When you friend sells your car to make money, he is using it as a

If a company that was started this month has net income of $30,000, dividends of $4,000, and liabilities of $20,000, how much is ending retained earnings for the month?

Partners G and H form the GH partnership, with G contributing $200,000 cash and H contributing some land with a basis of $600,000 and a FMV of $900,000, subject to a nonrecourse liability of $700,000.

Alice, the global marketing director of a multinational electronic goods manufacturing firm, is assigned the task of expanding her firm in new markets.

Western company begins the year with $50,000 of inventory on hand. During 2018, western purchases additional inventory for $100,000 cash. Sales for the year, all on account, totaled $70,000.

A favorable direct materials cost variance occurs when the actual direct

Joe tells you, "I'm concerned that if a Theo Chocolate manager is doing something unethical, I'm not going to hear about it." He asks, "What can I do to encourage employees to speak up if they see something wrong?" What advice would you give him?

A company determines the cost of goods sold each time A. a sale occurs in a periodic inventory system only. B. a perpetual inventory system only. C. both a periodic and perpetual inventory system. D. neither a periodic nor perpetual inventory system.

Sarah, a manager at Ackles Inc, plays pranks on her subordinates in an attempt to make the workplace livelier. She trusts her subordinates and does not care much about the quality of their work.

On October 1, 2021, Oberley Corporation loans one of its employees $25,000 and accepts a 12-month, 8% note receivable. Calculate the amount of interest revenue Oberley will recognize in 2021 and 2022.

Loren and Kendra enter into a contract for the distribution of Loren's produce to local restaurants for which he agrees to pay Kendra. Kendra transfers her right to payment under the contract to County Bank. This transfer is a. an alienation b.