A leader who has no official leadership title is ______.
a. a manager
b. a role model
c. an informal leader
d. not part of an organization
c. an informal leader
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Benjamin Stone opened Stone's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books:1. Benjamin, the sole stockholder, invested $25,000 cash in the business in exchange for common stock. 2. Benjamin contributed $100,000 of equipment to the business in exchange for common stock. 3. The company paid $2,000 cash to rent office space for the month of March. 4. The company received $16,000 cash for repair services provided during March. 5. The company paid $6,200 for salaries for the month of March. 6. The company provided $3,000 of services to customers on account. 7. The company paid cash of $500 for utilities for the month of March. 8. The company received $3,100 cash in advance from a customer for
repair services to be provided in April. 9. The company paid Benjamin $5,000 cash as a dividend. Based on this information, total stockholder's equity reported on the balance sheet at the end of March would be: A. $8,400. B. $133,400. C. $13,500. D. $130,300. E. $125,300.
Each month, Bath & Body Works pays employees wages, telephone bills, and salaries to accountants. These are all considered
A. cost of goods sold. B. gross profit. C. sales allowances. D. operating expenses. E. current assets.
The qualitative characteristic that says accounting information can influence users' decisions by allowing them to assess past performance is:
A. Timeliness. B. Neutrality. C. Predictive value. D. Confirmatory value.
Sanders Enterprises arranged a revolving credit agreement of $9,000,000 with a group of banks. The firm paid an annual commitment fee of 0.5% of the unused balance of the loan commitment. On the used portion of the revolver, it paid 1.5% above prime for the funds actually borrowed on a simple interest basis. The prime rate was 3.25% during the year. If the firm borrowed $6,000,000 immediately after the agreement was signed and repaid the loan at the end of one year, what was the total dollar annual cost of the revolver?
A. $285,000 B. $300,000 C. $315,000 D. $330,750 E. $347,288