A disadvantage of a syndicate is that it cannot raise large amounts of capital quickly
Indicate whether the statement is true or false
FALSE
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McBride Industries completed the following transactions during 2016
Oct. 1 Made sales of $10,000. McBride estimates that warranty expense is 5% of sales. (Record only the warranty expense.) Oct. 24 Paid $250 to satisfy warranty claims. Dec. 31 Estimated vacation benefits expense to be $2,350. Dec. 31 McBride expected to pay its employees a 4% bonus on net income after deducting the bonus. Net income for the year is $25,000. Journalize the transactions (explanations are not required). Round to the nearest dollar. What will be an ideal response
Kip opens an account at a Lotsa Goodies Store, and buys a digital music player and other items, but makes no payments on the account. To collect the debt, Mako, the manager, contacts Kip's parents. This violates A)?no federal law
B)?the Fair and Accurate Credit Transactions Act. C)?the Fair Debt Collection Practices Act. D)?the Truth-in-Lending Act.
Consumable items that do not become part of the final product are called supplies.
Answer the following statement true (T) or false (F)
A replacement cost rider is important to add to your homeowner's policy because
A) it replaces property that breaks or otherwise stops working. B) in the event of a loss, your property is valued at the cost of replacement regardless of age or depreciation. C) it will pay you depreciated value plus inflation for your property loss. D) it is not important and is an expensive but low value rider.