A general creditor is also referred to as an unsecured creditor

Kershaw Mfg. depreciates using the straight-line method for financial statement purposes and an accelerated method for tax purposes. The cumulative difference between the two methods grew in the current year. How would Kershaw ADJUST THE PP&E account from the straight-line to the tax depreciation method?

a. Multiply the portion of the deferred tax liability relating to PP&E by the tax rate and add that amount to reported PP&E. b. Divide the portion of the deferred tax liability relating to PP&E by the tax rate and deduct that amount from reported PP&E. c. Multiply the portion of the deferred tax liability relating to PP&E by the tax rate and deduct that amount from reported PP&E. d. Divide the portion of the deferred tax liability relating to PP&E by the tax rate and add that amount to reported PP&E.

A buyer made an offer on a property but refused to give a $500 deposit to the broker, as specified in the listing. He agreed to give the broker $500 as deposit as soon as the seller accepted the offer. Which of the following should be written in the form:

A: Buyer agrees to deposit $500 upon acceptance by the buyer; B: Broker to collect $500 from buyer on seller's acceptance; C: Buyer agrees to deposit $500 cash with the broker immediately upon seller's acceptance; D: This offer would be void since there was no consideration for the contract.