For no-par stock there can be paid-in capital in excess of par
Indicate whether the statement is true or false
FALSE .For no-par stock, there can be no paid-in capital in excess of par.
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Bonds Payable on the balance sheet of Michael LLC includes one series of bonds initially issued at a premium. The entry made in the accounting records for interest expense during the period was as follows: Interest Expense . . . . . . . . . . . . . . . . .4,500 Premium on Bonds Payable . . . . . . . . . . 500 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000 The firm spent
$5,000 of cash even though it subtracted only $4,500 of interest expense in computing net income. In preparing the statement of cash flows using the T-account work sheet a. subtract an additional $5,000 from net income to derive cash flow from operations. b. subtract an additional $4,500 from net income to derive cash flow from operations. c. subtract an additional $500 from net income to derive cash flow from operations. d. add an additional $500 from net income to derive cash flow from operations. e. add an additional $4,500 from net income to derive cash flow from operations.
Competition refers to
A. any product or service that vies for a portion of a customer's discretionary income. B. identical products that perform identical functions. C. alternative firms that could provide a product to satisfy a specific market's needs. D. any for profit organization that targets the customers of other organizations. E. the set of firms that operate in a given geographic region, regardless of product or service.
All courts require a fact pleading
Indicate whether the statement is true or false
The periodic inventory records of Witte Veterinary Supply indicate the following for the month of
April: Apr 1 Beginning merchandise inventory 15 units @ $32 each 7 Purchase 7 units @ $32 each 18 Purchase 12 units @ $32 each 26 Purchase 10 units @ $32 each As of April 30, Witte counts 8 units of merchandise inventory on hand. Compute ending merchandise inventory and cost of goods sold for Witte using the weighted-average inventory method. (Round the per unit cost to two decimal places.) What will be an ideal response