A debt instrument indicating that a corporation has borrowed a certain amount of money and promises to repay it in the future under clearly defined terms is called a(n) ________
A) common stock
B) corporate bond
C) indenture
D) preferred stock
B
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If Mussel Company has working capital of $540,000 and a current ratio of 3 to 1, the amount of current assets is:
a. $540,000 b. $810,000 c. $270,000 d. $405,000
The merchandise budget plan
A. uses a weighted-average score for each vendor. B. identifies the performance of individual SKUs in the assortment plan. C. compares actual and planned sales to determine whether more merchandise is needed. D. is used to keep track of the actual merchandise flows. E. specifies the level of inventory needed to support the sales.
Michael has decided to invest $40,000 in three types of funds. Fund A has projected an annual return of 8 percent, Fund B has projected an annual return of 10 percent, and Fund C has projected an annual return of 9 percent. He has decided to invest no more than 30 percent of the total amount in Fund B and no more than 40 percent of the total amount in Fund C. a. Formulate a linear programming model that can be used to determine the amount of investments Michael should allocate to each type of fund to maximize the total annual return.b. How much should be allocated to each type of fund? What is the total annual return?
What will be an ideal response?
The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts: Accounts receivable$435,000DebitAllowance for Doubtful Accounts 1,250CreditNet Sales 2,100,000CreditAll sales are made on credit. Based on past experience, the company estimates 3.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $15,225; credit Allowance for Doubtful Accounts $15,225. B. Debit Bad Debts Expense $17,350; credit Allowance for Doubtful Accounts $17,350. C. Debit Bad Debts Expense $7,350; credit Allowance for Doubtful Accounts $7,350. D. Debit Bad Debts Expense $16,475; credit Allowance for Doubtful Accounts $16,475. E. Debit Bad Debts Expense $13,975; credit Allowance for Doubtful Accounts $13,975.