A company paid Jen Rogers, its sole stockholder, a total of $35,000 in dividends during the current year. The entry needed to close the dividends account is:
A. Debit Income Summary and credit Cash for $35,000.
B. Debit Dividends and credit Retained earnings for $35,000.
C. Debit Dividends and credit Cash for $35,000.
D. Debit Income Summary and credit Dividends for $35,000.
E. Debit Retained earnings and credit Dividends for $35,000.
Answer: E
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If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:
A. Assets and equity both understated. B. Assets overstated and equity understated. C. Assets, net income, and equity overstated. D. Assets overstated, net income understated, and equity overstated. E. Assets, net income, and equity understated.
In reviewing the Indian software industry and the diamond of national advantage, which of the following is a relatively weak set of factors in the national competitive advantage in this industry?
A. domestic demand conditions B. U.S. demand conditions C. domestic rivalry D. factor endowments
The Bahouth Bike Company has completed an exhaustive analysis for four suppliers of bicycle frames to support their business. They considered on-time speed, top quality and customization in their selection process
Each criterion is given a weight (total = 100 points), and each supplier is scored on each criterion (1 = poor, 10 = excellent). The data are shown in the following table. CRITERION WEIGHT A B C D Sustainability 3 9 2 0 1 Cost 6 3 0 3 10 Quality 8 4 0 9 4 On-time Delivery 4 0 6 1 0 Using the preference matrix (total weighted score) approach for selecting suppliers, which supplier should Bahouth select? What is its total weighted score?
The Equal Pay Act is administered by the:
a. World Trade Organization. b. Federal Human Rights Commission. c. United States Citizenship and Immigration System. d. Equal Employment Opportunity Commission.