Mineral streaks are acceptable if they do not 

Cylinders used to transport and store acetylene

Aluminum-pigment in dope is used primarily to 

Which of the following is a limitation of “general-purpose financial statements”?

Black Cat Company began the year with a credit balance in the Refund Liability account of $48,000.  Credit sales during the year were $725,000.  Black Cat customers made cash payments on account of $694,000.  During the year, customers returned $36,000 worth of goods.  Black Cat estimates that 6% of credit sales will be returned.  What is the balance in Black Cat’s Refund Liability account at the end of the year?

Falcon Company purchased a depreciable asset for $175,000. The estimated salvage value is $14,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset?

Which of the following statements is true regarding impairment losses on intangible assets in use?

The trial balance before adjustment of Risen Company reports the following balances:     Dr.           Cr.       Accounts receivable     $ 300,000 Allowance for doubtful accounts $ 5,000 Instructions (a)   Prepare the entry for estimated bad debts, assuming that doubtful accounts are estimated to be 6% of gross accounts receivable. Show journal entry:     (b)   Assume that all the information above is the same, except that the Allowance for Doubtful Accounts has a debit balance of $5,000 instead of a credit balance.  How will this difference affect the journal entry in part (a)? Show journal entry:      

If the value of a unit of inventory has declined below its original cost, but the replacement cost exceeds net realizable value, the amount to be used for purposes of inventory valuation is

Thompson Auto Repair Shop needed to take out a line of credit for 3 months. They borrowed $50,000 at a simple interest rate of 12% APR.  What amount of interest did the company pay on the line?