Mr. Big received a $5,000 payment from his sole proprietorship, Buy & Large, for work performed by Mr. Big. The payment should be recorded with a $5,000:
A. credit to Salary Expense.
B. debit to M. Big, Drawings.
C. debit to Salary Expense.
D. debit to M. Big, Capital.
Answer: B
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Watson Company has 5,000 shares of $5 par, 3% preferred stock outstanding, and 25,000 shares of $2 par common stock outstanding. The preferred stock is cumulative and no dividends have been paid for the past two years. If the company wishes to distribute $2 per share to the common stockholders, what is the total amount of dividends that must be paid in the current year?
a. $ 2,250 b. $50,000 c. $50,750 d. $52,250
Which of the following is a good example of an industry?
A) housewares B) water purifiers C) percolators D) drip coffee makers
_______________, moving a shipment through another country, can be used as a way to avoid quotas.
Fill in the blank(s) with the appropriate word(s).
Alfred has requested unpaid leave to care for his wife. She was injured while serving in the army in Afghanistan. Alfred may be able to take this leave and return to his original job (or an equivalent one) under ________.
A. Social Security B. the Affordable Care Act C. the Family and Medical Leave Act D. Medicare`/ E. high-deductible health plan (HDHP)