Multiplechoice question 154 correct if a plant aset

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MultipleChoice Question 154
If a plant aset is retired & is fully depreciated a gain on disposal will be recorded. phantm depreciation must be taken as though the asset were still on the books. a losson disposal will be recorded. no gan or loss on disposal will be recorded.
Multiple Choice Question 180 Incorrect. On July 1, 2014, Linden Company purchased the copyright to Norman Computer Tutorials for $140,000. It is estimated that the copyright will have a useful life of 5 years. The amount of Amortization Expense recognized for the year 2014 would be
Multiple Choice Question 120 Correct. The following totals for the month of April were taken from the payroll records of Metz Company. Salaries $30,000 FICA taxes withheld 2,295
Income taxes withheld 6,600 Medical insurance deductions 1,200 Federal unemployment taxes 240 State unemployment taxes 1,500 The entry to record accrual of employer’s payroll taxes would include a
Multiple Choice Question 242 Incorrect. Thayer Company purchased a building on January 2 by signing a long-term $2,520,000 mortgage with monthly payments of $23,100. The mortgage carries an interest rate of 10 percent. The amount owed on the mortgage after the first payment will be $2,517,900. $2,520,000. $2,496,900. $2,499,000.
Multiple Choice Question 96 Incorrect. The following data is available for BOX Corporation at December 31, 2014: Common stock, par $10 (authorized 30,000 shares) $250,000 Treasury stock (at cost $15 per share) $1,200 Based on the data, how many shares of common stock are outstanding?
Multiple Choice Question 144 Correct. Indicate the respective effects of the declaration of a cash dividend on the following balance sheet sections:
Multiple Choice Question 102 Correct. Assume the following cost of goods sold data for a company: 2015 $1,300,000 2014 1,200,000 2013 1,000,000 If 2013 is the base year, what is the percentage increase in cost of goods sold from 2013 to 2015?
Multiple Choice Question 179 Correct. A company has an average inventory on hand of $75,000 & its average days in inventory is 36.5 days. What is the cost of goods sold? $876,000 $1,680,000 $750,000 $1,752,000
Multiple Choice Question 199 Correct. The following information is available for Patterson Company: 2014 2013 Accounts receivable $ 360,000 $ 340,000 Inventory 280,000 320,000 Net credit sales 3,000,000 2,600,000 Cost of goods sold 1,500,000 840,000 Net income 300,000 170,000 The accounts receivable turnover for 2014 is

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