The treasury function of most firms, the group typically responsible for transaction exposure management, is NOT usually considered a profit center
Indicate whether the statement is true or false.
Answer: TRUE
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On December 1, Milton Company borrowed $300,000, at 8% annual interest, from the Tennessee National Bank. Interest is paid when the loan matures one year from the issue date. What is the adjusting entry for accruing interest that Milton would need to make on December 31, the calendar year-end?
A. debit Interest Expense, $4,000; credit Interest Payable, $4,000. B. debit Interest Payable, $2,000; credit Interest Expense, $2,000. C. debit Interest Expense, $2,000; credit Cash, $2,000. D. debit Interest Expense, $24,000; credit Interest Payable, $24,000. E. debit Interest Expense, $2,000; credit Interest Payable, $2,000.
Gary is a trainer at the Boise Best Bank. He recently delivered a training program on how to use transaction forms to new employees at the bank. He used Kirkpatrick’s 4 levels of evaluation to report the effectiveness of his training. Which one is correctly reported based on Kirkpatrick’s evaluation model?
a. Level 1 – At the end of the program, he found out that only 75 % of the trainees mastered the required knowledge and skills. b. Level 2 – At the end of the program, he found out that all trainees liked the role play activity used during training. c. Level 3 – During the first week after the trainees returned from training to their job, he observed that 20% of them were not using the transaction forms correctly. d. Level 4 – During the second week after the trainees returned from training to their job, he found out that 15% of them would need to receive remedial training.
A balance sheet is a list of the assets, liabilities, and owner's equity of a business for a period of time
Indicate whether the statement is true or false
A corporation reports the following year-end balance sheet data. The company's working capital equals: Cash$40,000 Current liabilities$75,000 Accounts receivable 55,000 Long-term liabilities 35,000 Inventory 60,000 Common stock 100,000 Equipment 145,000 Retained earnings 90,000 Total assets$300,000 Total liabilities and equity$300,000
A. $80,000 B. $300,000 C. $190,000 D. $155,000 E. $75,000