Dorman Company Had the Following Items to Report on Its

question 62

Multiple Choice

Dorman Company had the following items to report on its balance sheet: $\begin{array}{lr}\text { Employee advances } & \$ 1,580 \\\text { Amounts owed by customers for the sale of services (due in } 30 \text { days) } & 3,050 \\\text { Refundable income taxes } & 1,120 \\\text { Interest receivable } & 950 \\\text { Accepted a formal instrument of credit for services (due in } 18 \text { months) } & 2,220 \\\text { A loan to company president } & 10,000\end{array}$ Based on this information what amount should appear in the "Other Receivables" category?

• A)$20300
• B)$13650
• C)$15030
• D)$17250

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Definitions:

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws, regulating the securities industry, and overseeing the nation's stock and options exchanges.

1934 Act

The Securities Exchange Act of 1934, which governs the trading of securities, such as stocks and bonds, in the U.S.

Proxy Solicitations

The process of gathering votes or consents from shareholders by a party seeking to influence decisions or actions within a company, often related to corporate governance issues.

Proxy Statement

A document that a publicly traded company is required to send to its shareholders, containing information necessary to make informed decisions at shareholder meetings.