North Company has completed all of its operating budgets. The sales budget for the year shows 50,140 units and total sales of $2,294,200. The total unit cost of making one unit of sales is $24. Selling and administrative expenses are expected to be $304,600. Interest is estimated to be $10,000. Income taxes are estimated to be $221,000. Prepare a budgeted multiple-step income statement for the year ending December 31, 2017.

Wilson company paid $5,000 for a 4-month insurance premium in advance on november 1, with coverage beginning on that date. the balance in the prepaid insurance account before adjustment at the end of the year is $5,000, and no adjustments had been made previously. the adjusting entry required on december 31 is: (a) debit cash. $5,000: credit prepaid insurance. $5,000. (b) debit prepaid insurance. $2,500: credit insurance expense. $2500. (c) debit prepaid insurance. $1250: credit insurance expense. $1250. (d) debit insurance expense. $1250: credit prepaid insurance. $1250. (e) debit insurance expense. $2500: credit prepaid insurance. $2500.

Which of the following characteristics are emphasized in the accounting for state and local government entities? i. revenues should be matched with expenditures to measure success or failure of the government entity. ii. there is an emphasis on expendability of resources to accomplish objectives. a. i only b. ii only c. i and ii d. neither i nor ii

An essential element of being receptive to messages is to have an open mind true or false