Briefly explain utility

The useful life of a plant asset is A) The length of time it is productively used in a company's operations B) Never related to its physical life C) Its productive life, not to exceed 1 year D) Determined by the FASB E) Determined by law

On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $48,000, has an eight-year useful life, and has no residual value.

The Botosan Factory has determined that its budgeted factory overhead budget for the year is $13,500,000 and budgeted direct labor hours are 10,000,000.

Morgan would like to purchase a bond that has a par value of $1,000, pays $80 at the end of each year in coupon payments, and has 10 years remaining until maturity.

Jan and Sam have all of their 2018 tax documents ready to bring to George to prepare their return. These documents include a W-2 for Jan ($52,300), a W-2 for Sam ($48,700), a state tax refund of $475, canceled debt income of $1,800 for Jan, and

Free market economy how are prices set?

Patel Service Co. does make a few sales on account but is mostly a cash business. Consequently, it uses the direct write-off method to account for uncollectible accounts. During Year 1, Patel Service Co.

Accepting a special order will improve overall net operating income if the revenue from the special order exceeds: a. the contribution margin on the order. b. the incremental costs associated with the order. c.

The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. is the left side of the account c. can be either side of the account depending on how the accountant set up the system d.

Universal Containers (UC) has a desktop application to collect leads for marketing campaigns. UC wants to extend this application to integrate with Salesforce to create leads.