Answer:
The total stockholders' equity at the end of 2021 is $250,000
Explanation:
In order to calculate the total stockholders' equity at the end of 2021 we would have to calculate the transactions relating to stockholders’ equity times the $5 par value common stock as follows:
stockholders' equity at the end of 2021=Issue of 30,000 shares*$5+Issue of 20,000 shares*$5
stockholders' equity at the end of 2021=$150,000+$100,000
stockholders' equity at the end of 2021=$250,000
The total stockholders' equity at the end of 2021 is $250,000
Answer and Explanation:
Given that
The Sale is made for $900
Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days
Now the journal entry to record the receipts of a payment within discount period is
Cash Dr $882
Sales discount $18
To Account receivable $900
(Being the cash received)
Macduff's boss told him he needs to be more concise in his report writing. to do this, MacDuff should delete the <u>verbiage </u>form the report.
<h3>What is verbiage?</h3>
Verbiage simply means words that don't reduce the meaning of the information when they are deleted.
In order words they are needless and hence need to be removed.
Macduff can do this manually or he can do so with the aid of online tools that are programmed to recognize unnecessary words and options for revision.
The importance of being concise is that it makes the report easier to read, thus improving effectiveness of communication.
Learn more about report writing at;
brainly.com/question/192736
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Basically, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.
In the contract on sales, a sale formally becomes a sale when a party gives something to another in exchange for money.
- The consideration (Premium/Sales cost) is the main factor that makes a sales contract valid and legal.
Hence, the rule of sales contract recognizes that sales is done when the product is negotiated on and <u>paid for</u>, and thus, the the buyer can cancel prior to that.
Read more about sales contract:
<em>brainly.com/question/17179342</em>
