Chapter 11, Problem 11.5P

The balance in the printing supplies account on September 1 was $8,750, supplies purchased during September were $2,850, and the supplies on hand at September 30 were $2,200. The amount to be used for the appropriate adjusting entry is___. a. $6,700. b. $7,500. c. $9,400. d. $6,200.

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Lawson Corporation lists fixed assets of $250 on its balance sheet. The firm's fixed assets have recently been appraised at $390. The firm's balance sheet also lists current assets at $85. Current assets were appraised at $97.5. Current liabilities book and market values stand at $72 and the firm's long-term debt is $165. Calculate the market value of the firm's stockholder's equity. a. $104.50 b. $244.5 c. $250.5 d. $128.30 provide answer

Lumen Products, which uses the high-low method, had total costs of $32,000 at its lowest level of activity when 6,000 units were sold. At its highest level of activity, total costs were $50,000 when 11,000 units were sold. Lumen would estimate fixed costs as _. Need Answer

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