Lumbers, Inc. lends 3,000 at 12 to an employee on September 1, 2012. The employee agrees to pay the interest and principal in two years. Which of the following will be reported on Lumbers' year ended December 31, 2012 financial statements?
A) The balance sheet will report Interest receivable of 120.
B) The income statement will report Interest revenue of 0.
C) The statement of cash flows will report Cash received for interest of 120.
D) The income statement will report Interest income of 360.
Question 2
The International Accounting Standards Board (IASB) is responsible for setting the International Financial Reporting Standards (IFRS).
Indicate whether the statement is true or false
The 2012 U.S. presidential campaign rang with “get tough” cries to end Iran’s nuclear capacity and c
Teen Birthrate from 1990 to 2012
Example of an employee performance evaluation form Cont
The Location and Number of Farms in the United States, 2012
SK September 15 2023
September 29 2023