Bonds payable should be reported on the balance sheet at face value plus or minus any unamortized premium ordiscount
a. True
b. False
Indicate whether the statement is true or false
True
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If the amount assigned to ending inventory is incorrect,
a. The balance sheet is affected, but the income statement is not. b. The income statement is affected, but the balance sheet is not. c. The balance sheet is affected, but cost of goods sold is not. d. Both the balance sheet and the income statement are affected.
Business Office Supplies, Inc. uses the periodic inventory system. On February 1, the corporation purchased inventory on account for $20,000. The terms of invoice were 4/10, n/30. The amount due was paid on February 9. Which of the following journal entries correctly records the payment in the books of Business Office Supplies?
For Raw Material B, a company maintains a safety stock of 5,000 pounds. Its average inventory (taking into account the safety stock) is 8,000 pounds. What is the apparent order quantity?
a. 16,000 lbs. b. 6,000 lbs. c. 10,000 lbs. d. 21,000 lbs.
Jorge has $150,000 of self-employment earnings from a sole proprietorship. Jorge's self-employment tax (rounded) for 2018 is
A. $20,272. B. $19,939. C. $22,950. D. $19,645.