_______________________ is the estimated sales price of damaged goods minus the
cost of making the sale.
_________________________ is the use of electronic communication to transfer cash
from one party to another.
When the maker of a note is unable or refuses to pay at maturity, the note is said to be
___________________.
A ___________________ is a record containing all accounts for a company along with
their balances.
Explain how investors report investments in equity securities when the investor has a
controlling influence over an investee.
A company had net income of $450,000 in 2009 and $620,000 in 2010. The company
had average total assets of $2,500,000 in 2009 and $3,000,000 in 2010. Calculate the
return on total assets for 2009 and 2010. Comment on the results.