On the first day of the fiscal year, Lisbon Co issued $1,000,000 of 10-year, 7% bonds for $1,050,000, with interestpayable semiannually. Orange Inc purchased the bonds on the issue date for the issue price. The journal entry torecord the amortization of the premium (by the straight-line method) for the year by Lisbon Co includes a debit to
a. Interest Expense for $2,500 b. Premium on Bonds Payable for $2,500
c. Interest Expense for $5,000 d. Premium on Bonds Payable for $5,000
d
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The following are human relations principles that convey appropriate tone to customers:
A) use I-centered phrasing to be sure they understand you. B) talk to people as groups, not as individuals to avoid offending. C) express ideas in ways that convey "what's in it for me" to customers. D) be aggressive in phrasing in order to convey the importance of your message.
Marketing plans should not be aggressively communicated either internally or externally to protect competitive position
Indicate whether the statement is true or false
Ogilvie Corp. issued 22,000 shares of no-par stock for $20 per share. Ogilvie was authorized to issue 45,000 shares. What effect will this event have on the elements of the company's financial statements?
A. Increase assets and increase stockholders' equity by $900,000 B. Increase cash inflows from investing activities by $440,000 C. Increase assets and increase stockholders' equity by $440,000 D. None of these answer choices are correct.
Investors and creditors rely heavily on financial accounting information in making investment and lending decisions.
Answer the following statement true (T) or false (F)