Accounts Receivable represents the amount of money that a business owes to its creditors as a result of purchasing "on account."
Indicate whether the statement is true or false
F
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A. Marco Corporation has 6,000 shares of $100 par value, 8 percent cumulative preferred stock and 10,000 shares of $50 par value common stock outstanding. All shares were issued at par value. In addition, retained earnings total $198,000. If the preferred stock is callable at $105 per share and one year's dividends are in arrears, compute book value per share of preferred stock
b. Assume the same facts as in a above. Calculate book value per share of common stock. c. Assume the same facts as in a above and that Marco Corporation declares a 15 percent stock dividend on its common stock. If the market value on the declaration date was $60 per share, for what amount will Additional Paid-in Capital, Common be credited? d. Assume the same facts as in a above and that Marco Corporation declares a 4-for-1 stock split on its preferred stock. After the split, total par value of preferred stock equals what amount?
If a company has advance subscription sales totaling $45,000 for the upcoming year, when four quarterly journals will mailed to customers, the receipt of cash would be journalized as:
A. Debit Unearned Revenue $45,000; credit Sales $45,000. B. Debit Sales $45,000, credit Unearned Revenue $45,000. C. Debit Prepaid Subscriptions $45,000, credit Sales $45,000. D. Debit Cash $45,000, credit Accounts Payable $45,000. E. Debit Cash $45,000; credit Unearned Revenue $45,000.
Which of the following statements is true of the reasonable person standard used in a negligence lawsuit?
A) The reasonable-person standard is highly subjective. B) The judge or jury determines what a reasonable person would do in a particular situation. C) The code of ethics followed by the defendant's organization is used to determine the behavior of a reasonable person in a particular situation. D) The reasonable-person standard is used to establish causation.
Why do organizations use performance management systems?
a) Identify organizational talent b) Leadership development c) Succession planning d) All of the above