On may 1, ace bonding company purchased inventory costing $2,000 on account with terms 2/10, n/30. on may 18, ace pays for this inventory and records which of the following using a perpetual inventory system? a. accounts payable 2,000 cash 2,000 b. accounts payable 1,960 inventory 40 cash 2,000 c. accounts payable 2,000 inventory 40 cash 1,960 d. cash 2,000 accounts payable 2,000

Agovernment receives a gift of cash and investments with a fair value of $200,000. the donor specified that the earnings from the gift must be used to beautify city-owned parks and the principal must be re-invested. the $200,000 gift should be accounted for in which of the following funds? a) general fund b) private-purpose trust fund c) agency fund d) permanent fund

If an investment has 35 percent more nondiversifiable risk than the market portfolio, its beta will be:

Mordica company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $156,960, $382,800, and $84,640, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,180, machine hours 25,520, and number of inspections 1,840. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection