When a corporation liquidates, it performs three activities. What is the general order of these activities in a plan of liquidation?
A) pay debts, distribute property to shareholders, and wind up its affairs
B) wind up its affairs, distribute property to shareholders, pay debts
C) pay debts, wind up its affairs, and distribute property to shareholders
D) wind up its affairs, pay debts, and distribute property to shareholders
D) wind up its affairs, pay debts, and distribute property to shareholders
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Bluesy Company acquired land and paid for it in full by issuing $700,000 of its 1 . percent bonds payable and 40,000 shares of its common stock, par $10 . The stock was selling at $21 per share and the bonds were trading at 102 . What amount should Bluesy record as the cost of the land?
a. $1,100,000 b. $1,540,000 c. $1,554,000 d. $1,604,000
Norman Co. had $5,925 million in sales and $1,155 million in ending accounts receivable for the current period. For the same period, Opal Co. reported $5,885 million in sales and $790 million in ending accounts receivable. Calculate the days' sales uncollected for both companies as of the end of the current period and indicate which company is doing a better job in managing the collection of its receivables.
What will be an ideal response?
Which of the following is NOT considered to be part of a transportation network?
a. pipelines b. highways c. shipping sea lanes d. electronic circuitry
In the sentence Beth and the sales representative reviewed the product descriptions on the website, the word sales is a(n) ____
A) adverb B) noun C) conjunction D) adjective