Anole Company was incorporated as a new business on January 1, 2015 . The company is authorized to issue 20,000 shares of $5 par value common stock and 10,000 shares of 6%, $10 par value, cumulative, participating preferred stock. On January 1, 2015, the company issued 8,000 shares of common stock for $15 per share and 2,000 shares of preferred stock for $30 per share. Net income for the year
ended December 31, 2015, was $375,000. Refer to the information about Anole Company. Anole's total stockholders' equity reported on the balance sheet at December 31, 2015, is
a. $ 60,000 .
b. $120,000 .
c. $180,000 .
d. $555,000.
d
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Trezelle Services' payroll register for the week ended August 31 indicates gross payroll of $18,000 and payroll deductions of $4,100 . The journal entry for the payroll for this week would include credit to Cash for
a. $18,000; b. $13,900; c. $4,100; d. $0; e. none of these
A major manufacturer of automobile tires sells its products at its dealership retail stores. After a tire is sold, the customer can return to any manufacturers' retail store and the tire can be rotated on the car at no expense to the customer
Should a repair to the tire be needed, the customer will receive a discount from the list price bill as a form of a warranty received at the time of purchase of the tire. Identify and explain the selling approach being implemented by this manufacturer.
Without a constitutional grant of power, the federal government cannot act
a. True b. False Indicate whether the statement is true or false
Life insurance that provides insurance coverage for a specified term and also includes a savings option is called ________ insurance
Fill in the blank(s) with the appropriate word(s).