Answer:
Journal Entries are as follows.
Explanation:
1. Cash $25,000 (Debit)
Common Stock $ 25,000 (credit)
2. Wages $10,000 (debit)
Cash $10,000 (credit)
3. Land $ 50,000 (debit)
Common Stock $50,000 (credit)
4. Dividend Declared $ 1000 (debit)
Dividend Payable $ 1000 ( credit)
And
Dividend Payable $ 1000 ( debit)
Cash $ 1000 (credit)
5. Cash $ 3000 (debit)
Long Term Investment $ 3000 (credit)
6. Cash $ 20,000 (debit)
Sales $ 20,000 ( credit)
7. Inventory $2000 (debit)
Cash $ 2000 (credit)
8. Investment $ 6000 ( debit)
Cash $ 6000 (credit)
9. Bonds Payable $ 10,000 (debit)
Discount $ 1000 (credit) ( if there's any)
Common Stock $ 9,000 ( credit ) ( in case of discount)
10. Notes Payable $ 10,000 (debit)
Interest on Notes Payable $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)
Cash $ 11,000 (credit)
Answer:
Account Balance sheet classification
a. Accounts payable Current liabilities
b. Accounts receivable Current Assets
c. Accumulated depreciation Property,plant and equipment
d. Buildings Property,plant and equipment
e. Cash Current Asset
f. Goodwill Intangible Asset
g. Income taxes payable Current liabilities
h. Investment in long-term bonds Long term investment
i. Land Property,plant and equipment
j. Inventory Current Assets
k. Patent Intangible Asset
l. Supplies Current Assets
Answer:
The answer is idea generation.
Explanation:
Idea generation refers to the process of creating and developing ideas. During this process, General Mills would come up with ideas and test whether this product would interest people to buy it. At this step as well General Mills can explore why previous products did not succeed and strive to counter these obstacles in the future product.
Answer:
OPERATING ACTIVITIES
SOURCES: INTEREST RECEIVED IN CASH $18,000, the company receives money
(USES:) PAYMENT OF WAGES TO EMPLOYEES $35,000, the company pays wages
INVESTING ACTIVITIES
SOURCES: NONE
(USES:) PURCHASE OF A PIECE OF EQUIPMENT FOR CASH $120,000 , the company pays for the equipment
FINANCING ACTIVITIES
SOURCES: NONE
(USES:) DISTRIBUTION OF CASH DIVIDEND DECLARED LAST YEAR $25,000, the company pays dividends
