When two or more testators execute the same instrument as their will, the document is called a[n]:
A) Illegal document.
B) Reciprocal will.
C) Joint will.
D) None of the above.
C
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A company issued financial statements for the year ended December 31, but failed to include the following adjusting entries: A. Accrued interest revenue earned of $1,200.B. Depreciation expense of $4,000.C. Portion of prepaid insurance expired (an asset) used $1,100.D. Accrued taxes of $3,200.E. Revenues of $5,200, originally recorded as unearned, have been earned by the end of the year.Determine the correct amounts for the December 31 financial statements by completing the following table:?AssetsLiabilitiesEquityNet IncomeReported amounts…...$350,000$200,000$150,000$70,000Add (subtract) tocorrect for item:????A…..????B…..????C…..????D…..????E…..???? Corrected amounts………$$$$
What will be an ideal response?
Accounts receivable represents:
A. Cash owed by customers to the company B. Cash the company owes to suppliers C. Cash that has been collected from customers D. None of the above
Your primary goal in writing a sales or marketing message is to A) demonstrate creativity and marketing skills
B) create a strong personal and professional image for yourself. C) get your audience to devote a few moments of attention to your message. D) become a perceptive consumer of ideas, products, and services.
Chico Company borrowed $40,000 on a four-year, 8% installment note. How will Chico record the issuance of this note?
A.
| Cash | 40,000 | |
| Notes payable | 40,000 |
B.
| Cash | 40,000 | |
| Interest payable | 3,200 | |
| Notes payable | 36,800 |
C.
| Cash | 43,200 | |
| Notes payable | 43,200 |
D.
| Cash | 36,800 | |
| Discount on notes payable | 3,200 | |
| Notes payable | 40,000 |