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otez555 [7]
2 years ago
15

ma Rich purchased 100 shares of Stockits, Inc.'s $1 par value common stock from Stockits for $5 per share. Which statements are

true regarding the effect of this transaction on Stockits' financial statements? (Select all that apply.) Multiple select question. A gain on will be reported on the income statement. Stockholders' equity on the balance sheet increases. The investing activities section of the statement of cash flows increases. The financing activities section of the statement of cash flows increases. Stockholders' equity on the balance sheet decreases.
Business
1 answer:
vivado [14]2 years ago
4 0

The correct options for Which statements are true regarding the effect of this transaction on Stockits' financial statements are B. Stockholders' equity on the balance sheet increases. C. The financing activities section of the statement of cash flows increases.

Equity is something invested in the company by using its owner or the sum of the entire belongings minus the sum of the company's general liabilities. E.g., common stock, additional paid-in capital, favored inventory, retained income, and the amassed different complete earnings.

For most companies, high stockholders' equity shows more stable finances and greater flexibility in case of an economic or financial downturn. information stockholders' equity is one way that buyers can learn about the monetary health of a firm.

Your question is incomplete. Please read below for the missing content.

ma Rich purchased 100 shares of Stockits, Inc.'s $1 par value common stock from Stockists for $5 per share. Which statements are true regarding the effect of this transaction on Stockits' financial statements? (Select all that apply.)

A. A gains will be reported on the income statement.

B. Stockholders' equity on the balance sheet increases.

C. The investing activities section of the statement of cash flows increases.

D. The financing activities section of the statement of cash flows increases.

E. Stockholders' equity on the balance sheet decreases.

Learn more about Equity here brainly.com/question/1957305

#SPJ1

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Why understanding culture is important to business around the word?<br><br><br>​
Kamila [148]

Answer:

Understanding a country's culture is a sign of respect. It also helps to foster effective communication, a vital factor in business success. ... Values and attributes such as frugality, trust and endurance may be viewed differently in other countries.

8 0
3 years ago
"Variable costs are expenses that" ________. A. remain constant on a per-unit basis but change in total based on activity level
mafiozo [28]

Answer:

A. remain constant on a per-unit basis but change in total based on activity level

Explanation:

In the short run, variable costs only vary according to the total output of the company. E.g. a company's variable cost of manufacturing product X is $10 per unit. If it produces 10,000 units, total variable costs will = $10 x 10,000 = $100,000.

In the long run variable costs will probably vary because production processes will also vary or the cost of inputs change.

4 0
3 years ago
In which of the following circumstances is it not advantageous for a multinational competitor to concentrate its activities in a
Dmitry_Shevchenko [17]

Answer:

Option D is correct.

<u>When a company has a competitively superior patented technology that it can license to foreign partners</u>

Explanation:

It not advantageous for a multinational competitor to concentrate its activities in a limited number of locations in order to build competitive advantage if it has a competitively superior patented technology that it can license to foreign partners.

6 0
3 years ago
Economics may best be defined as the Multiple Choice
AysviL [449]

Answer:

2. social science concerned with how individuals, institutions, and society make optimal choices under conditions of scarcity.

Explanation:

Economics is defined as a study of how a society uses its limited resources. It deals with consumption, distribution, and production of goods and services.

Economics tries to find ways that unlimited wants can be satisfied with limited resources. Theories postulated are focused on how to optimally use scarce resources for production of goods and services, how am individual or organisation can maximise it's utility of a product.

8 0
3 years ago
Mountain Mining paid $ 598 comma 100 for the right to extract mineral assets from a 450 comma 000​-ton deposit. In addition to t
Vlad [161]

Answer:

a. Minerals A/c Dr $598,100

         To Cash A/c $598,100

(Being the minerals purchased for cash)

b. Various vendor A/c Dr $76,900

             To Cash A/c $76,900

(Being payment of fees is recorded)

c. Depletion A/c Dr $79,500

           To Minerals A/c $79,500

(Being the depletion for the first year is recorded)

Explanation:

The journal entries are shown below:

a. Minerals A/c Dr $598,100

         To Cash A/c $598,100

(Being the minerals purchased for cash)

b. Various vendor A/c Dr $76,900

             To Cash A/c $76,900

(Being payment of fees is recorded)

Minerals A/c Dr $76,900

        To Cash A/c $76,900

(Being payment of fees is recorded)

The computation is shown below:

= Filling fee + license fee + geological survey of the property

= $300 + $1,600 + $75,000

= $76,900

c. Depletion A/c Dr $79,500

           To Minerals A/c $79,500

(Being the depletion for the first year is recorded)

The computation is shown below

First we have to compute the depletion per ton which is presented below:

= (Paid amount of Mountain Mining + Filling Fee + License fee - Geological survey of the property) ÷ (Number of tons deposit)

= ($598,000 + $300 + $1,600 + $75,000) ÷ (450,000 tons)

= $1.59

Now if 50,000 tons are sold in first year, so the depletion would be

= 50,000 tons × $1.59

= $79,500

4 0
3 years ago
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