Book value per share of stock represents the amount the shareholder will receive per share if the company is sold or liquidated
Indicate whether the statement is true or false
False
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If a fixed asset, such as a computer, were purchased on January 1 for $3,750 with an estimated life of 3 years anda salvage or residual value of $150, the journal entry for monthly expense under straight-line depreciation is
a. Accumulated Depreciation Depreciation Expense 1,200 1,200 b. Depreciation Expense Accumulated Depreciation 1,200 1,200 c. Accumulated Depreciation Depreciation Expense 100 100 d. Depreciation Expense Accumulated Depreciation 100 100
Which of the following best describes a type image?
A. A BPMN activity that allows a business process to branch based on type. B. A description attached to a UML association when there are multiple associations between classes. C. A UML class added to collect management information, such as category. D. A description attached to a BPMN gateway that clarifies the nature of the gateway.
Afonso is a customer service representative who determines his work behavior solely on whether he thinks he can do actions without receiving immediate punishment from his boss. According to Kohlberg, which of the following stages of moral development does Afonso's behavior exemplify?
A. preconventional stage B. righteous stage C. unconventional stage D. principled stage E. conventional stage
Houghton Company reports a deficit in current E&P of ($500,000) and a deficit in accumulated E&P of ($800,000). Houghton distributed $100,000 to its sole shareholder, Blossom Applegate, on December 31, 20X3. Blossom's tax basis in her Houghton stock is $50,000. What is the tax treatment of the distribution to Blossom, and what is her tax basis in Houghton stock after the distribution?
What will be an ideal response?