Even though investing activities center on the long-term assets shown on the balance sheet, they also include any short-term investments shown under current assets on the balance sheet
Indicate whether the statement is true or false
T
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Use the following information to calculate cash paid for income taxes: Income tax expense$51,000? Income tax payable, January 1 10,000? Income tax payable, December 31 7500?
A. $58,500. B. $48,500. C. $51,000. D. $61,000. E. $53,500.
If an asset costs $41,000, has a residual value of $3,000, and has a useful life of five years, the entry to record depreciation in the second year using the double-declining-balance method is
A) debit to Depreciation Expense, 9,430; credit to Cash, 9,430. B) debit to Depreciation Expense, 9,840; credit to Accumulated Depreciation, 9,840. C) debit to Depreciation Expense, 10,250; credit to Accumulated Depreciation, 10,250. D) debit to Accumulated Depreciation, 10,660; credit to Depreciation Expense, 10,660.
The 2013 year-end balance in Accounts Receivable, Gross, for Healthy Lawn Maintenance is $1,085,000 An aging of these accounts receivable shows that the estimated uncollectible amount is $24,200 . Before aging the accounts, the Allowance for Uncollectibles has a debit balance of $15,000 from writing off actual accounts during 2013 . Healthy Lawn Maintenance would record the following adjusting
entry at the end of 2013 to obtain a credit balance in the Allowance for Uncollectibles of $24,200: a. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 b. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24,200 c. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 d. Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 Allowance for Uncollectibles . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . 39,200 e. Allowance for Uncollectibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000 Bad Debt Expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,000
According to Warren Bennis
A. the leader asks "what?" and "how?" while the manager asks "why?" and "how much?" B. the leader is charismatic, while the manager is a functionary bureaucrat. C. the leader develops, while the manager maintains. D. the leader orders, while the managers requests. E. the leader initiates, while the manager waits for directives.