The correct answer is:
C. Income.
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Answer:
1)
Debit Cash/Bank 27,000 (4,500 shares x $6 per share)
Credit Common Stock 13,500 (4,500 shares x $3 per share)
Credit Paid-In Capital in Excess of Stated Value—Common 13,500 (4,500 shares x $3 per share)
2)
Debit Cash/Bank 135,000 (4,500 shares x $30 per share)
Credit preferred Stock 135,000 (4,500 shares x $30 per share)
Explanation:
any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"
Answer:
$9,309
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
DEPRECIABLE COST / USEFUL LIIFE
$55,853 / 6 = $9,309
Answer:
A) employers of a business
Explanation:
Employers in business may be the management or business owners. As owners or managers, they are interested in the financial performance of the company. They are internal users of accounting information. Internal users evaluate and analyze accounting information to make critical decisions and take necessary actions to improve business performance and profitability.
External users are the lenders, investors, government agencies, suppliers, and the general public. Each will analyze the accounting information to guide them on how to further their interest in the business.
The answer is adequate capitalization.
In legal terms, piercing the Corporate Veil refers to a circumstance in which the court lifts limited liability and holds the corporation's owners and/or directors personally liable for the corporation's debts or acts. In many ways, the idea violates the widely held belief that a corporation is an autonomous legal entity with full accountability for its debt as well as the advantages arising from credit provided to it.
The Corporate Veil is a barrier that shields members from the company's actions. Simply put, if a firm breaches a law or incurs obligation, its members cannot be held accountable.
Hence , the correct option is adequate capitalization.
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