In a merger with true synergies, the post-merger value exceeds the sum of the separate companies' pre-merger values.
Answer the following statement true (T) or false (F)
True
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Which of the following is not an advantage of a computer accounting systems?
A) Special journals are not typically used. B) Reports are easy to generate. C) Automatic posting to account balances. D) Month end postings to controlling accounts.
Articles of organization are documents that are an evidence of a member's ownership interest in a Limited liability company (LLC)
Indicate whether the statement is true or false
Andrew Durham was injured in a job-related accident that resulted in a workers' compensation settlement agreement with the employer's insurance carrier, Traveler's Indemnity Company. The settlement agreement required Traveler's to pay Durham $2500 per
month for the rest of his life. To finance its obligation, Traveler's purchased an annuity in its name. The settlement agreement required Traveler's approval or consent prior to an assignment of the annuity payments. Durham later decided to open a business and went to a credit union for a $214,000 loan. The credit union loaned the money, taking a security interest in Durham's monthly annuity payments. Traveler's consent was never secured. Was this a valid assignment?
Karaoke Records Company uses the indirect method to prepare its statement of cash flows
Refer to the following sections of the comparative balance sheet: Karaoke Records Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (Decrease) Accounts Payable $ 6,000 $ 9,000 $(3,000 ) Accrued Liabilities 3,000 1,500 1,500 Long-term Notes Payable 126,000 135,000 (9,000 ) Total Liabilities $ 135,000 $ 145,500 $(10,500 ) Common Stock 45,000 3,000 42,000 Retained Earnings 169,500 111,000 58,500 Treasury Stock (12,000 ) (7,500 ) (4,500 ) Total Equity 202,500 106,500 96,000 Total Liabilities and Stockholders' Equity $337,500 $252,000 $85,500 Additional information for 2017: • No stock was retired. • No treasury stock was sold. • The company repaid $60,000 of long-term notes payable. • The company borrowed $51,000 on a new long-term note payable. • Net income for the year was $68,000. Prepare the financing section of the statement of cash flows for the year ended December 31, 2017. What will be an ideal response