PPG Industries is a producer of glass for windows. It likely sells its products in the consumer market
Indicate whether the statement is true or false
FALSE
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A company issued 8%, 15-year bonds with a par value of $550,000 that pay interest semiannually. The market rate on the date of issuance was 8%. The journal entry to record each semiannual interest payment is:
A. Debit Bond Interest Payable $22,000; credit Cash $22,000. B. Debit Bond Interest Expense $44,000; credit Cash $44,000. C. Debit Bond Interest Expense $22,000; credit Cash $22,000. D. Debit Bond Interest Expense $550,000; credit Cash $550,000. E. No entry is needed, since no interest is paid until the bond is due.
A histogram is
a. a graphical presentation of a frequency or relative frequency distribution b. a graphical method of presenting a cumulative frequency or a cumulative relative frequency distribution c. the history of data elements d. the same as a pie chart
Explain the transaction log. What is its function?
Kerry is single and has AGI of $25,000 in 2018. During the year he contributes $5,000 to his Roth IRA. What is the amount of qualified retirement savings contributions credit to which he is entitled?
A) $200 B) $400 C) $800 D) $1,000