Limited payment life typically terminates coverage at age 65
Indicate whether the statement is true or false
FALSE
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Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50 par common stock. The following amounts were distributed as dividends: Year 1: $10,000 Year 2: 45,000 Year 3: 90,000 Determine the dividends per share for preferred and common stock for the third year
a. $4.50 and $0.25 b. $3.25 and $0.25 c. $4.50 and $0.90 d. $2.00 and $0.25
Jordan Co. uses the allowance method of accounting for uncollectible accounts. Jordan Co. accepted a $5,000, 12%, 90-day note dated May 16, from Beckam Co. in exchange for its past-due account receivable. Make the necessary general journal entries for Jordan Co. on May 16 and the August 14 maturity date, assuming that the: a. Note is held until maturity and collected in full at that time.b. Note is dishonored; the amount of the note and its interest are written off as uncollectible.
What will be an ideal response?
The amount of money that would have to be invested today at a given interest rate over a specific period in order to equal a future amount is called:
A) Future value B) Present value C) Future value interest factor D) Present value interest factor
Consider the case of a manufacturing firm that purchases subassemblies from a supplier, creates a finished product, and then sells that product to a wholesale distributor. What advantages might this firm gain from forward integration? From backward integration? What potential pitfalls of vertical integration might the firm face?
What will be an ideal response?