Action Company sells bond investments classified as trading securities for $99,000. The face amount is $100,000; unamortized discount is $2,000. What must be included in the journal entry to record the sale?

Why should organizations be allowed to promote offensive, violent, sexual, or unhealthy products that can be legally sold and purchased?

Choose the correct statement (s) below regarding A. the direct write-off method for calculating bad debt expense. B. It is not normally consistent with GAAP and accrual accounting. C.

Suppose you want to invest $10,000. You have two options: (1) Invest in California municipal bonds with an expected rate of return of 13.00%, or (2) invest in J and K Corp.'s bonds with an expected rate of return of 19.50%.

If the supply of loanable funds shifts to the right, then the equilibrium interest ratea. and quantity of loanable funds risesb. and quantity of loanable funds fallsc. rises and quantity of loanable funds fallsd.

The accounting equation (Assets 5 Liabilities 1 Equity) is a fundamental business concept. Explain what this equation reveals about a company's sources and uses of funds and the claims on company resources

Wims, inc., has current assets of $6,000, net fixed assets of $25,100, current liabilities of $4,950, and long-term debt of $12,000. a. What is the value of the shareholders' eq

Businesses are most likely to grow during which of the following phases of the business cycle? A. expansion B. contraction C. trough D. recession

Zero Corp. suffered a loss having a material effect on its financial statements as a result of a customer's bankruptcy that rendered a trade receivable uncollectible.

Upward communication among organizational members at the same level can facilitate task coordination, provide means of sharing information, provide formal channel of communication for problem solving, and facilitate mutual support for staff involved.

Last year, a women's professional organization made two small-business loans totaling $23,000 to young women beginning their own businesses. The money was lent at 9% and 11% simple interest rates.