When bonds are sold between the interest payment dates, the issuing corporation pays to investors the interest that has accrued since the last interest payment date
Indicate whether the statement is true or false
False
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The value of deferred tax assets and liabilities should be measured using the enacted tax rates that will be in existence when the temporary differences reverse
Indicate whether the statement is true or false
A cosmetics salesperson, who calls potential customers to sell her products, has determined that 30% of her telephone calls result in a sale. Determine the probability distribution for her next three calls. Note that the next three calls could result in 0, 1, 2, or 3 sales.
What will be an ideal response?
Kenai Company sold $600 of merchandise to a customer who used a National Bank credit card. National Bank deducts a 3% service charge for sales on its credit cards. Kenai electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record the collection from the credit card company would be:
A. Debit Accounts Receivable-National $582; debit Credit Card Expense $18 and credit Sales $600. B. Debit Cash $582 and credit Sales $582. C. Debit Cash of $618 and credit Accounts Receivable-National $618. D. Debit Cash of $618; credit Credit Card Expense $18 and credit Sales $600. E. Debit Cash $582; debit Credit Card Expense $18 and credit Sales $600.
Lisa brings a successful lawsuit against her employer Metal Mold & Die Corporation for unlawful discrimination. Lisa may be awarded
a. back pay, but not retroactive promotions. b. retroactive promotions, but not back pay. c. damages, but not back pay. d. back pay, retroactive promotions, and damages.