Early adopters are more concerned with key functionality than complete feature sets
Indicate whether the statement is true or false
TRUE
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Vegas Finance Company reported the following: Common stock, $10 par, 100,000 shares authorized, 80,000 shares issued and outstanding What is the effect of issuing 1,000 shares of common stock at $15 per share?
a. Cash increases $10,000. b. Common Stock increases $15,000. c. Additional Paid-in Capital increases $5,000. d. Retained Earnings increases $5,000.
Scrubber, Inc presented the following information in a note to its financial statements for the year ending December 31, 2016: The company has a loan agreement with Mountain State Bank that states: 1 . The current ratio should remain at least 2.0 to 1 at all times. 2 . The debt-to-equity ratio should not exceed .7 to 1 at any time. 3 . The company must maintain $75,000 cash at all times. The
ratios at year-end are: current ratio, 2.3 to 1 and debt-to-equity ratio, .2 to 1 . The amount of cash on the bank statement is $75,400, but the cash account after the adjustments from the bank reconciliation has a balance of $74,900 . Has Scrubber violated its loan agreement? a. No b. Yes, the cash balance is less than $75,000. c. Yes, the current ratio is .3 or 30% larger than the agreement indicates. d. Yes, the cash balance is less than $75,000, and the debt-to-equity ratio is overstated.
If a case has settled and cannot be refiled, what is filed with the court?
a. Dismissal with prejudice b. Dismissal without prejudice c. Complaint d. Cross-complaint
Which of the following would probably NOT be required of employers to reasonably accommodate its employees for religious beliefs?
a. Flexible scheduling b. Closing the business on Sundays c. Reassigning employees within the company d. Allowing employees to switch work schedules