At the conclusion of a closing, the trust account ledger card for that transaction should have a balance of zero.

Explain why two companies would want to join together in a merger or acquisition

What will be an ideal response?

Phelps Company manufactures custom-designed filtering equipment for swimming pools and tanks. In May 2014, the company had sales of $895,000 and incurred the following costs of quality: Product design costs $ 8,600 Product recall costs 5,200 Product simulation costs 13,500 Product testing costs 3,500 Product warranty claims 2,000 Scrap and rework costs 3,000 The total costs of quality as a

percentage of sales were A) 3.5% B) 4.0% C) 4.5% D) 5.0%