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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
Government: In a mixed economy this is seems to be the duty of the Government to direct the operation of the economic system in that a way which it subseries the general good. Con
what is implication wrongly application of accounting concept#
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
o depreciation on the building has been recorded in 2016. Depreciation on the building is based on Double-Declining Balance. It was purchased on 1/1/15 and has an estimated useful
Which type of error would cause an entry in the suspense account? A. A page total from the purchases journal was posted as $9780 rather than the correct figure of $9870. B. C
The transactions for February need to be processed on MYOB with the Username:n10026509 and no password and make sure the audit trail is on. Then Part B is a performance report. The
Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent
Explain the Terms of Payment Revolving charge plans are set up so that you can pay a percentage plus a finance charge on a monthly basis. Credit terms - allow purchaser a
hello, i am in Malaysia and try to reconcile a bank statement in USD. I am confuse on which currency should i follow to enter the bank transactions. If follow in USD, i could not
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
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