Sheridan Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2160 shares of Ayayai Company (10%) for $55080 cash. June 1 Received cash dividends of $2 per share on Ayayai stock. Oct. 1 Sold 1170 shares of Ayayai stock for $31590. The entry to record the purchase of the Ayayai stock would include a debit to Stock Investments for $49572. debit to Investment Expense for $5508. debit to Stock Investments for $55080. credit to Cash for $49572.

Select the correct answer the smith family adopted a child. the adoption procedure took about three months, and the family incurred various expenses. will the smiths receive and financial benefit for the taxable year? a) they will not receive any financial benefit for adopting the child b) their income tax component will decrease c) they will receive childcare grants d) they will receive a tax credit for the cost borne for adopting the child e) they will receive several tax deductions

The cost of direct labor used in production is recorded as a? a. credit to work-in-process inventory account. b. credit to wages payable. c. credit to manufacturing overhead account. d. credit to wages expense.

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan