What is the total stockholders' equity based on the following account balances? Common Stock $450,000 Paid-In Capital in Excess of Par 90,000 Retained Earnings 190,000 Treasury Stock 10,000
A) $740,000
B) $730,000
C) $720,000
D) $640,000
C
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On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $95,250; Allowance for Doubtful Accounts, credit balance of $921. What amount should be debited to Bad Debts Expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?
A. $5,715. B. $5,770. C. $5,660. D. $4,794. E. $6,636.
Soda Bubbles Corporation makes and sells soft drinks. Talia buys and drinks a Soda beverage, which proves defective and injures her. One justification for holding Soda strictly liable for the harm caused to Talia by its defective product is that A) Soda is in a better position than Talia to bear the cost of her injury
B) Talia is a person, not a business. C) ?making and selling products are abnormally dangerous activities. D) Soda and Talia are in privity.
Carlos Kraushar was an enterprising junior at River City College. He entered into a contract with several farmers, whereby he would take delivery of truckloads of tomatoes, without purchasing them, and attempt to sell the tomatoes in bulk to roadside produce merchants for the benefit of the farmers. If he made a sale, it was on credit and payments were made to the individual farmers. If any roadside vendor failed to make a payment, Carlos made good on the loss and paid the farmer. He would return unsold tomatoes to the farmers and they would in turn sell them for hog feed. The farmers paid Carlos 25% of all the payments they received from the produce merchants. What terms best describe Carlos?
a. principle/employee b. employee/agent c. servant/agent d. agent/independent contractor
On March 20, Gordon orally agrees to work for Carrham, Inc for a period of one year commencing on June 1. No writing is necessary here, because the contract can be performed within one year
Indicate whether the statement is true or false