9. Which of the following is FALSE? a. Amounts withheld from employees in connection with payroll often represent liabilities to be remitted to third parties. b. A customer advance produces a liability that is satisfied when the product or service is provided. c. An asset for a gain contingency should not be accrued unless it is probable that the gain contingency will be realized. d. all of the above are false e. all of the above are true
Answers: 2
Business, 21.06.2019 20:30, Felici6086
Partnerships are the most common type of business firms in the world. t/f
Answers: 3
Business, 23.06.2019 02:20, FatCatcreator
Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6
Answers: 1
9. Which of the following is FALSE? a. Amounts withheld from employees in connection with payroll of...
Mathematics, 21.04.2020 19:03
English, 21.04.2020 19:03
History, 21.04.2020 19:03
History, 21.04.2020 19:03