Answer:
Equity account
Explanation:
In the case when the cash is received in exchange of the common stock so here the cash is debited and credited the common stock i.e. equity account
The journal entry is
Cash Dr XXXXX
To Common stock XXXXX
(Being exchange is recorded)
here cash is debited as it increased the assets and credited the common stock as it also increased the equity
Answer:
$1,450
Explanation:
Rhett made his annual gambling trip to Uwin Casino. On this trip Rhett won $250 at the slots and $1,200 at poker.
Also this year, Rhett made several trips to the racetrack, but he lost $700 on his various wagers.
The amount must Rhett include in his gross income includes that on this trip Rhett won $250 at the slots and $1,200 at poker which is $1,450
The internal Revenue Service requires that <u>''You must report all gambling winnings as "Other Income".</u> When you have gambling winnings, you may be required to pay an estimated tax on that additional income.
Answer:
Psychological pricing
Explanation:
Psychological pricing also known as price ending, charm pricing is a pricing and marketing strategy based on the theory that prices produces a psychological impact. This involves setting prices as odd prices being a little less than a whole number such as $9.99 or £2.99. It is believed that consumers think that this prices are lower than they actually are.
Private Placement and Investment Banking Process, are the two ways that a company can issue new securities and thereby raise capital in the primary market
<h3>What is Primary Market?</h3>
The primary market is the area of the capital market where securities are issued and sold to buyers directly by the issuer, who then receives the proceeds.
Companies, governments, or public sector organizations can raise money in a primary market by issuing bonds, and corporations can do the same by selling new stock in an IPO (IPO). A financing syndicate of securities dealers, investment bank, or underwriter is frequently used for this.
Securities are issued by firms to investors directly in the primary market. Either a further public offering (FPO) or an IPO is used to issue securities (FPO). Through an initial public offering (IPO), a business can raise capital from investors and go public.
A business can raise money on the primary market by selling preference shares. Securities, equity, and debt
To know more about Primary markets, visit:
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While taking out net cash flow (operating activity ) we will use -
= Net income + depreciation expenses or amortization expenses + working capital changes + loss on sale of assets - gain on sale of assets
In working capital changes - increase in current assets would be subtracted.
increase in current liability would be added
decrease in current asset would be added
decrease in current liability would be subtracted
As per question -
= $29,000 + $3000 + $2000 + $4000 + $8000
= $ 46,000
