The journal entry a company uses to record partially funded pension rights for its salaried employees, at the end of the year is
A) debit Salary Expense; credit Cash
B) debit Pension Expense; credit Unfunded Pension Liability
C) debit Pension Expense; credit Unfunded Pension Liability and Cash
D) debit Pension Expense; credit Cash
C
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A board of directors may decide to restrict retained earnings to meet legal requirements or to meet a contractual restriction
Indicate whether the statement is true or false
Maywood Company recently signed a $350,000, six-month note on August 22, 2019. The interest rate is 7%. How much interest will be due at maturity?
A) $10,208 B) $24,500 C) $12,250 D) $8167
One rationale for establishing a price skimming objective is that ________ lends status to a product or brand by virtue of a price relatively higher than the competition.
A. product line pricing B. captive pricing C. price bundling D. reference pricing E. prestige pricing
The Handy Dandy Corporation has an income statement that indicates that Operating Income is
$2,375,486 and Net Profit is $1,375,486. It currently has 2 million shares of common stock outstanding and 1 million shares of preferred stock that pays a dividend of $1.00 per share. What is this corporation's approximate Earnings per Share? A) $0.69 B) $1.18 C) $0.79 D) $0.19 E) $0.46