When common stock is sold by a corporation, a journal entry is prepared which includes a debit to cash and a credit to the common stock account. If the debit to cash is greater than the credit to the common stock account then it can be assumed that: 

Chapter 13

On June 1 of the current year, Cross Corp. issued $300,000 of 6% bonds payable at par with interest payment dates of April 1 and October 1. In its income statement for the current year ended December 31, what amount of interest expense should Cross report?

The currently maturing portion of long-term debt should be classified as a current liability if: 

You purchase an automobile from Hamlin Auto for $30,000 on January 2, 2020. Hamlin estimates the assurance-type warranty costs on the automobile to be $700 (Hamlin will pay for repairs for the first 36,000 miles or three years, whichever comes first). You also purchase for $900 a service-type warranty for an additional three years or 36,000 miles. Hamlin incurs warranty costs related to the assurance-type warranty of $500 in 2020, and $100 in each of 2021 and 2022. Hamlin records revenue on the service-type warranty on a straight-line basis. What journal entry(ies) should Hamlin make to record the sale and the automobile and the related warranties on January 2, 2020?  

Edmonds Company has bonds with a carrying value of $310,000 as of December 31, 2020, and Edmonds has chosen the fair value option for these bonds. At December 31, 2020, the value of the bonds is now $280,000 because its credit rating dropped from AA to BB.  

The __________ focuses on the immediately reciprocated communication between two or more people and the part that facial gestures, posture, tone of voice, and other gestures play in that communication.

Oriole Corporation made credit sales of $10,500 which are subject to 5% sales tax.  The corporation also make cash sales which totaled $12,600 including the 5% sales tax.  What balance of Sales Tax Payable would Oriole report?

During its first year of operations, Stellar Corporation had the following transactions pertaining to its $2 par common stock.  

The covenants and other terms of the agreement between the issuer of bonds and the lender