On January 2, year 4, Farm Co. granted an employee an option to purchase 1,000 shares of Farm's common stock at $40 per share. The option became exercisable on December 31, year 4, after the employee had completed one year of service, and was exercised on that date. The market prices of Farm's stock were as follows: January 2, year 4: $50 December 31, year 4: $65 Farm uses the intrinsic method of accounting for stock option plans. What amount should Farm recognize as compensation expense for year 4

When earning simple interest on money you invest, which statement is true? a. as time goes on and your bank account grows, you earn more interest. b. as time goes on and your bank account grows, you earn less interest. c. as time goes on and your bank account grows, you earn the same amount of interest. d. as time goes on and your bank account grows, you stop earning interest.

Which of the following best describes biochemical evidence that would not support the modern concept of evolution? a. a bacterium that uses inorganic materials to produce energy b. an organism that does not undergo cellular respiration c. a species of bacteria that is capable of photosynthesis d. an organism that undergoes both aerobic and anaerobic respiration

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.