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The state unemployment tax rate is usually 4% on the first $7,000 of wages paid to an
employee during the year.
Answer:
When counting the exact number of days to determine the maturity date of a note, the
date of issue is included but the due date is omitted.
Answer:
The ______________ ratio measures the percentage of earnings distributed in the form
of cash dividends.
Answer:
A $30,000, 8%, 9-month note payable requires an interest payment of $1,800 at
maturity.
Answer:
Adrland Caselotti believes revenues from credit sales may be recognized before they
are collected in cash. Do you agree? Explain.
Answer:
The adjusted trial balance of C.S. Financial Planners appears below. Using the
information from the adjusted trial balance, you are to prepare for the month ending
December 31, 2015:
1> an income statement.
2> a retained earnings statement.
3> a balance sheet.
Answer:
Which of the following combinations presents correct examples of liquidity,
profitability, and solvency ratios, respectively?
Answer:
Indicate the worksheet column [income statement Dr., balance sheet Cr., etc.) to which
each of the following accounts would be extended.
Answer:
