Gauge Construction Company is making adjusting entries for the year ended March 31 of the current year. In developing information for the adjusting entries, the accountant learned the following:

a. The company paid $1,800 on January 1 of the current year to have advertisements placed in the local monthly neighborhood paper. The ads were to be run from January through June. The bookkeeper debited the full amount to Prepaid Advertising on January 1.
b. At March 31 of the current year, the following data relating to Construction Equipment were obtained from the records and supporting documents.

Construction equipment (at cost)$340,000
Accumulated depreciation (through March 31 of the prior year)132,000
Estimated annual depreciation for using the equipment34,000

Required:
1. Using the process illustrated in the chapter, record the adjusting entry for advertisements at March 31 of the current year.
2. Using the process illustrated in the chapter, record the adjusting entry for the use of construction equipment during the current year.
3. What amount should be reported on the current year's income statement for Advertising Expense? For Depreciation Expense?
4. What amount should be reported on the current year's balance sheet for Prepaid Advertising? For Construction Equipment (at net book value)?

Which of the following is an example of formal management controls? answers: a firm's culturethe willingness of employees to monitor each otherbudgeting and reporting activitiesmanagerial motivation

Why should managers invest any excess cash

Cooper sues company a in state court in south carolina, where he lives, for negligence alleging personal injury and property damage of $100,000 after a truck driven by an employee of company a rear-ended his pickup truck. company a is incorporated in delaware, has its headquarters in new york, but does a substantial amount of business in south carolina. claiming diversity of citizenship, company a seeks removal to federal district court, but cooper opposes the motion. which of the following is true regarding whether the case may be properly removed to federal district court? the amount in controversy satisfies diversity requirements; and if company a's nerve center is in a state other than south carolina, then the case may be properly removed to federal court. the amount in controversy satisfies diversity requirements; and because company a is incorporated and has its headquarters in a state other than south carolina, the case may be properly removed to federal court. because the amount in controversy satisfies diversity requirements and company a is incorporated in a state other than south carolina, the case may be properly removed to federal court regardless of where company a's headquarters, nerve center, or principal place of business is located. because the amount in controversy satisfies diversity requirements and company a is headquartered in a state other than south carolina, the case may be properly removed to federal court regardless of where company a is incorporated and regardless of the location of its nerve center. because the amount in controversy fails to satisfy jurisdictional requirements, regardless of the location of company a, the case may not be removed to federal court.