Inventory refers to the stock held by the company. An example of inventory could be "Fancy dishes and silverware used at a restaurant".
<h3>What is an inventory?</h3>
Inventory can be defined as the stock of goods or raw materials held by the company for further production or for sales.
Inventory varies from business to business. For example, for a scooter dealer, the scooters available at the store are his inventory.
For a restaurant business, the dishes, bowls, other utensils, tables, oil, and so on are considered as inventory.
Therefore, the correct option is C.
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Answer:
Yes.
The proprietor and the friend were accessories to the crime. They could have prevented it, but they did nothing. The friend even participated actively in the robbery.
Explanation:
In criminal law, an accessory to a crime refers to a person who knowingly and voluntarily participates in the commission of a crime, for example, breaking rental storage. They can be categorized as before the crime (the proprietor who sold the crossbar) or after the commission of the crime (the friend that facilitated the robbery). Accessories to a crime need not be actually present at the scene of the robbery to be held liable for this crime.
Answer:
$100
Explanation:
As we know that:
Paid-in Capital = Amount Received - Common stock at par value
During the issuance of common shares:
Here the par value given is $6 per share, so the total common stock value for 100 shares is $600 (100 shares * $6 per share) and the amount received is $700 when the common stock was issued.
So by putting the value in the above equation we have:
Paid in Capital = $700 - $600 = $100
Entry of issuance of shares:
Dr Cash $700
Cr Common stock $600
Cr Paid in capital $100
So now remember that the maximum decrease in paid in capital to repurchase of common stock would be by $100 because this is the amount that is related to purchased common stock of 100 quantity.
So if the company purchases its common stock higher than the value it was issued before then it will decrease the paid in capital by the amount that is related to the stocks that have increased paid in capital (100 shares increased the paid in capital by $100) and the resultant would be deducted from the retained earnings.
The journal entry of Purchase of Treasury
Dr Common Stock $600 .... Decrease in Com.Stock at par value ($6*100)
Dr Paid in Capital $100 .... Decrease in APIC at associted share ($7-$6)
Dr Retained Earnings 300 .... Remainder ($1000-$600at par - $100Paid In)
Cr Cash $1,000
The name which is given to the process where cash from operating activities is presented <em>using the indirect method</em> and the net income must be balanced is:
- <u>Indirect Cash Flow Method</u>
According to the given question, we are asked to state the name which is given to the process where cash from operating activities is presented <em>using the indirect method</em> and the net income must be balanced.
As a result of this, we can see that this is called Indirect Cash Flow Method because here, the cash flow can be deduced by <em>checking and making some calculations</em> on the net income from the <em>transactions </em>which were not done in cash.
Therefore, the correct answer is Indirect Cash Flow Method
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Answer:
b) To undertake economic risk
Explanation:
It means Musk started the business using his own limited and personal funds, this decision is considered a high financial or economic risk decision.
Economic risk are the different situations that could make a business economically unstable based on various decisions made.