A payee whose name is misspelled on an instrument cannot indorse the instrument.
Answer the following statement true (T) or false (F)
False
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When a company does not have any convertible securities or options or warrants outstanding, the company has:
A. to report only diluted earnings per share. B. to report both basic and diluted EPS. C. a simple capital structure. D. a complex capital structure.
Making gifts of money, goods, or time to help nonprofit organizations, groups, or individuals is known as corporate philanthropy
Indicate whether the statement is true or false
What is the effect on net income for the current year if a company fails to record a purchase of materials in transit (FOB shipping point) but includes the materials in physical inventory at year-end?
A) Net income is overstated. B) Net income is understated. C) Net income is unaffected. D) Not enough information is provided to determine the answer.
On January 1, Davidson Services has the following balances
Accounts Receivable $23,000 Bad Debts Expense $0 Davidson has the following transactions during January: Credit sales of $120,000, collections of credit sales of $84,000, and write-offs of $18,000. Davidson uses the direct write-off method. The amount of Bad Debts Expense for January is ________. A) $23,000 B) $25,714 C) $12,600 D) $18,000