Homework Answers
Period cost include:
Answer : ( C ) Operating costs that are shown on the income statement in the period in which they are incurred.
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Period costs include Oa, current liabilities on the balance sheet Ob. current assets on the balance...
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance...
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance sheet Oc operating costs that are shown on the income statement in the period in which they are incurred Od operating costs that are shown on the income statement when products are sold O D ENG hp R. DE H K B N M M
Which balance sheet accounts are most affected by financing activities? X Oa. Long-term assets. Ob. Current...
Which balance sheet accounts are most affected by financing activities? X Oa. Long-term assets. Ob. Current liabilities. c. Long-term liabilities and stockholders' equity. Od. Current assets.
Which balance sheet accounts are most affected by financing activities? X Oa. Long-term assets. Ob. Current liabilities. c. Long-term liabilities and stockholders' equity. Od. Current assets.
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities...
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities Ob. subtracted from liabilities and the net amount is equal to assets Oc. added to liabilities and the two are equal to assets Od. added to assets and the two are equal to liabilities
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product...
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term...
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term debt Total current liabilities ====== Cash Accounts receivable Inventories Total current assets 5 15 41 84 Long-Term Assets Long-Term Liabilities O A. - $1 million OB. $6 million OC. $43 million OD. - $6 million Long-Term Assets Long-Term Liabilities Net property, plant, and equipment Total long-term assets 126 126 Long-term debt Total long term abilities 135 135 Total liabilities Stockholders' Equity Total liabilities and...
Which of the following accounts are debited to record increases? Oa. expenses and liabilities Ob. assets...
Which of the following accounts are debited to record increases? Oa. expenses and liabilities Ob. assets and liabilities Oc. assets and expenses Od. drawing and liabilities
Distinguish between inventorieblecons and period com OA Inventore include direct manufacturing more and direct marching could...
Distinguish between inventorieblecons and period com OA Inventore include direct manufacturing more and direct marching could overhead)cole and we expenses incurred frough the cost of goods sold out OB Inventore include materials and are recommend OC Inventore or loss of goods purchased that we were OD Inventore costs we cost of product that we considered as the balance when they were
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and...
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
1) 2) 3) 4) Which of the following will not be found on the balance sheet...
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Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
QUESTION 24 An income statement would not include OA discontinued operations. OB dividends paid. OC other...
QUESTION 24 An income statement would not include OA discontinued operations. OB dividends paid. OC other revenue and gains. OD extraordinary items. QUESTION 26 Generally, the most important category on the statement of cash flows is cash flows from OA operating activities. OB investing activities OC. financing activities OD. significant noncash activities
Period costs indude Oa. current liabilities on the balance sheet Ob. current assets on the balance sheet Oc operating costs that are shown on the income statement in the period in which they are incurred Od operating costs that are shown on the income statement when products are sold O D ENG hp R. DE H K B N M M
Which balance sheet accounts are most affected by financing activities? X Oa. Long-term assets. Ob. Current liabilities. c. Long-term liabilities and stockholders' equity. Od. Current assets.
Which balance sheet accounts are most affected by financing activities? X Oa. Long-term assets. Ob. Current liabilities. c. Long-term liabilities and stockholders' equity. Od. Current assets.
On the balance sheet, owner's equity is Oa. equal to the total of assets and liabilities Ob. subtracted from liabilities and the net amount is equal to assets Oc. added to liabilities and the two are equal to assets Od. added to assets and the two are equal to liabilities
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
Balance Sheet Assets Liabilities Current Liabilities Current Assets 49 36 20 Accounts payable Notes payable/short term debt Total current liabilities ====== Cash Accounts receivable Inventories Total current assets 5 15 41 84 Long-Term Assets Long-Term Liabilities O A. - $1 million OB. $6 million OC. $43 million OD. - $6 million Long-Term Assets Long-Term Liabilities Net property, plant, and equipment Total long-term assets 126 126 Long-term debt Total long term abilities 135 135 Total liabilities Stockholders' Equity Total liabilities and...
Which of the following accounts are debited to record increases? Oa. expenses and liabilities Ob. assets and liabilities Oc. assets and expenses Od. drawing and liabilities
Distinguish between inventorieblecons and period com OA Inventore include direct manufacturing more and direct marching could overhead)cole and we expenses incurred frough the cost of goods sold out OB Inventore include materials and are recommend OC Inventore or loss of goods purchased that we were OD Inventore costs we cost of product that we considered as the balance when they were
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
1)
2)
3)
4)
Which of the following will not be found on the balance sheet of a manufacturing company? Oa. work in process Ob. cost of goods sold Oc. finished goods Od. materials Jensen Company reports the following: Direct materials used Direct labor incurred Factory overhead incurred Operating expenses $345,000 250,000 400,000 175,000 Jensen Company's period costs are Oa. $400,000 Ob. $175,000 Oc. $250,000 Od. $345,000 The direct materials costs and direct labor costs incurred by a production department...
QUESTION 24 An income statement would not include OA discontinued operations. OB dividends paid. OC other revenue and gains. OD extraordinary items. QUESTION 26 Generally, the most important category on the statement of cash flows is cash flows from OA operating activities. OB investing activities OC. financing activities OD. significant noncash activities
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