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Rufina [12.5K]
3 years ago
14

On May 10, Sheffield Corp. issues 2,500 shares of $5 par value common stock for cash at $12 per share.

Business
1 answer:
Murljashka [212]3 years ago
3 0

Answer:

Explanation:

The journal entry to record the issuance of common stock is shown below:

Cash A/c Dr $30,000          (2,500 shares × $12)

    To Common Stock $12,500                 (2,500 shares × $5)

    To  Additional Paid-in Capital in excess of par - Common Stock $17,500

(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)

While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account

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When senior managers of a construction firm gather information to evaluate whether supply trends will have a significant effect
serg [7]

Answer:

The correct answer is letter "A": True.

Explanation:

Managers are in constant search of maximizing profits and minimizing costs. While talking about larger entities where suppliers take a key role for the business, high-rank executives look for different entities from where their supplies can be obtained without affecting the quality of their output but minimizing the expenses of the firm. These activities are considered inherent for the business.

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2 years ago
In a deferral adjustment for revenues collected in advance that are now earned, ______. a) the liability recorded when cash was
frosja888 [35]

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a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned

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Hence, the right option is a) the liability recorded when cash was received is decreased by the adjustment for the revenue being earned.

8 0
3 years ago
Which of the following statements is true regarding the effect of group cohesiveness and performance norms on group productivity
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2 years ago
The managerial role of a ________ is best described as giving direct command and orders to subordinates
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The managerial role of a <u>leader </u>is best described as giving direct command and orders to subordinates

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The pursuit of organizational goals efficiently and actually by including the work of people through planning, organizing, leading, and controlling. This process of management involves monitoring performance, reaching it with goals, and making adjustments if needed.

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