166.67.
Is this statement one that's true or false?

tivo   177   2 Replies

tivo

A 135-day note issued on May 17 will mature on:

A 135-day note issued on May 17 will mature on:

A 135-day note issued on May 17 will mature on:
A) September 28.
B) September 29.
C) September 30.
D) October 1.

bravata   177   1 Reply

largerthanlife

A 15% increase in production volume will result in a ________.

A 15% increase in production volume will result in a ________.

A 15% increase in production volume will result in a ________.
A) 15% increase in total mixed costs
B) 15% increase in total variable costs
C) 15% increase in the variable cost per unit
D) 15% increase in total administration cost

Deprecated   254   2 Replies

Deprecated

A 16 year old hacker was able to access the systems of U.S. Missile Command and accidently launched ...

A 16 year old hacker was able to access the systems of U.S. Missile Command and accidently launched ...

A 16 year old hacker was able to access the systems of U.S. Missile Command and accidently launched a small nuclear missile, which fortunately, failed to detonate.

• true

• false

kaarnold98   116   1 Reply

Brittany08196

A 2-for-1 stock split will:

A 2-for-1 stock split will:

A 2-for-1 stock split will:
A) double the number of shares of stock and double the par value per share.
B) double the number of shares of stock and halve the par value per share.
C) halve the number of shares of stock and halve the par

tivo   83   2 Replies

tivo

A 20-month insurance policy was purchased for $1,500 on May 1. How much insurance will be expensed ...

A 20-month insurance policy was purchased for $1,500 on May 1. How much insurance will be expensed ...

A 20-month insurance policy was purchased for $1,500 on May 1. How much insurance will be expensed on December 31?
A) $1,500
B) $75
C) $300
D) $600

bravata   144   1 Reply

antonio_john