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Question
Viscount Company collected $42,000 cash on its accounts receivable. The effects of this transaction as reflected in the accounting equation are:A.Total assets decrease and equity increases.
B.Both total assets and total liabilities decrease.
C.Total assets, total liabilities, and equity are unchanged.
D.Both total assets and equity are unchanged and liabilities increase.
E.Total assets increase and equity decreases.
Answer
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Related questions
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The predetermined overhead allocation rate is used to apply overhead cost to products.
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B.Proceeds from the sale (discounting) of notes receivable made by the company.
C.Proceeds from collecting the principal amount of notes receivable.
D.Payments to acquire held-to maturity securities of other entities, except cash equivalents.
E.All of these.
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What was the materials cost per equivalent unit produced during June? What was the labor and overhead cost per equivalent unit produced during June?
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B.Slacks for casual wear.
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E.Oil paintings.
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Q:
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B.direct costs - desired profit
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Q:
There are at least three different methods to estimate costs. These methods are the _______________, _______________, and _______________ methods.
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B.Incurs costs and directly generates revenues.
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B.Does not provide total unit cost data.
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D.Does not provide for the allocation of any cost to products that cannot be directly attributable to those products.
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B.A capital expenditures budget.
C.A budgeted income statement.
D.A cash budget.
E.All of these.
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A CVP graph presents data on:
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C.Factory buildings, delivery equipment, and depreciation on factory equipment.
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E.Direct labor, factory repairs and maintenance, wages payable.
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The following information is available for Hardy Co. for the current year: The total of Hardy Co.'s manufacturing costs added during the current year is:
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The following information is available for Talking Toys, Inc., for the current year: The total cost of goods manufactured for the year was:
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C.$15,800.
D.$13,000.
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