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Kennedy, Inc. reported the following dа ta: Net income $179,562 Depreciation expense 15,511 Loss on disposal of equipment 11,046 Gain on sale of building 21,801 Increase in accounts receivable 8,734 Decrease in accounts payable 3,109 Required:

Modern economic growth is defined as increases in real gdp over time. a. True b. False

Federal budget deficits generally grow during recessions because

A company estimates total overhead costs for the next year to be $1,200,000 and wishes to use direct labor hours as its overhead allocation base.

Gomez Corp. uses the allowance method to account for uncollectibles. On January 31, it wrote off an $800 account of a customer, C. Green. On March 9, it receives a $300 payment from Green. Record the cash receipt from Green.

Spencer Co. has a $350 petty cash fund. At the end of the first month the accumulated receipts represent $58 for delivery expenses, $187 for merchandise inventory, and $27 for miscellaneous expenses. The fund has a balance of $78.

Pita Pal sells fast-food franchises. Pita Pal receives $83,000 from a new franchisee for providing initial training, equipment, and furnishings that together have a stand-alone selling price of $83,000.

The accounts receivable credit column of the cash receipts journal is A. posted by individual amounts only at the end of the month. B. not posted. C. posted in summary only at the end of the month. D.

Country A has a population of 1,000, of whom 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of whom 1,800 work 6 hours a day to make 270,000 final goods. a.

Thirty-two new employees from Market Enterprises are attending orientation, receiving information about company policies, and filling out various forms. These employees comprise a group. 1. True2. False