David started a public accounting firm. David is concerned that accountants on his staff may give incorrect accounting advice, and the accounting firm may be sued. What type of liability insurance should David purchase to protect against such claims?

Shade Company adopted a standard cost system several years ago. The standard costs for direct labor and direct materials for its single product are as follows: Materials (5 kilograms × $12/kilogram) = $60/unit; direct labor (3.5 hours/unit × $20/hour) = $70/unit. All materials are issued at the beginning of processing. The operating data shown below were taken from the records for December:

In-process beginning inventory None In-process ending inventory—80% complete as to labor 1,110units Units completed during the period 7,000units Budgeted output 7,650units Purchases of materials (in kilograms) 47,500 Total actual direct labor cost incurred$554,120 Direct labor hours worked (AQ) 28,000hours Materials purchase-price variance$9,025favorable Increase in materials inventory in December 5,300kilograms The direct materials usage variance for December, to the nearest dollar, was:

The Amazing Widget Company issues $539,000 of 7%, 10-year bonds at 104 on March 31, 2017

The bonds pay interest on March 31 and September 30. Assume that the company uses the straight-line method for amortization. The journal entry to record the issuance includes a ________. A) debit to Cash for $539,000 B) credit to Bonds Payable for $560,560 C) debit to Premium on Bonds Payable for $21,560 D) debit to Cash for $560,560