Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Question
in the month of may, wiki enterprises wrote checks in the amount of $11,450. in june, checks in the amount of $14,321 were written. in may, $9,248 of these checks were presented to the bank for payment, and $12,890 were presented in june. if no checks were outstanding at the end of april, what is the amount of outstanding checks at the end of may?
a.$1,431
b.$3,642
c.$3,633
d.$2,202
Answer
This answer is hidden. It contains 1 characters.
Related questions
Q:
cha li lao company wants to purchase equipment with a 3-year useful life, which is expected to produce cash inflows of $15,000 each year for two years, and $9,000 in year 3 . woods has a 14% cost of capital, and uses the following factors. what is the present value of these future cash flows?a.$26,130b.$30,780c.$30,870d.$34,750
Q:
use the following table,a company has a minimum required rate of return of 10% and is considering investing in a project that requires an investment of $99,000 and is expected to generate cash inflows of $42,000 at the end of each year for three years. the present value of future cash inflows for this project isa.$99,000b.$104,454c.$114,898d.$5,454
Q:
jp company is considering two capital investment proposals. estimates regarding each project are provided below:the company requires a 11% rate of return on all new investments.the net present value for project charlie isa.$600,802b.$802c.$100,000d.$178,900
Q:
crea company is considering buying a machine for $54,000 with an estimated life of ten years and no salvage value. the straight-line method of depreciation will be used. the machine is expected to generate cash inflow of $6,000 each year. the cash payback on this investment is a.15 years b.10 years c.9 years d.4.5 years
Q:
the higher the rate of return for a given risk, the a.more attractive the investment b.less attractive the investment c.higher the cost of capital d.higher the hurdle rate
Q:
lawson co. is considering purchasing a new machine which will cost $350,000, but which will decrease costs each year by $100,000. the useful life of the machine is 10 years. the machine would be depreciated straight-line with no residual value over its useful life at the rate of $35,000/year. the cash payback period is a.7.0 years b.3.5 years c.3.2 years d.10.0 years
Q:
what will most likely occur if a company eliminates an unprofitable segment when a portion of fixed costs are unavoidable? a.all expenses of the eliminated segment will be eliminated b.net income will decrease c.net income will increase d.the company's variable costs will increase
Q:
flint company expects income of $3,000 per year over the life of an investment that will cost $25,000. the calculation of the accounting rate of return is .16 . the rate of return indicates that a.flint expects to earn 16% of $3,000 as profit each year the asset is used b.flint expects to earn 16% of its investment annually c.flint expects to earn 16% of its cash outlay back over the life of the asset d.flint expects the asset will earn 16 times as much profit as its cost
Q:
sardine kitchen company produces three sizes of crock pots: small, medium, and large. a condensed segmented income statement for a recent period follows:assume none of the fixed expenses for the small size crock pot are avoidable. what will be total net income if the line is dropped?a.$47,000b.$13,000c.$8,000d.$55,000
Q:
spencer company is contemplating the replacement of an old machine with a new one. the following information has been gathered:if the old machine is replaced, it can be sold for $120,000.which of the following amounts is a sunk cost?a.$167,000b.$151,500c.$220,000d.$170,000
Q:
a company is considering replacing old equipment with new equipment. which of the following is a relevant cost for incremental analysis? a.annual depreciation charge on the old equipment b.book value of the old equipment c.estimated annual depreciation of the new equipment d.cost of the new equipment
Q:
the focus of a sell or process further decision is a.incremental revenue b.incremental cost c.both incremental revenue and incremental cost d.neither incremental revenue nor incremental cost
Q:
a company is deciding on whether to replace some old equipment with new equipment. which of the following is not a relevant cost for incremental analysis? a.annual operating cost of the new equipment b.annual operating cost of the old equipment c.net cost of the new equipment d.accumulated depreciation on the old equipment
Q:
calico company is starting business and is unsure of whether to sell its product assembled or unassembled. the unit cost of the unassembled product is $90 and calico company would sell it for $180. the cost to assemble the product is estimated at $36 per unit and calico company believes the market would support a price of $232 on the assembled unit. what is the correct decision using the sell or process further decision rule? a.sell before assembly, the company will be better off by $36 per unit b.sell before assembly, the company will be better off by $52 per unit c.process further, the company will be better off by $52 per unit d.process further, the company will be better off by $16 per unit
