Answer the following statements true (T) or false (F)
1. In the cash receipts journal, the Other Accounts CR column is used when a transaction involves a credit entry that is not listed in the headings (columns) of the cash receipts journal.
2. Unlike the sales journal, entries in the cash receipts journal are posted monthly to the accounts receivable subsidiary ledger and daily to the general ledger.
3. Cash purchases are recorded in the purchases journal.
4. The purchases journal is a special journal used to record all purchases of merchandise inventory, office supplies, and other assets on account.
1. TRUE
2. FALSE
3. FALSE
4. TRUE
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Presented below are selected data from the financial statements of Carnival Corp for 2017 and 2016. 2017 2016 Net income $110,000 $123,000 Cash dividends paid on common stock $42,000 $38,000 Market price per share of common stock at the end of the year $16.00 $13.00 Shares of common stock outstanding 140,000 140,000 The dividend yield ratio for 2017 is
a. 1.9% b. 2.1% c. 36.3% d. 38.1%
"BRICS" is an acronym for ________
A) Brazil, Russia, India, China, and South Africa B) Bolivia, Russia, Indonesia, China, and South Africa C) Brazil, Russia, Indonesia, China, and South Africa D) Bolivia, Russia, India, Canada, and South Africa E) Bolivia, Russia, Indonesia, Canada, and South Africa
Competition or antitrust laws are intended to prevent __________.
Fill in the blank(s) with the appropriate word(s).
Crestar Company reported net income of $142,600 on 26,000 average outstanding common shares. Preferred dividends total $12,600. On the most recent trading day, the preferred shares sold at $56 and the common shares sold at $86. What is this company's current price-earnings ratio? (Do not round your intermediate calculations.)
A. 18.23 B. 17.20 C. 15.68 D. None of these answers is correct.