Nonexempt employees are covered by the Fair Labor Standards Act and must be paid at the rate of arate of one and a half times their regular pay rate for time worked in excess of forty hours in their workweek.
Answer the following statement true (T) or false (F)
True
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Which of the following would be an example of a cash inflow from financing activities?
a. interest paid on loans; b. the sale of equipment; c. the sale of investments in equity securities; d. the issue of bonds for cash; e. dividends received
A ________ is an instrument that gives a creditor a security interest in the debtor's real property that is pledged as collateral for a loan
A) credit report B) letter of credit C) remittance advice D) deed of trust
A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable$365,000?debitAllowance for uncollectible accounts 600?debitNet Sales 810,000?credit All sales are made on credit. Based on past experience, the company estimates that 0.4% of net credit sales are uncollectible. What amount should be debited to Bad Debts Expense when the year-end adjusting entry is prepared?
A. $2060 B. $3840 C. $2640 D. $3240 E. $860
The ________ is a two-edged sword in that as its value increases the ROE should increase, but the risk to shareholders also increases
A) profit margin B) ROA C) leverage ratio D) asset turnover ratio