Answer:
Common Stock
Explanation:
We know that
The debit sections track assets, expenses side, and dividend while revenues, stockholder equity, and the liability side are reported in the credit section.
So in the given question, the common stock has credit balance whereas the dividend, supplies, and the salary expense has a debit balance
By proper posting of accounts in the correct columns, the total of debit and credit columns would be matched.
Answer:
Whoever reads the chapter of the book the fastest is crowned the chapter king. It can be very competitive, and the competitors have to be very good readers.
Answer:
The amount of amortized organizational expenses for the year 2013 would be $6,333 ( approximately )
Explanation:
First of all the important point here to note is that while calculating the amortized organizational cost we only include the legal fee for drafting the corporate charter and not the commission paid to underwriter or cost incurred while selling the stock.
In the legal fee for corporate charter too there are limitations , as only $50,000 are allowed as total expenditure to be amortized over a period of 15 years or 180 months. Where for the first year the limitation allowed is $5000 and rest of the amount would be amortized over 180 months.
So $45,000 - $5000 = $40,000
$40000 / 180 = $222.22
Now multiplying this by 6 months as the operations of company began on 1 July , 2013,
$222.22 x 6 = $1333.32
Now adding this amount to $5000 will give us the total amortized organizational expense,
$5000 + $1333.32 = $6,333.32
= $6,333 ( approximately )
Answer:
1) To verify transactions have the correct date assigned to them. 2) To verify that an account balance is within its credit limit. 3) To verify that all transactions have been recorded for the period.
Explanation:
The answer is Checking account
Checking account is usually made by the company to serve for specific purposes. (for example, like checking account to handle travel expenses or checking accounts to buy office supplies) This type of account usually really easy to made and had no withdrawing restrictions, but they don't have high interest rate
