Beckham Corporation has 3,000 shares of $100 par value, 7 percent cumulative preferred stock, and 10,000 shares of $10 par value common stock outstanding during its first five years of operation. Beckham Corporation paid cash dividends as follows: 2006, $9,000; 2007, $0; 2008, $65,000; 2009, $30,000; 2010, $15,000 . The amount of dividends in arrears at the end of 2007 was
a. $0.
b. $12,000.
c. $19,000.
d. $33,000.
D
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In terms of copytesting, the current thought by a number of marketing professionals is that the test:
A) favors affective approaches over rational approaches B) inspires creativity C) is necessary primarily because of the issue of accountability D) is not really useful, but necessary because of demands of creatives
Genuine Parts received a promissory note from a customer on March 1, 2015 . The face amount of the note is $8,000; the terms are 90 days and 9% interest. At the maturity date, the customer pays the amount due for the note and interest. What entry is required on the books of Genuine Parts on the maturity date assuming none of the interest had already been recognized?
a. Increase Cash, $8,000, and decrease Notes Receivable $8,000 b. Increase Cash, $8,180, increase Interest Revenue, $180, and decrease Notes Receivable, $8,000 c. Increase Cash $8,720, decrease Notes Receivable $8,000, and increase Interest Revenue, $720 d. No entry is required; the customer pays the amount due to the bank
Which of the following types of transactions would be reported as a cash flow from investing activity on the statement of cash flows?
A) issuance of bonds payable B) issuance of capital stock C) purchase of treasury stock D) purchase of noncurrent assets
Which of the following sentences follows the normal subject-verb-complement sequence?
a. It is necessary that we withdraw the funds. b. Here are the main reasons we must withdraw the funds. c. There are two reasons for our withdrawal of funds. d. We must withdraw the funds for two reasons.