After closing the temporary owners' equity accounts into Income Summary, and after allocating the net income and closing the partners' drawing accounts, assume the partners' capital accounts had credit balances as follows: Golden, $30,000; Chavez, $40,000; McGinnis, $55,000 . If McGinnis retired and withdrew $50,000 in settlement of his/her equity, the amount entered in McGinnis's capital account
would be a
a. $5,000 credit.
b. $50,000 credit.
c. $55,000 debit.
d. $55,000 credit.
c
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The liability of the accountant can be both civil and criminal.
Answer the following statement true (T) or false (F)
By definition, the market portfolio has a ________ and the risk free rate has a ________
A) beta equal to 1.0; beta equal to 0.0. B) beta equal 0.0; beta equal to 1.0. C) standard deviation equal to 1.0; beta equal to 0.0. D) standard deviation equal to 0.0; beta equal to 1.0.
H (age 50) and W (age 48) are married but only W is employed. She is not covered by a retirement plan at work. She earns $75,000 during the year and they have combined AGI of $78,000 before any IRA contribution. In 2018, the maximum amount together they may contribute to tax deductible IRAs is
H (age 50) and W (age 48) are married but only W is employed. She is not covered by a retirement plan at work. She earns $75,000 during the year and they have combined AGI of $78,000 before any IRA contribution. In 2018, the maximum amount together they may contribute to tax deductible IRAs is
A) $5,500
B) $6,500.
C) $11,000.
D) $12,000.
An employer's insistence that the union agree to the interest arbitration clause as a condition of the employer signing the collective bargaining agreement amounts to a violation of Section 8(d).?
Indicate whether the statement is true or false