Preferred stock on which the unpaid dividends for one year are added to dividends to be received the following year is called cumulative
a. True
b. False
Indicate whether the statement is true or false
True
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What are the three characteristics that all waiting lines have?
a. arrival patterns, queue discipline, and time for service b. impatient customers, harried employees, and bored guests c. potential future issues, caring employees, and focused managers d. organization, opportunities to skip, and entertained guests
The first step in preparing a proposal is to ________
A) identify the level of persuasion it will require B) develop a clear idea of your purpose C) determine the appropriate form of the proposal D) establish audience benefits E) counter potential objections
A plaintiff wants to sue on a negligence tort, but knows that he was partly as fault. Which of the
following is true? A) If the plaintiff's fault is only 5 percent, his recovery will be the same under either pure or partial comparative negligence. B) In all circumstances the plaintiff will recover more under pure comparative negligence than under partial comparative negligence. C) A state applying contributory negligence will allow the plaintiff to recover so long as his fault is minor. D) Because the plaintiff is partly at fault, he will not be able to recover under either comparative or contributory negligence. E) The plaintiff will have to elect whether to sue under comparative or contributory negligence.
Colorful Cat Company uses the direct method to prepare its statement of cash flows
Refer to the following financial statement information for the year ending December 31, 2017: Colorful Cat Company Comparative Balance Sheet December 31, 2017 and 2016 2017 2016 Increase (Decrease) Cash $33,000 $13,000 $20,000 Accounts Receivable 29,000 36,000 (7,000 ) Merchandise Inventory 56,000 29,000 27,000 Plant and Equipment, net 126,000 92,000 34,000 Total Assets $244,000 $170,000 $74,000 Accounts Payable $9,000 $13,000 $(4,000 ) Accrued Liabilities 7,000 3,000 4,000 Long-term Notes Payable 70,000 79,000 (9,000 ) Total Liabilities $86,000 $95,000 $(9,000 ) Common Stock $55,000 $3,000 $52,000 Retained Earnings 115,000 78,000 37,000 Treasury Stock (12,000 ) (6,000 ) (6,000 ) Total Stockholders' Equity $158,000 $75,000 $83,000 Total Liabilities and Stockholders' Equity $244,000 $170,000 $74,000 Colorful Cat Company Income Statement Year Ended December 31, 2017 Sales Revenue $291,300 Interest Revenue 1,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $298,300 Cost of Goods Sold 145,000 Salaries and Wages Expense 49,000 Depreciation Expense-Plant Assets 16,000 Other Operating Expense 25,000 Interest Expense 3,500 Income Tax Expense 7,800 Total Expenses 246,300 Net Income $52,000 â€Æ' Colorful Cat Company Statement of Retained Earnings Year Ended December 31, 2017 Retained Earnings, January 1, 2017 $78,000 Add: Net income 52,000 Less: Dividends 15,000 Retained Earnings, December 31, 2017 $115,000 Prepare the operating activities section of the statement of cash flows, using the direct method. What will be an ideal response