Issuing a $1,000 bond for cash of $900, has what effect on the financial statements?  

Nash Company began operations on January 2, 2019.  It employs 10 individuals who work 8-hour days and are paid hourly.  Each employee earns 9 paid vacation days and 6 paid sick days annually.  Vacation days may be taken after January 11 of the year following the year in which they are earned.  Sick days may be taken as soon as they are earned; unused sick days accumulate.  Nash Company records both vacation pay and sick pay as compensated absences. Nash Company accrues the cost of compensated absences at rates of pay in effect during the period when the absences are earned. Additional information is as follows:    

An enterprise is required to exclude a short-term obligation from current liabilities if it intends to refinance the obligation on a long-term basis and:

Angela, a sociologist, is conducting a study on divorce and the factors that affect it. She personally believes that modern couples do not take relationships seriously and is of the opinion that married couples should stick together through thick and thin. However, she knows that she should be objective in her study and, therefore, employs an approach that allows her to gain the ability to see the world from the perspective of others. Which of the following approaches is Angela most likely using?

Which dividends do not reduce stockholders’ equity?

A __________ has specific geographic territories and borders within which communication and transportation make it possible for people in a larger geographic area to share a common language and culture.

__________ cannot always be met by one person, so being in a group enables one to complete tasks or fulfill a specific goal.

When treasury stock is purchased for more than the par value of the stock and the cost method is used to account for treasury stock, what account(s) should be debited?

Denson Machinery Company begins production of a new machine in July 2020 and sells 100 of these machines for $5,000 cash by year-end for a total sales revenue of $500,000 (100 × $5,000). Each machine is under warranty for one year. Denson estimates, based on past experience with similar machines, that the warranty cost will average $200 per unit for a total expected warranty expense of $20,000 (100 × $200). Further, as a result of parts replacements and services performed in compliance with machinery warranties, it incurs $4,000 in warranty costs in 2020 and the remainder in 2021. Which of the following journal entries is appropriate for recording the accrual at December 31, 2020?  

Chapter 13