All of the closing entries will adjust ____ to update that account
A) the drawing account
B) the capital account
C) the cash account
D) the income summary account
B
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Santana Company issued additional shares of common stock. The effect of the transaction is
a. the earnings per share increased b. the debt-to-equity ratio increased c. the earnings per share decreased d. the asset turnover ratio decreased
A valid will may be automatically revoked by a change in family status
Indicate whether the statement is true or false
Before you buy any statistics package, you should make sure of all of the following EXCEPT this:
a.There is telephone technical assistance. b.You have the hardware capacity for the program. c.The software works with your computer’s operating system. d.Your computer is shut down.
The Robertsons, a couple with an adjusted gross income of $28,500, decides to contribute the maximum amount possible toward their individual retirement accounts (IRAs) even though Mr. Robertson is covered by a pension plan where he works. He names his wife the beneficiary of the IRA. What is such a tax strategy called?
A. Tax deferral strategy B. Tax avoidance strategy C. Tax evasion strategy D. Tax ignorance strategy E. Income-shifting strategy