Roger Technologies invests $50,000 to acquire $50,000 face value, 8%, five-year corporate bonds on January 2, 2017. The bonds will mature on January 2, 2022. The bonds pay interest semiannually on January 2 and July 2 each year until maturity. When Roger Technologies receives interest payments, how is the accounting equation affected?
A) assets will decrease
B) total assets will remain unchanged
C) liabilities will decrease
D) equity will increase
D) equity will increase
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Answer the following statements true (T) or false (F)
1) The entry to close Sales Discounts Forfeited will include a debit to Income Summary. 2) The last step of the closing process of a merchandiser is to make the expense accounts equal zero via the Income Summary account. 3) When using the perpetual inventory system, the entry to close Cost of Goods Sold will include a debit to Income Summary. 4) The entry to close Sales Revenue includes a debit to Income Summary.
______ refers to new or improved product development.
a. Product mix b. Product design c. Product assortment d. Product selection
Answer the following statements true (T) or false (F)
Classifying leases as either operating or capital leases is an example of attempting to establish finite uniformity.
The Clean Water Act permits the filling or dredging of wetlands without a permit
a. True b. False Indicate whether the statement is true or false