When signing a company check, an agent must clearly indicate that he or she is signing on behalf of the company in order to be free of liability.
Answer the following statement true (T) or false (F)
False
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The profit-and-loss-sharing ratio among Simonsen, Paulson, and Richardson is 1:3:2, in the order given. Paulson is retiring from the partnership on December 31, 2017. Paulson is paid $230,000 cash in full compensation for her capital account balance. Which of the following is TRUE of the journal entry prepared at the time of retirement? (Round the final answer to the nearest dollar.)
Simonsen, Paulson, and Richardson are partners in a firm with the following capital account
balances:
A) Debit Paulson's capital account by $230,000.
B) Debit Richardson's capital account by $35,000.
C) Debit Simonsen's capital account by $23,333.
D) Debit Income Summary by $70,000.
Internet domain names are assigned by:
A) The Patent and Trademark Office. B) Network Solutions, Inc., and other authorized companies. C) Network Solutions, Inc., only. D) A subagency of the Commerce Department.
A donor agrees to contribute $5,000 per year at the end of each of the next five years to a voluntary health and welfare organization. The donor did not place any use restrictions on the amount pledged. The stream of the payments is discounted at 6 percent. The first payment of $5,000 is received at the end of the first year. The present value factor for a five-payment annuity due on June 30, 20X9, at 6 percent is 4.2124. The present value factor for a four-payment annuity due on June 30, 20X9, at 6 percent is 3.4651.Based on the preceding information, the journal entry to recognize present value at the time the pledge is received includes:
A. a debit to Pledges Receivable-Temporarily Restricted for $21,062. B. a credit to Contributions-Temporarily Restricted for $25,000. C. a debit to Contributions-Temporarily Restricted for $21,062. D. a credit to Pledges Receivable-Temporarily Restricted for $25,000.
All SAP implementations start with an SAP ________
A) user training program B) industry-specific platform C) gap analysis D) requirement analysis