Owner's equity includes four types of accounts: Owner's Capital, Revenues, Expenses, and Owner's Drawing.
Answer the following statement true (T) or false (F)
True
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When transferring investments between categories, unrealized holding gains for securities transferred from trading to available-for-sale
A) must be realized on the income statement. B) must be recognized on the income statement. C) must be realized and reported in comprehensive income. D) need no accounting since they have already been recognized in net income.
Clabber Company has bonds outstanding with a par value of $112,000 and a carrying value of $104,500. If the company calls these bonds at a price of $101,000, the gain or loss on retirement is:
A. $7500 loss. B. $3500 loss. C. $3500 gain. D. $7500 gain. E. $11,000 loss.
What is the maximum amount at which inventory can be valued when the goods have experienced a permanent decline in value?
a. Net realizable value reduced by a normal profit margin b. Sales price c. Historical cost d. Net realizable value
A corporation paid a cash dividend of $0.85 per share during the current year. It had 1,550,000 common shares outstanding at year-end, its current year earnings per share was $3.45, and the stock's year-end market price was $10.63 per share. Calculate the company's dividend yield.
What will be an ideal response?