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Under the cost method, dividends received from an investee company are credited to
the _______________ account, whereas under the equity method, dividends received
from an investee company are credited to the _______________ account.
Answer:
Identify which principle of internal control is being followed in each of the following
cases.
1> Warehouse employees do not have access to the accounting records.
2> Prenumbered shipping documents are prepared for each shipment of goods.
3> The locked warehouse is accessible only by warehouse employees with keys.
Answer:
The requirement that companies use the same cost flow assumption of all goods of a
similar nature is found in
Answer:
On April 25, Davis Company buys 4,200 shares of Carter common stock for $94,500. On
October 31, Davis sells 600 shares of Carter stock for $16,500,. Prepare journal entries for the
purchase and sale of the Carter common stock.
Answer:
Use the following income statement for the year 2015 for Belle Company to prepare
entries to close the revenue and expense accounts for the company.
Answer:
The times interest earned ratio is computed by dividing net income by interest expense.
Answer:
The decision to make long-term capital investments is best evaluated using discounting
techniques that recognize the time value of money.
Answer:
