Marvin is an employee of Wild Thing Farms. Marvin finds out that the head of Wild Thing Farms is illegally importing endangered animals to sell as pets. If Marvin reports his employer's illegal activities he will probably be protected from retaliatory discharge by
a. unemployment statutes.
b. worker compensation statutes.
c. whistleblower statutes.
d. no statutes.
c
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In order to maintain a record of the original cost of a trading security, the fair value adjustments are debited or credited to the account Valuation Allowance for Trading Investments
a. True b. False Indicate whether the statement is true or false
On September 1, Eli's Painting Service borrows $150,000 from National Bank on a 4-month, $150,000, 6% note. The entry by Eli's Painting Service to record payment of the note and accrued interest on January 1 is
a. Notes Payable....................................................................... 153,000 Cash.............................................................................. 153,000 b. Notes Payable....................................................................... 150,000 Interest Payable..................................................................... 3,000 Cash.............................................................................. 153,000 c. Notes Payable....................................................................... 150,000 Interest Payable..................................................................... 9,000 Cash.............................................................................. 159,000 d. Notes Payable....................................................................... 150,000 Interest Expense.................................................................... 3,000 Cash.............................................................................. 153,000
On January 1, Fashion Forward Magazine received $15,000 from subscribers for the annual subscriptions that it recorded in Unearned Subscription Revenue. The issues of the magazine are mailed to subscribers quarterly. What amount of subscription revenue should the magazine recognize on March 31 when the first issue is sent in March?
A. $1,250. B. $0. C. $7,500. D. $3,750. E. $15,000.
Factory employees' wages are recorded into the Work in Process Inventory account
Indicate whether the statement is true or false