In a lease that is recorded as a finance- sales type lease by the lessor, interest revenue .a. should be recognized over the period of the lease using the effective interest method. b. should be recognized over the period of the lease using the straight-line method. c. should be recognized in full as revenue at the lease’s inception. d. does not arise.

Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.

Salaries are $4,500 per week for five working days and are paid weekly at the end of the day fridays. the end of the month falls on a thursday. the accountant for dayton company made the appropriate accrual adjustment and posted it to the ledger. the balance of salaries payable, as shown on the adjusted trial balance, will be a (assume that there was no beginning balance in the salaries payable account.)

You hear your supervisor tell another supervisor that a fire drill will take place later today when the fire alarm sounds that afternoon you should