On April 1, Alliance Company purchased $50,000 of Tetter Company's 12% bonds at 100 plus accrued interest of $2,000 . On June 30, Alliance received its first semiannual interest. On February 1, Alliance sold $40,000 of the bonds at 103 plus accrued interest. The journal entry Alliance will record on April 1 for the purchase of the bonds will include a
a. credit to Interest Payable for $2,000
b. debit to Investments—Tetter Company Bonds for $52,000
c. debit for Cash of $50,000
d. debit to Investments—Tetter Company Bonds for $50,000
d
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Most publicly traded firms operate as corporations. Which of the following is/are not true?
a. The corporate form facilitates the transfer of ownership interests because owners can sell their shares without affecting the ongoing operations of the firm. b. The transfer of ownership interests is a transaction between shareholders and does not involve the firm whose shares change hands. c. Investors make capital contributions under a contract between themselves and the corporation. d. The corporation has legal status separate from its owners. e. none of the above
During this phase of design thinking, ideas generated through the ideation process are transformed into concrete actions.
a. action phase b. concretization phase c. ideation phase d. implementation phase
How are the elements of the financial statements affected when merchandise inventory is purchased on account? (Assume a perpetual inventory system is in use.)
What will be an ideal response?
A cellular layout is essentially the opposite of a(n) ________ layout
Fill in the blank with the appropriate word.