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Dimas [21]
3 years ago
5

: Narda Corporation agreed to sell all of its capital stock to Effie Corporation for three monthly payments of $200,000. After E

ffie made the first required payment, it ceased making other payments. The stock subscription agreement states that Effie, thus, forfeits its payments and is entitled to no other future consideration. How should Narda record the $200,000 forfeited payment
Business
1 answer:
Gnoma [55]3 years ago
8 0

Answer:

Since Effie Corporation forfeited their stock subscription, then they will lose their stocks and the money they invested in Narda Corporation.

In this case, Narda was being completely acquired by Effie Corporation and the whole operation went down, then the initial payment must be recorded as additional paid in capital. It should not be included as part of operating income since it wasn't a normal business activity.

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Fitfabfun, trunk club, and naturebox represent a social media trend for the future. What change does this represent?
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7 0
1 year ago
Mike and Sandy are two woodworkers who both make tables and chairs. In one month, Mike can make 4 tables or 20 chairs, where San
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C 5 tables for mike and 1/3 table for sandy
3 0
3 years ago
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3 years ago
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Answer:

Option D. The accountant was a member of a professional organization.

Explanation:

The reason is that for a successful claim under the negligence act, the claimant have to prove following three things:

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