On July 1, 2016, Sharon Equipment Dealer issued $590,000 of 6% bonds payable that mature in seven years. These bonds were issued at face value and pay interest each June 30 and December 31. Each semiannual interest payment will be higher than the amount of cash paid to the bondholders.
Indicate whether the statement is true or false
FALSE
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Below is financial data for Computech Industries' current year. Net sales on account during year $500,000 Cost of merchandise sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, beginning of year 90,000 Inventory, end of year 110,000 Refer to the data for Computech Industries. Based on this information, what is Computech's
number of days' sales in receivables (assuming a 360 day year)? a. 32.4 days b. 36.0 days c. 28.8 days d. 25.2 days
The account to which the income summary account is closed is called
a. Revenue; b. Drawing; c. Capital; d. Cash; e. Cost
In order to use a process costing system, products produced should be homogenous in nature
Indicate whether the statement is true or false
Internal factors affecting consumer choices include personal characteristics and psychological attributes.
Answer the following statement true (T) or false (F)