Were the bonus payments Elaine made to Marie at the end of the year allowable? Why or why not?
What will be an ideal response?
Yes. They were bonuses tied to no particular case. They also weren’t bonuses that had the appearance of commissions. Elaine could choose to engage in a year-end bonus that is connected to the firm’s overall profitability, especially if it was part of a retirement program.
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The adjusting entry for accrued interest on notes receivable includes
a. debiting Interest Expense and crediting Interest Revenue; b. debiting Interest Receivable and crediting Interest Revenue; c. debiting Interest Revenue and crediting Accrued Interest Payable; d. debiting Accrued Interest Receivable and crediting Interest Payable; e. none of these
The introduction of new technologies is equally beneficial to all industries
Indicate whether the statement is true or false
After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns are $37,875 and $32,735, respectively. What is the amount of net income or net loss for the period?
A) $5,140 net income B) $37,875 net loss C) $5,140 net loss D) $32,735 net income
Define e-mail message. Name four situations where you would choose to send an e-mail message.
What will be an ideal response?