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Margaret [11]
4 years ago
9

When the balance of an equity account, like Capital Stock, increases, it means that the account has been: Multiple Choice Deposi

ted None of the choices are correct Credited Debited
Business
1 answer:
Soloha48 [4]4 years ago
8 0

Answer:

Credited

Explanation:

Equity Account <em>increase</em> on the credit side and <em>decrease </em>on the debit side.

So, when the account increased, we say it has been credited. This means further stock has been issued to new or existing owners.

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............................
Alenkasestr [34]

Answer:

.............................

Explanation:

7 0
3 years ago
On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four useful
Ymorist [56]

Answer:

$10,000

Explanation:

Depreciation is charged to every asset based on the life and usage of such asset.

Straight line depreciation method charges equivalent depreciation each year of the useful life of the asset.

Here, as provided straight line depreciation = \frac{Cost\ of\ asset\ - Salvage\ value}{Life\ of\ asset}

Here, cost of asset = $48,000

Salvage value = $8,000

Thus, numerator in fraction = $48,000 - $8,000 = $40,000

Useful life of the asset = 4 years

Therefore, depreciation expense for each year = \frac{40,000}{4\ years} = 10,000

It will be same for each year, therefore, depreciation expense for year 2 = $10,000

3 0
3 years ago
King Company issued bonds with a face amount of $1,600,000 in 2015. As of January 1, 2020, the balance in Discount on Bonds Paya
zimovet [89]

Answer:

January 1, 2020

Bonds Payable                                          1600000 Dr

Loss on Redemption of bonds                 36800 Cr

     Discount on Bonds Payable                        4800 Cr

     Cash                                                              1632000 Cr

Explanation:

The redemption of bonds before the maturity usually requires a payment for redemption which is a certain percentage of its face value. It is usually higher than the face value. The above bonds are redeemed at 102 which means at 102% of the face value of the bonds. Thus, the cash paid to redeem the bonds is,

Cash = 1600000 * 102%  =  1632000

The bonds have a carrying value, which is the face value less discount or add premium, of,

Carrying value = 1600000 - 4800  =  $1595200

If they are redeemed for an amount in excess of the carrying value, they are redeemed at a loss.

The loss on redemption is,

Loss = 1595200 - 1632000 = $36800

5 0
3 years ago
Fuente, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,075 2 1,210 3 1,340 4 1,4
umka21 [38]

Answer:

the future value of the cash flow in year 4 is $5,632.73

Explanation:

The computation of the future value of the cash flow in year 4 is as follows:

= $1,075 × (1.08^3) + $1,210 × (1.08^2) + $1,340 × (1.08^1) + $1,420 ×(1.08^0)

= $1,354.19 + $1,411.34 + $1,447.20 + $1,420  

= $5,632.73

Hence, the future value of the cash flow in year 4 is $5,632.73

The same is to be considered and relevant  

6 0
3 years ago
Which sentence from the contract shown below refers to consideration?
mamaluj [8]

first party is the one that I would do

4 0
3 years ago
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