When does a cash dividend become a legal liability?

a. never, because it is paid

b. on date of record

c. on date of payment?

On July 2, 19X2, Wynn, Inc., purchased as an available-for-sale security a $1,000,000 face value Kean Co. 8% bond for $910,000 plus accrued interest to yield 10%. The bonds mature on January 1, 19X9, and pay interest annually on January 1.

Jamara has started a home party business that hosts parties and those attending paint signs. Jamara must pay $500 a year to be a representative for Paint A Sign.

Firms in the patented pharmaceutical industry earned an average return on net worth of 22 percent in 2006, compared with an average return of 14 percent earned by over 1,400 firms followed by Value Line.

The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,450,000, and the December 31, 2016, balance sheet showed long-term debt of $1,680,000. The 2016 income statement showed an interest expense of $99,000.

Richard donates publicly traded gold company stock with a basis of $1,000 and a fair market value of $15,000 to the college he attended, which is considered a public charity. richard has owned the shares for 10 years.

Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid in capital in excess of par, common stock 1,200,000 Retained earnings 2.500.

On January 1, 2013, M. Johanson Company purchased equipment for $36,000. The company is depreciating the equipment at the rate of $500 per month. The book value of the equipment at December 31, 2013 is:A) $0. B) $6,000. C) $30,000. D) $36,000.

Department B had a beginning inventory of 2,400 units, 25% completed; an ending inventory of 2,700 units, 2/3 completed, and received 4,900 units during the period from Department A.

Suppose two paper plants dump industrial waste into a river. The EPA decides pollution concentration is too high at a receptor site down river from the paper plants.

What is an ineffective practice with regard to building trust within your department?