Answer:
its trade deficit rose
Explanation:
Trade deficit occurs when the imports of a country are higher than the exports. It is called the trade deficit. It means the country is importing more value of goods from other countries and exporting less. When Imports grows higher than the growth in exports, the trade deficit eventually rises.
The answer is
D. Debit Cash $2,000; debit Equipment $4,000; credit Nathan’s Capital $6,000
Answer:
Paid in capital excess of par is $$309,000
Explanation:
<u>Journal Entries</u>
Debt: Legal services (4,100 hours × $100 per hour) = $410,000
Credit: Common stock (101,000 shares × $1 par) = $101,000
Credit: Paid-in capital - excess of par (Remainder) = $309,000
To record the 101,000 shares compensated by 4,100 legal hours with $1 par value)
In the above transaction common stock issued in excess of par for legal services as compensation instead cash. Hence "legal services" have been debited as issuing company benefited for legal services. "Common stock" and "paid in capital in excess of par" has been credited as this issuing company issuing common stock.
Paid in capital excess of par is $$309,000
Answer:
Explanation:
David:
Earnings from Apple Company (office manager)
$26,125
Federal income tax withheld
2,800
State income tax withheld
1,050
Darlene:
Earnings from Rose Company (perfume tester)
$25,100
Federal income tax withheld
2,650
State income tax withheld
900
Their other income includes interest from Pine Tree Savings and Loan of $1,825. Other information and expenditures for 2016 are as follows:
Interest:
On home acquisition mortgage
$11,250
Credit card
925
Taxes:
Property taxes on personal residence
1,300
State income taxes paid in 2016 (for 2015)
315
Contribution (with written acknowledgement) to church
990
Medical insurance
475
Medical and dental expenses
5,800
Income tax return preparation fee paid in 2016
200
Actual general state sales tax for 2016
1,016
Payment of union dues
225
Answer:
Customize reports
Review recurring transactions
Set up and implement an online bill pay service
Explanation:
Considering the situation described above, after converting to QuickBooks Online, the 3 setup and customization steps that are appropriate for this client are the following:
1. Customize reports: this includes forms and reports and, if possible to memorize reports.
2. Review recurring transactions: this is to restore desktop QuickBooks memorized transactions.
3. Set up and implement an online bill pay service: this is done either through Intuit Online Payroll or QBOP.
