If a firm misses a payment for a non-cumulative preferred stock, the dividend never has to be paid.?
Answer the following statement true (T) or false (F)
True
You might also like to view...
Cash dividends are normally paid on shares of treasury stock
a. True b. False Indicate whether the statement is true or false
Which of the following accounts is not likely to appear in the chart of accounts of a service company?
a. Accounts Receivable; b. Merchandise Inventory; c. Depreciation Expense; d. Income Summary; e. Cash
The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense, reports the following selected amounts: Accounts receivable$441,000?DebitAllowance for Doubtful Accounts 1310?DebitNet Sales 2,160,000?CreditAll sales are made on credit. Based on past experience, the company estimates 2.5% of ending account receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?
A. Debit Bad Debts Expense $15,400; credit Allowance for Doubtful Accounts $15,400. B. Debit Bad Debts Expense $5400; credit Allowance for Doubtful Accounts $5400. C. Debit Bad Debts Expense $11,025; credit Allowance for Doubtful Accounts $11,025. D. Debit Bad Debts Expense $12,335; credit Allowance for Doubtful Accounts $12,335. E. Debit Bad Debts Expense $9715; credit Allowance for Doubtful Accounts $9715.
Which of the following statements is true regarding the salary of the manager of a fast food hamburger restaurant?
A. The salary is a fixed cost that is directly traceable to the cost of making hamburgers. B. The salary is a variable cost that cannot be traced to the cost of operating a specific restaurant. C. The salary is a variable cost that is directly traceable to the cost of operating a specific restaurant. D. None of the answers are correct.