A payroll clearing account is a separate bank account used solely for payroll purposes. Funds are transferred into the account to cover payroll checks to be issued
Indicate whether the statement is true or false
T
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Sometimes a producer of luxury products chooses only one or a few dealers in a territory to distribute its products in order to maintain a sense of prestige for the products. Generally these dealers are given a right to ________ distribution
A) exclusive B) selective C) intensive D) administered E) corporate
At the time Hollywood Corporation became a subsidiary of Vine Corporation, Hollywood switched depreciation of its plant assets from the straight-line method to the sum-of-the-years'-digits method used by Vine. With respect to Hollywood, this change was a
a. change in an accounting estimate. b. correction of an error. c. change in the reporting entity. d. change in accounting principle.
Carla provides service certificates to employees in her department who provide exemplary service without being asked. This represents ______ as a nonmonetary incentive.
A. recognition B. standard hour plan C. ESOP D. piece-rate plan
Salah's net income for the year ended December 31, Year 2 was $175,000. Information from Salah's comparative balance sheets is given below. Compute the cash paid for dividends during Year 2.At December 31Year 2Year 1Common Stock, $5 par value$500,000 $450,000 Paid-in capital in excess of par 948,000 853,000 Retained earnings 688,000 582,000
A. $95,000. B. $201,000. C. $79,000. D. $50,000. E. $69,000.