In general, a data destination will be shown by
A) an arrow pointing away.
B) an arrow pointing in.
C) arrows pointing both ways.
D) no arrows, only two horizontal lines.
Answer: B
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Happy Holidays, Inc has 110,000 shares of common stock issued and outstanding, with a par value of $0
03 per share. It declared a 17% common stock dividend; market value is $14 per share. Which of the following is the correct journal entry to record the transaction? (Round your answers to the nearest whole dollar.) A) debit Stock Dividends $261,800 and credit Paid-In Capital in Excess of Par-Common $261,800 B) debit Stock Dividends $261,800, credit Common Stock Dividend Distributable $561, and credit Paid-In Capital in Excess of Par-Common $261,239 C) debit Stock Dividends $261,800 and credit Cash $261,800 D) debit Common Stock Dividend Distributable $561, debit Paid-In Capital in Excess of Par-Common $261,239, and credit Retained Earnings $261,800
Without the permission of the inventor, Five Star Automobile Manufacturing copied the engine design of an innovative competitor. What is Five Star guilty of?
A. patent infringement
B. trademark infringement
C. corporate liability
D. profit minimization