Valley corporation pays for a trip to barbados for its top two salespersons. this expense is not subject to the 50 percent rule.

a. True

b. False

Larkspur, Inc. issues $4.2 million, 5-year, 7% bonds at 103, with interest payable on January 1. The straight-line method is used to amortize bond premium. Prepare the journal entry to record the sale of these bonds on January 1, 2017.

The Giles Agency offers a 10% trade discount when providing advertising services of $1,000 or more to its customers.

After the December 31, 2019 adjusting journal entries have been posted, Sinclair Enterprises has the following account balances (all accounts have normal balances) are: Account Title Account Balance Accounts Receivable $159,000 Allowance for Bad

Which of the following actions would cause an increase in the level of reserves in the banking system? (A) A customer withdraws funds from Reliable Bank and deposits them in National Bank.

Your college newspaper, The Collegiate Investigator, has fixed production costs of $76 per edition and marginal printing and distribution costs of 42¢ per copy. The Collegiate Investigator sells for 62¢ per copy.

An agreement to settle a debt for less than the sum claimed is referred to as? a.? rescission. b. a satisfaction. c.? an accord. d.? a promisory estoppel.

In economics, what is logrolling?

In year 1 the CPI is 140, and in year 2 the CPI is 154. From year 1 to year 2, Maria's salary rises from $43,000 to $48,000, and Daisy's salary rises from $65,000 to $70,000. Who is "more than keeping up with inflation"?

Under a perpetual inventory system: a) purchases on account are debited to Purchases. b) purchase returns are debited to Purchase Returns and Allowances. c) freight costs are debited to Freight-Out. d) purchases on account are debited to Inventory.

Prepare various types of budgets