Five people go out to lunch and agree to divide the check evenly. If the check, including the tax, comes to $75, how much will each person pay?

A. $5

B. $15

C. $10

D. $25

Tremonti, Inc., is obligated to pay its creditors $9,200 during the year. a. What is the value of the shareholders' equity if assets equal $10,900? b. What is the value of the shareholders' equity if assets equal $8,500?

CorpServ is a small company with 14 client systems and a network printer. Because there are only a limited number of networked systems, you decide to use APIPA addressing for the network.

A salesperson at Costco invites you to sample a new cheese and you agree. When she tells you that the cheese is on special in the case behind her, you take a package to purchase. The salesperson appears to have made effective use of

Claudia and Patrick would like to dissolve their business partnership. They are confident that they can work collaboratively on the terms of the settlement, but they do not have much money to spend on the process and are nervous about the prospect

Richards Corporation had net income of $185,808 and paid dividends to common stockholders of $44,800. It had 55,300 shares of common stock outstanding during the entire year. Richards Corporation's common stock is selling for $68 per share.

The same person opens incoming mail and posts the accounts receivable subsidiary ledger.

George failed to pay $5,000 of income tax due with the filing of his return, which was timely filed on April 15th. He waits until June 10th after April 15th to pay the tax. How much will his penalties be?

On November 1, 2019, Juno, Inc. declared a dividend of $3.00 per share on common stock. Juno, Inc. has 10,000 shares of common stock outstanding and 20,000 shares of preferred stock.

Fallon Corporation reports net income of $370,000. Accounts Receivable balances at the beginning and end of the year were $40,000 and $48,000, respectively. Beginning and ending Inventory balances were $60,000 and $54,000, respectively.

An asset was purchased for $60,000 and originally estimated to have a useful life of 10 years with a residual value of $3,000.