Q:
renee company has old inventory on hand that cost $12,000. its scrap value is $16,000. the inventory could be sold for $40,000 if manufactured further at an additional cost of $12,000. what should renee do? a.sell the inventory for $16,000 scrap value b.dispose of the inventory to avoid any further decline in value c.hold the inventory at its $12,000 cost d.manufacture further and sell it for $40,000
Q:
an increase in an expense: a.increases revenues b.increases assets c.decreases liabilities d.decreases owner's equity
Q:
the acer company has five plants nationwide that cost $60 million. the current market value of the plants is $190 million. the plants will be recorded and reported as assets at: a.$60 million b.$250 million c.$190 million d.$130 million
Q:
villa company purchased raw materials for $200,000. if this represents a $5,000 unfavorable price variance, what is the amount debited to raw materials inventory in the entry that records this acquisition? a.$195,000 b.$200,000 c.$205,000 d.either (a) or (b)
Q:
which of the following is true with regard to budgeting vs. long-range planning? a.budgeting is oriented more toward short-term goals; long-range planning toward long-term goals b.both tend to be very detailed c.the maximum length for both usually is a year, with shorter periods of time also common d.they are the same in all significant aspects
Q:
a flexible budget: a.is, in essence, a series of static budgets at different levels of activity b.can be prepared for each of the types of budgets included in a master budget c.increases budget allowances both directly and proportionately for variable costs as production increases d.all of the above
Q:
manufacturing costs in beginning work in process are ignored in computing the cost of units transferred out and the cost of ending work in process.
Q:
which of the following is not an important element of jit (just in time) processing? a.a company must have dependable suppliers who are willing to deliver on short notice exact quantities of raw materials according to precise quality specifications b.a company must have a multiskilled work force, so that one worker can have the responsibility to operate and maintain several different types of machines c.a process cost accounting system must be in place d.a total quality control system must be established throughout the manufacturing operations
Q:
variable costs, as activity increases, will: a.increase per unit b.increase in total c.remain constant per unit d.both b. and c. above are correct
Q:
a job order cost system would most likely be used by a(n): a.cement manufacturer b.paint manufacturer c.automobile manufacturer d.specialty printing company
Q:
the major activities of managerial accounting include all of the following except: a.providing a basis for controlling costs by comparing actual results with planned objectives b.determining the behavior of costs as activity levels change c.preparing internal reports for management d.preparing financial statements designed primarily for stockholders and creditors
Q:
one cost which is part of both manufacturing overhead and total manufacturing costs is: a.selling and administrative costs b.direct materials c.factory utilities d.direct labor
Q:
the cost of a patent should be amortized over a.20 years b.its useful life c.the longer of its legal life or its useful life d.the shorter of its legal life or its useful life
Q:
randall company bought real estate, on which there was an old office building, for $400,000. it paid $30,000 in cash as a down payment and signed an 8% mortgage for the remainder. it immediately had the old building razed at a net cost of $25,000. attorneys were paid $8,000 in connection with the land purchase and an additional $4,000 in connection with permits and zoning variances necessary for randalls new office building. $25,000 was paid for excavation for the basement of the new building, $1,600,000 was paid for construction of the new building, and $55,000 was paid for a parking lot and necessary walkways and driveways. for how much should the land be recorded? a.$433,000 b.$400,000 c.$425,000 d.$403,000
Q:
the ending inventory of whitlow company, which uses a periodic inventory system, was understated $14,000 on december 31, 2014, and overstated $6,000 on december 31, 2015 . because of these errors, 2015 net income was a.overstated $20,000 b.understated $8,000 c.overstated $6,000 d.understated $20,000
Q:
a sales journal is used to record a.only cash sales of merchandise b.only credit sales of merchandise c.sales of all assets on credit and for cash d.credit sales of merchandise, sales returns and allowances, and sales discounts