9. Notes may be issued a. To creditor's to temporarily satisfy an account payablecreated earlier. b. When
Question:
9. Notes may be issued
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10. The journal entry a company uses to record the paymentof an interest-bearing note is:
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11. Which of the following taxes would be deducted indetermining an employee's net pay?
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12. Which of the following isnot characteristic of a corporation?
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13. The ability of a corporation to obtain capital is:
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14. A Stock split of 1:3 would:
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15. The Crafter Company has the following assets andliabilities:
ASSETS |
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Cash | $28,000 |
Accounts receivable | 15,000 |
Inventory | 20,000 |
Equipment | 50,000 |
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LIABILITIES |
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Current portion of long-term debt | 10,000 |
Accounts payable | 2,000 |
Long-term debt | 25,000 |
Determine the quick ratio (rounded to one decimal point).
a.3.6
b.2.3
c.3.3
d.5.3
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill