Statements best describes this transaction

Assignment Help Financial Accounting
Reference no: EM13747137

You recently sold 100 shares of your new company, XYZ Corporation, to your brother at a family reunion. At the reunion your brother gave you a check for the stock and you gave your brother the stock certificates. Which of the following statements best describes this transaction?

This is an example of an exchange of physical assets.

This is an example of a primary market transaction.

This is an example of a direct transfer of capital.

This is an example of a money market transaction.

This is an example of a derivatives market transaction

Reference no: EM13747137

Questions Cloud

Reports income from continuing operations before income tax : In 2014, Wade Corp. sold equipment for $36,500. The machine had originally cost $81,700 and had accumulated depreciation of $34,800. The gain or loss is considered ordinary. The company discontinued operations of one of its subsidiaries during the cu..
Market segmentation - targeting and positioning : Market Research- Consumer Buyer Behaviour and Market Segmentation. targeting and positioning
Briefly describe the trans atlantic slave trade : briefly describe the Trans Atlantic Slave Trade. construct a narrative regarding slavery in Brazil by analyzing the primary evidence in the form of newspaper ads presented by Robert Conrad in term of labor.
Statements best describes this transaction : You recently sold 100 shares of your new company, XYZ Corporation, to your brother at a family reunion. At the reunion your brother gave you a check for the stock and you gave your brother the stock certificates. Which of the following statements bes..
Rules for approaching a transportation hazmat : All of the following are basic rules for approaching a transportation Hazmat incident EXCEPT and he actual definition of Hazmat for Federal purposes appears in
Contract to complete a cost reduction program : On January 1 Revis Consulting enters into a contract to complete a cost reduction program for Green Financial over a six-month period. Green will pay Revis $20,000 at the end of each month. If total cost savings reach a specific target, Green will pa..
What was its days sales outstanding : As of December 31, 20XX, David Corp's accounts payable were $4,000,000. Its accounts receivable were $2,200,000, and its sales for 20XX were $32,000,000. What was its days sales outstanding?
What amount was transferred to finished goods : During 2013, Durham Manufacturing expected Job No. 51 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Durham applied overhead based on direct labor cost. Actual production required an overhead cost of $290,000, $550,000 in..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Compute the amount of cash to be reported in the balance

compute the amount of cash to be reported in the balance sheet.the controller for clint eastwood co. is attempting to

  Compute the break-even point in total sales dollars

Compute the break-even point in total sales dollars and in units for 2014 and what effect would Paul's plan have on the profits and the break-even point in dollars of the partnership?

  Prepare direct materials price variance efficiency

prepare direct materials price variance efficiency variancelabor rate variance labor efficiency variance and pass

  Collected the amount due on the account recievable

Purchased inventory that cost $2,200 on account from Blue Co. under terms 1/10, n/30. The merchandise was delivered FOB shipping point. Freight costs of $110 were paid in cash.

  What is the objective of financial reporting

What is the objective of financial reporting and what other means are there of communicating information, besides financial statements?

  Impact of increase in production volume on sales cost and

impact of increase in production volume on sales cost and income.redi-watt generators inc. produced emergency backup

  A breakdown in cost centre format of the budget

A breakdown in cost centre format of the budget and a cost based risk assessment of the tender budget, including where the risk allocation would be made.

  Classification of cost in direct material

Classification of Cost in Direct material, Direct labor, Overheads etc - Research and development costs incurred by Thomas, manufacturer of derailleurs, brakes, and other component parts for bicycles in its efforts to develop new products.

  Illustrate consolidated sales and cost of goods sold

Intra-entity sales had the same markup as sales to outsiders. Skillet still had 40% of the intra-entity sales as inventory at the end of 2011. What are consolidated sales and cost of goods sold for 2011?

  Explain the financial effects of fifo and lifo

Using the perpetual inventory system, determine the cost of goods sold for December 2010 and cost of inventory on hand at 31 December 2010 under the following cost flow methods.

  What adjusting entry should be made to correct this error

The total price for this credit sale is $36,260. What adjusting entry should be made to correct this error?

  Determine the accounts receivable as of that date

Assume that the company will prepare a budgeted balance sheet as of September 30. Determine the accounts receivable as of that date.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd