Culver corporation is preparing its december 31, 2020, balance sheet. the following items may be reported as either a current or long-term liability. 1. on december 15, 2020, culver declared a cash dividend of $3.00 per share to stockholders of record on december 31. the dividend is payable on january 15, 2021. culver has issued 1 shares of common stock, of which 5 shares are held in treasury. 2. at december 31, bonds payable of $109993000 are outstanding. the bonds pay 12% interest every september 30 and mature in installments of $27498250 every september 30, beginning september 30, 2021. 3. at december 31, 2019, customer advances were $13996000. during 2020, culver collected $30181000 of customer advances; advances of $26405000 should be recognized in income. for each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.
- reported as

1.dividends payable $ current liability long-term liability

2. bonds payable (september 30, 2018 installment) $ current liability long-term liability

interest payable $ current liability long-term liability

3. customer advances $ current liability long-term liability

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

Read the following scenario and answer the question in 5-10 sentences. you are the owner of a small business that is a defendant in a lawsuit in federal court. you received bad news from your lawyer that the judge did not allow certain documents to be admitted as evidence in court and that the jury reached a $50,000 verdict in favor of the plaintiff. your lawyer tells you that it is within your legal right to hire him to file an appeal with the united states court of appeals. if the appellate court rules in your favor, you may be able to avoid paying part or all of the $50,000. evaluate your lawyer’s suggestion about appealing the decision.

By which distribution system is more than 90 percent of u.s. coal shipped? a. pipelinesb. trucksc. waterwaysd. railroadse. none of the above