After the adjusting entries and the first two closing entries, the Income Summary account has been debited for $33,000 and credited for $43,000 . When the net income/loss is transferred and the Income Summary account is closed, what will be the journal entry for this transaction?
a. Debit Capital and credit Income Summary
b. Debit Capital and credit Net Income
c. Debit Income Summary and credit Capital
d. Debit Income Summary and credit Drawing
e. Debit Income Summary and credit Sales
c
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You work for the CEO of a new company that plans to manufacture and sell a new product, a watch that has an embedded TV set and a magnifying glass crystal. The issue now is how to finance the company, with only equity or with a mix of debt and equity. Expected operating income is $510,000. Other data for the firm are shown below. How much higher or lower will the firm's expected ROE be if it uses some debt rather than all equity, i.e., what is ROEL - ROEU? Do not round your intermediate calculations. 0% Debt, U 60% Debt, LOper. income (EBIT)$510,000 $510,000 Required investment$2,500,000 $2,500,000 % Debt0.0% 60.0% $ of Debt$0.00 $1,500,000 $ of Common equity$2,500,000 $1,000,000 Interest rateNA 10.00% Tax rate35% 35% ?
A. 10.65% B. 10.14% C. 8.11% D. 12.68% E. 7.10%
Wrongful persuasion and persistent pressure is a definition of duress and a common example is a pushy salesperson in a computer store
Indicate whether the statement is true or false
A well-known seasoned issuer cannot file a registration statement until after it announces a new offering
Indicate whether the statement is true or false
The Tween Scene is a retail store catering to 8-12 year-old boys and girls. It advertises regularly both on radio and in the daily newspaper. The month prior to the beginning of each new school year, the store buys extra advertising space and time. This is an example of a(n) _____ scheduling plan.
A. continuous B. replication C. interval D. seasonal E. pulsing