At the end of the accounting period, Houston Company had $5400 of common stock, paid-in capital in excess of par value-common of $6400, retained earnings of $6500, and $2750 of treasury stock. What is the total amount of stockholders' equity?
A. $21,050
B. $15,550
C. $15,650
D. $9050
Answer: B
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Joe's Auto Company uses the accrual basis of accounting. Which situation violates the matching principle during 2012?
A) Sales commissions are charged to expense in 2012 on all sales revenue recognized in 2012 even though some of the commissions have not been paid. B) Insurance expense is recognized for the total cost of a 1-year policy purchased in May, 2012. C) Rent expenses are recognized as expenses in 2012 even though the last bill received in 2012 will not be paid until 2013. D) Sales commissions paid in 2012 for 2013 commissions are recorded as prepaid expenses for 2012.
As stated in the textbook, what skill is ranked most important among senior human relations professionals?
a. Oral communication b. Emotional intelligence c. Leadership d. Critical thinking
What effect is NAFTA having on the international trade of the following countries: United States, Canada, and Mexico?
What will be an ideal response?
Rattler, Inc, an exempt organization, trains disabled individuals to design web pages. Rather than hold a traditional graduation exercise, the graduates compete in a web design contest. Such activities are held four times each year. An admission fee of
$10 is charged to the general public to attend the contest. Eight hundred people attended the contest this year, and prizes of $2,000 were given to the top 3 graduates. Calculate the amount of Rattler's unrelated business income from this activity.