When a cash disbursement in payment of an accounts payable is recorded
a. the liability account is increased
b. the income statement is changed
c. the cash account is unchanged
d. the liability account is decreased
D
You might also like to view...
The salary allocation to partners used in dividing net income would also appear as salary expense on the partnership income statement
a. True b. False Indicate whether the statement is true or false
Identify and explain the five requisite functions.
What will be an ideal response?
Crystal Glassware Company issues $1,042,000 of its 14%, 10-year bonds at 97 on February 28, 2019. The bonds pay interest on February 28 and August 31. Assume that Crystal uses the straight-line method for amortization. What net amount will be reported for the bonds on the August 31, 2019 balance sheet?
A) $1,012,303 B) $1,042,000 C) $1,009,177 D) $1,010,740
How do employee perceptions of fairness affect motivation?