Use the following information to calculate the company's accounting net income for the year
Credit Sales $800,000
Cash Sales $500,000
Operating Expenses on Credit $200,000
Cash Operating Expenses $700,000
Accounts Receivable (Beg. of Year) $50,000
Accounts Receivable (End of Year) $80,000
Accounts Payable (Beg. of Year) $50,000
Accounts Payable (End of Year) $100,000
Corporate Tax Rate 40%
A) $125,000 B) $120,000 C) $240,000 D) $300,000
C
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When the market rate of interest was 12%, Halprin Corporation issued $1,000,000, 11%, 10-year bonds that payinterest annually. The selling price of this bond issue was
a. $321,970 b. $1,000,000 c. $943,494 d. $621,524
Ridgeline Excavation & Construction, LLC, creates an internal code of ethics. Like the codes of other firms, Ridgeline's company code isnot
a. law. b. a set of rules that the company can enforce. c. an outline of the company's policies. d. a guide for decision makers facing ethical questions.