Which of the following formulas displays E5 as an absolute cell reference?

Carl Company has a monthly gross payroll of $6,000, which is subject to unemployment taxes (federal at 0.8% and state at 5.4%). All earnings are subject to 6.2% FICA taxes for Social Security, and 1.45% FICA Taxes for Medicare. Income tax (Federal and State combined) withholdings are 25% of total earnings. The entry to record the monthly Salaries Expense includes:

A) Credit to FICA - Medicare Taxes payable of $87 B) Credit to State Unemployment Taxes Payable of $324 C) Credit to Federal Unemployment Taxes Payable of $48 D) Debit to Payroll Taxes Expense of $831 E) Credit to Accrued Payroll Payable of $3,210

The residual dividend theory suggests that dividends should be paid to stockholders first, and then

what is left can be reinvested by the firm. Indicate whether the statement is true or false