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Birch issued 200 shares of $12 par common stock in exchange for a piece of equipment with a current market value of $3,000.Whichof the following is not part of the journal entry for tis transaction? A.Debiting Equipment for $3,000 B.Crediting Common Stock for $3,000 C.Crediting Common Stock for $2,400 D.Crediting Paid in Capital in Excess of Par_common for $600 My answer B Isaiah Corporation's Accounts Receivable increased by $35,00 and its Accounts Payable Decreased by $18,000.What is the net effect on cash from operations under the indirect method? A.-$53,000 B.+$35,000 C.+$17,000 D.-$18,000 My answer is c Case company has 5,000 shares of treasury cost that it purchased for $13 per share. It later resold 2,000 of those shares for $17 per share. The amount to be credited to Paid-in Capital--Treasury Stock is A.$26,000 B.$34,000 C.$8,000 D.$30,000
Q. What do you mean by Net sales? We demonstrate a condensed income statement to emphasize its major divisions. Next, we explain the more complete income statement actually pre
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Dunmore Coal and Iron purchased $1,000,000 in corporate bonds and 500,000 shares of common stock in its competitor, Olyphant Iron. Dunmore plans to hold onto the bonds until the ma
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Q. What do you mean by Stock? Stock -- a certificate (or electronic or other record) which indicates ownership of a portion of acorporation; a share of stock. Preferred stock p
Over the past two decades, the People's Republic of China has invested billions of RMB in domestic and international air travel capability. Today, almost every major city in China
AL MASA a sole trader,decided to install a new machine to use within her sole trader business
1. Whate are the challenges faced in trade and solutions those problems?
Q. Introduction to inventories? Subsequent to studying this chapter you should be able to - Record the journal entries for sales transactions involving merchandise. - Exp
Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area
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