INTERMEDIATE ACCOUNTING 17E - UNC CHARL
17th Edition
ISBN: 9781119631828
Author: Kieso
Publisher: WILEY
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Smith Enterprises started the year with total assets
of $300,000 and total liabilities of $120,000. During
the year, the business recorded $250,000 in
revenues, $140,000 in expenses, and dividends of
$50,000. Stockholders' equity at the end of the year
was:
A. $240,000
B. $180,000
C. $200,000
D. $130,000
Deltacorp Manufacturing is developing direct labor standards. The basic direct labor wage rate is $12.50 per hour. Employment taxes are 8% of the basic wage rate. Fringe benefits are $3.80 per direct labor hour. The standard rate per direct labor-hour should be: a. $6.75 b. $5.80 c. $12.50 d. $17.30
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