A transaction has been recorded in the general journal of Manella Company as follows:Cash6,000 Unearned Revenue 6,000 Which of the following could be an explanation for this transaction?
A. Recorded adjusting entry for work completed.
B. Received cash for services completed.
C. Paid cash to a customer who requested a refund.
D. Received cash in advance for work to be performed in future months.
Answer: D
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The MAX Corporation is planning a $4,000,000 expansion this year. The expansion can be financed by issuing
either common stock or bonds. The new common stock can be sold for $60 per share. The bonds can be issued with a 12 percent coupon rate. The firm's existing shares of preferred stock pay dividends of $2.00 per share. The company's corporate income tax rate is 46 percent. The company's balance sheet prior to expansion is as follows: MAX Corporation Current Assets $2,000,000 Fixed Assets 8,000,000 Total Assets $10,000,000 Current Liabilities $1,500,000 Bonds: (8%, $1,000 par value) 1,000,000 (10%, $1,000 par value) 4,000,000 Preferred Stock: ($100 par value) $500,000 Common Stock: ($2 par value) 700,000 Retained Earnings 2,300,000 Total Liabilities and Equity $10,000,000 a. Calculate the indifference level of EBIT between the two plans. b. If EBIT is expected to be $3 million, which plan will result in higher EPS?
Hofstede's model defined societies with high power distance as having
A. a government that uses taxation and social welfare programs to reduce inequality. B. a large gap between rich and poor. C. inequalities in the well-being of individuals due to their work achievements. D. no inequalities between different classes in society. E. resources that are accessible to all members of society.
After all postings have been made, the total of the schedule of accounts receivable should equal
A. the balance in the Accounts Payable account in the general ledger. B. the balance of the Accounts Receivable account in the general ledger. C. the balance of the Sales account. D. the total of all sales on account for the accounting period.
Which command will create an index?
a. CREATE INDEX indexname IN tablename (columnname) b. CREATE INDEX indexname REFERENCE (columnname) c. CREATE INDEX indexname ON tablename (columnname) d. CREATE INDEX indexname INCREMENT BY (columnname)