________ products are made possible only when the availability of what they require, be it tangible or intangible, achieves a critical mass
A) Complex or revolutionary
B) Simple
C) New
D) Old
A
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Answer the following statements true (T) or false (F)
1) The current portion of notes payable is the principal amount that will be paid within two years of the balance sheet date, and the remaining portion is long term. 2) The current portion of notes payable is reported on the balance sheet under current liabilities. 3) The issuance of a note is recorded, on the books of the borrower, by crediting Cash and debiting Notes Receivable. 4) When preparing an amortization schedule, the interest expense increases each year because the principal decreases with each installment payment. 5) On March 1, 2018, Vintage Services issued an 8% long-term notes payable for $22,000. It is payable over a 16-year term in $1,375 principal installments on March 1 of each year, beginning March 1, 2019. Each yearly installment will include both principal repayment of $1,375 and interest payment for the preceding one-year period. The journal entry to pay the first installment will include a debit to Interest Expense for $1,760.
When products differ in batch size and complexity, they usually consume different amounts of overhead resources.
Answer the following statement true (T) or false (F)
On January 1, Year 1, Rickson Corporation purchased 7,500 shares of AutoTech as an equity method investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of AutoTech. Prepare the journal entries for Rickson to record the following transactions and events:Dec. 31, Year 1:AutoTech reported net income of $66,000 for Year 2.Feb. 1, Year 2:Sold 1,875 of the AutoTech shares for $33 per share. ??Nov. 1, Year 2:Rickson received a $0.90 per share cash dividend from AutoTech.Dec. 31, Year 2:AutoTech reported net loss of $46,000 for Year 2.
What will be an ideal response?
When a corporation is formed, the transaction is always tax-free.
Answer the following statement true (T) or false (F)