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Question - Job Inc. owns 20,000 shares of Nojob Company which it bought in 2005. Nojob's total stockholders' equity is as follows:
Common stock, $20 par $500,000
Additional paid in capital 200,000
Retained earnings 200,000
Total common equity $900,000
Nojob issues 5,000 previously unissued shares of common stock in the market for $50 per share.
Required: Assume outsiders buy the stock. What journal entry is required by Job?
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moiton co.s assets include notes receivable from customers. during fiscal 2010 the amount of notes receivable averaged
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