Anaerobic organisms require oxygen to survive.

Sweetwater Inc. declares a 40% stock dividend on its 100,000 common shares outstanding. Just prior to the declaration of the dividend Sweetwater Inc.’s common stock had a $4 par value and a $25 market value. What amount of retained earnings should be transferred to the common stock account?

Characteristics of active continental margins include all of the following except:

On January 1, 2020 Paige Corporation issued $4,000,000, 10 year, 12% bonds. The bonds pay interest semi-annually. At the time of issuance the market rate of interest is 8%.  Calculate the issue price of the bond.

Which of the following have we covered Week 1? 

Oceanography is divided into four different academic disciplines or subfields of study. Which one is not mentioned in the textbook?

The shape of Earth’s hypsographic curve can be used to support the existence of plate tectonics.

Braun Company acquired a piece of equipment from Tipper Company under a lease. The lease requires eight annual lease payments of $30,000 with the first payment due when the lease begins, on January 1, 2020. Future lease payments are due on January 1 of each year of the lease term.  The interest rate in the lease is 6%.  What amount should Braun Company debit the equipment account on the date of acquisition. 

On January 1, 2020, Sweetwater Inc. issued $3 million of 5 year bonds at an 10% stated interest rate to be paid annually. Sweetwater Inc. issued the bonds at 103 since the market rate of interest was 9%. What amount would Sweetwater Inc. report as the interest expense of the bond on the income statement for the year ending December 31, 2021 (round to the nearest dollar).

Dora Enterprises has 200,000 shares of $1 par common stock outstanding. Suppose Dora Enterprises declares a 15% stock dividend when the market value of the stock is $40 per share. What journal entry should Dora Enterprises record for the declaration of the dividend?