A mortgage is a contractual or equitable lien
Indicate whether the statement is true or false
True
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Exhibit 14-9 Hawk issued $200,000 of its ten-year 10% bonds for $224,924 on October 1, 2016. The effective rate on the bonds was 8% and interest is paid each October 1 and April 1. ? Refer to Exhibit 14-9. Assuming Hawk uses the effective interest method, the adjusting entry on December 31, 2016, would include
A) a credit to Premium on Bonds Payable for $502. B) a credit to Interest Payable for $4,498. C) a credit to Interest Payable for $5,000. D) a debit to Interest Expense for $5,498.
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$78 Units in beginning inventory 0Units produced 8,800Units sold 8,700Units in ending inventory 100 Variable costs per unit: Direct materials$18Direct labor$10Variable manufacturing overhead$4Variable selling and administrative expense$5Fixed costs: Fixed manufacturing overhead$255,200Fixed selling and administrative expense$87,000 What is the net operating income for the month under variable costing?
A. $14,500 B. $11,300 C. $2,900 D. $17,400
Several years ago, Knox Industries issued 200,000 of its $2 par value stock for a total of $1,600,000. This is the only time that it has sold stock. This year it purchased 2,000 shares of its own stock for $20 a share. As a result of acquiring treasury stock:
A. its stockholders' equity decreases by $40,000. B. its common stock account decreases by $40,000. C. its retained earnings decrease by $40,000. D. it will recognize a loss of $40,000.
Supply chain management does not require the coordination of activities and flows that do not extend across boundaries
a. True b. False Indicate whether the statement is true or false