Answer:
The total amount of paid-in capital in excess of par is: $5,000.
Explanation:
When Common Stocks are classified as par value Stocks, any price paid in excess of the par value of the Stock is accounted for in the Share Premium account.
<u>Here is the Summary of the Transaction provided.</u>
Common Stocks : 260 shares × $100 = $26,000
Paid-in capital in excess of par : $31,000 - $26,000 = $5,000
Answer:
Command
Explanation:
In the command economic model, the government determines the level of economic productions in the country. It decides what will be produced, its quantity, and the cost price. A central authority or the government owns all the factors of production.
The command economy is also the planned economy. The government plans and produces all goods and services. The private sector is not present in the command economy.
Answer:
Net income in cash = -$17,000
Net income of accounting= $ 198,000
Explanation:
$123,000 service provided for cash
-$140,000 Expenses paid in Cash
= -$17,000 Net income in cash
$240,000 Services provided on account
-$42,000 Expenses on account
=$198.000 Net Income of accounting
Answer: General partners
Explanation:
General partners refers to the group of two persons operating a business. These partners have the decision making authority in the business and are personally liable for any debt and liabilities of the business.
In the given case, Jenna and Al both are willing to operate a business together. There is nothing mentioned about the limited liability and also the structure is not company so they could not be majority shareholders.
They are working for themselves and not for others so they are not consultants either.
Hence the correct option is B.
