01 mai May 5-Received cash from clients on account, $1,750
1.The entry to record the equal distribution of net income between two partners consists of a debit to a)income summary and a credit to each partners capital account. b)each partners capital account and a credit to Cash. c)Income Summary and a credit to each partners drawing account. d)each partner's capital account and a credit to Income Summary.
2.A corporation has 2,000 shares of 10%, $50 par value preferred (nonparticipating and non cumulative) stock and 20,000 shares of $5 par-value common stock outstanding. If the board of the directors decides to distribute dividends totaling $150,000, the common stockholders will receive a dividend of ______a share. a)$7.00 b)$7.50 c)8.00 d)$
3.The entry to record the issuance of bonds at face value include a: a)credit to Bond Interest Payable b)credit to Bond Payable c)debit to Bond Interest Expense d)debit to Bond Interest Payable
May 31-Recorded cash from cash clients for fees earned for the period May 25-31, $2,875
4.In a vertical analysis of data, the cost of goods sold most likely would be expressed as a percentage of: a)net sales b)net income c)gross profit on sales d)total expenses
5.An example of an investing activity on the statement of cash flows is the: a)issue of preferred stock b)resale of treasury stock c)issue of bonds and notes payable d)purchase of property, plant, or equipment for cash