Substantial performance is available for all types of contracts
Indicate whether the statement is true or false
False
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Clabber Company has bonds outstanding with a par value of $112,000 and a carrying value of $104,500. If the company calls these bonds at a price of $101,000, the gain or loss on retirement is:
A. $7500 loss. B. $3500 loss. C. $3500 gain. D. $7500 gain. E. $11,000 loss.
Linking employee performance appraisal results to merit raises and promotions will only result in greater ethical behavior if what component is present?
a. Bonuses are only awarded for ethical behavior. b. Ethical misconduct is regularly punished. c. The company’s culture is ethical in nature. d. The appraisal itself has an ethics component.
What service imperative was described as receiving only secondary consideration at Sealink British Ferries?
What will be an ideal response?
On September 30, Waldon Co. has $540,250 of accounts receivable. Waldon uses the allowance method of accounting for bad debts and has an existing credit balance in the allowance for doubtful accounts of $13,750. 1. Prepare journal entries to record the following selected October transactions. The company uses the perpetual inventory system. a. Sold $305,000 of merchandise (that cost $178,500) to customers on credit.b. Received $395,100 cash in payment of accounts receivable.c. Wrote off $15,700 of uncollectible accounts receivable.d. In adjusting the accounts on October 31, its fiscal year-end, the company estimated that 4.0% of accounts receivable will be uncollectible.2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its October 31 balance sheet.
What will be an ideal response?