The following totals for the month of April were taken from the payroll register of Swifty Company. Salaries and wages $72500 FICA taxes withheld 5505 Income taxes withheld 14900 Medical insurance deductions 2660 Federal unemployment taxes 182 State unemployment taxes 1306 The journal entry to record the monthly payroll on April 30 would include a

Trendy Toy Company purchased 1,000 toys at a cost of $50 each. Trendy Toys has 200 toys in inventory at year-end with a net realizable value of $55 each. The ending inventory at lower-of-cost-or-net realizable value is

Recording depreciation each period is necessary in accordance with the

Understating beginning inventory will understate

If a company sells its accounts receivables to a factor,

Maggie Sharrer Company borrows $88,500 on October 1, 2020, from Sandwich State Bank by signing an $88,500, 12%, one-year note. What is the accrued interest at December 31, 2020?

If a plant asset is retired when it is fully depreciated and there is no salvage value,

Which of the following statements is true regarding inventory cost flow assumptions?

Villa Sales Company had the following amounts related to its business: Beginning inventory, $12,000; Purchases, $43,000; Net sales, $50,000; and Gross profit, $15,000. The amount of the ending inventory is

Which of the following is NOT intangible assets?