For each of the following transactions related to Held-to-Maturity Debt securities, state the following: (1) Which account(s) is (are) increased? (2) Which account(s) is (are) decreased? (3) What is the net effect on total assets and total equity? This net effect can be increase, decrease, or no net effect.
Transaction:
a. The investment was purchased at $50,000 (face value) plus brokerage fees of $2,000.
b. Semiannual interest of $1,500 was received.
c. The investment was disposed of at maturity. Cash in the amount of $50,000 was received.
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Tomas and Saturn are partners who share income in the ratio of 3:1 . Their capital balances are $40,000 and $60,000 respectively. Income summary has a credit balance of $20,000 . What is Saturn's capital balance after closing income summary to capital?
a. $55,000 b. $75,000 c. $45,000 d. $65,000
Answer the following statements true (T) or false (F)
1. The way in which the leader designs the organizational systems and procedures tells people in the organization what is valued. 2. The most important influence on a successful hospitality organization’s culture is the front-line employees. 3. Culture is dynamic and constantly changing, unless an organization is centuries old. 4. Giving the executive chef a big office can affect the overall organizational culture.
Legal constraints and ethical considerations should be considered when developing a company's pricing policy
Indicate whether the statement is true or false
The cost of transporting a barrel of petroleum by pipeline from Houston to the New York harbor is ______.
A. $1 B. $2 C. $3 D. $4