In a corporation, the capital resulting from the retention of earnings is entered in the
a. cash account.
b. retained earnings account.
c. paid-in capital account.
d. income summary account.
b
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Cultures that focus on what a person does and accomplishes are called
A) relationship-oriented B) culture-oriented C) task-oriented D) value-oriented
Office furniture was purchased for $14,000 . It had an estimated residual value of $2,000 and has a current carrying value of $6,000 . Its depreciable cost must have been
a. $15,000. b. $9,000. c. $12,000. d. impossible to determine from the facts given.
Which “face of evil” is a form of narcissism (self-centeredness)?
A. Deception approach B. Administrative/bureaucratic approach C. Sanctioned destruction approach D. Dreadful approach
Partners David and Goliath have decided to liquidate their business. The following information is available: Cash$100,000 Inventory 200,000 $300,000 Accounts payable$80,000 David, Capital 140,000 Goliath, Capital 80,000 $300,000 David and Goliath share profits and losses in a 3:1 ratio, respectively. During the first month of liquidation, half the inventory is sold for $70,000, and $50,000 of the accounts payable are paid. During the second month, the rest of the inventory is sold for $55,000, and the remaining accounts payable are paid. Cash is distributed at the end of each month, and the liquidation is completed at the end of the second month.Refer to the information provided above. How much cash will be distributed to David at the end of the second month?
A. $33,750 B. $75,000 C. $60,000 D. $41,250