Answer:
The correct answer is letter "B": The sum of the credits exceeds the sum of the debits in the Income Statement columns on the work sheet.
Explanation:
Net Income, bottom line, or total earnings or profits is a measure of how profitable the company is over a period of time. To find net income, we should take a look at the company's total revenue to subtract any expenses associated with the company's doing business. After deducting taxes from that amount we will have the company's net income.
In the case in the income statement credits exceed debits, the net income of a company is likely to be positive.
Answer:
The Journal entry is as follows:
Bonds Payable A/c Dr. $640,000
Premium on Bonds Payable A/c Dr. $19,200
To Gain on Redemption of Bonds $25,600
To Cash $633,600
(To record the re-acquisition of the bonds)
Working notes:
Cash = $640,000 × 0.99
= $633,600
Answer:
elect not to write the recommendation.
Explanation:
A job recommendation is a way of vouching for a person's behaviour, honesty, and qualifications to perform a job.
On important step before giving recommendations is to think carefully if you know and trust the person sufficiently to vouch for him.
If a recommendation is written about person and he fails to perform well, the person that wrote the recommendation will lose credibility and his career may be adversely affected.
In this instance since there are serious concerns about the qualifications of a job candidate who has asked you for a written recommendation, elect not to write the recommendation