If Z best, inc. issued $1,000,000 of common stock for cash. by accident, z best recorded the transaction by increasing cash and decreasing stockholders' equity. as a result of this entry,
- Common stock is understated
- Stockholders' equity is understated
- The accounting equation is out of balance
<h3>
Common stock for cash</h3>
Since the company issued the amount of $`1,000,000 of common stock for cash.
The journal entry will be
Debit Cash $1,000,000
Credit Common stock $1,000,000
Hence, if the company recorded the transaction by increasing cash and decreasing stockholders' equity this means that Common stock is understated, Stockholders' equity is understated and the accounting equation is out of balance.
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Answer:
Production= 9,100 units
Explanation:
Giving the following information:
Sales= 9,000 units
Beginning inventory= 200 units
Desired ending inventory= 300 units
<u>To calculate the budgeted production for the period, we need to use the following formula:</u>
Production= sales + desired ending inventory - beginning inventory
Production= 9,000 + 300 - 200
Production= 9,100 units
True some people choose work for the money and others choose work that they love doing
Answer:
January 24
Explanation:
As its indicated by the trade credit which specify the the net amount is expected to be paid in full by the buyer within net/60 (i.e 60 days).
This is the phrase on an invoice or in a contract that refers to how long a customer has to pay for goods or services after the bill is received, of which there is a discount of 4% (4/10) offered by the supplier if the buyer pays within the 60 days.
Answer:
Devil's Advocacy
Explanation:
Devil's advocacy states that when an organization permits to an individual for criticizing the happenings in the firm at the time when the decision is relevant. The other person would be limited to access so this would increase the productivity and limits the group thinking
So here according to the given situation, Jim's allowance of Clara to display the proposal for criticism is called as the Devil's advocacy.