A list of the accounts used by a business is called the t chart debit listing chart of accounts journal

On July 31, O'Malley Company contracted to have two products built by Taylor Manufacturing for a total of $185,000. The contract specifies that payment will only occur after both products have been transferred to O'Malley Company.

All else equal, a dollar received sooner is worth more than a dollar received at some later date, because the sooner the dollar is received the more quickly it can be invested to earn a positive return. True False

Jayla just opened a fitness studio in her hometown. Since her goal is to become the leading fitness studio in the area, she approaches five of the most talented trainers at competitive gyms and offers them more money to come work for her.

Which accounting assumption or principle is being violated if a company is a party to major litigation that it may lose and decides not to include the information in the financial statements because it may have a negative impact on the company's

Assets Cash $ 68,400 Accounts receivable 35,600 Inventory 67,300 Buildings and equipment, net of depreciation 179,000 Total assets $ 350,300 Liabilities and Stockholders' Equity Accounts payable $ 155,600 Common stock 70,000 Retained earnings

You are evaluating two different silicon wafer milling machines. The Techron I costs $276,000, has a three-year life, and has pretax operating costs of $75,000 per year.

David is certified by his doctor as terminally ill with liver disease. His doctor certifies that he cannot reasonably be expected to live for more than a year. He sells his life insurance policy to Viatical Settlements, Inc., for $250,000.

Boney Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar beets costs $47 to buy from farmers and $12 to crush in the company's plant.

Understand payments involved with insurance. is a monthly payment is a payment to the policy is a payment to the doctor is a fixed payment for treatment

You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise.