Answer:
b. the par value of all capital stock issued.
Explanation:
As per the business format, capital of a company is the value of share capital.
Now, also legal capital means the share capital issued as this reflects the legal share of individual investors in the company.
Authorized capital is the value of maximum capital that can be issued by the company in the form of equity shares.
Issued capital is that part of authorized capital that is actually issued.
And therefore, the par value that is the face value of shares issued, that is equity issued is the legal capital of the company.
If Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.
<h3>What is the float amount?</h3>
The float amount is the amount that a customer's account reads in the bank at a particular point in time.
The float amount is usually briefly counted twice due to time gaps in registering a deposit and processing the paper checks.
Thus, if Ruskin receives a check and deposits it in its checking account, the float amount is $300,000.
Learn more about the float amount in the bank at brainly.com/question/24161262
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Answer:
Explanation:
Goods are tangible items that that can be bought at a price while services is defined as intangible benefits that is provided . However , they both provide value and satisfaction to the buying party
A shirt in the scenario is an example of a good as it was a tangible product that did not perish immediately.
The restaurant experience is a service as she chose to go there in order to sit and relax , in addition to buying the food stuff which could have been bought in a grocery store. The sitting and relaxing was an intangible product that expired (perish) as soon as she left the restaurant which qualifies it as a service
Answer:
The journal entries are as follows:
(i) On June 1,
Cash A/c Dr. $5,890
To Owner's capital $5,890
(To record the issue of common stock)
(ii) On June 2,
Equipment A/c Dr. $1,240
To Accounts payable $1,240
(To record the purchase of equipment on account)
(iii) On June 3,
Rent Expense A/c Dr. $670
To cash $670
(To record the payment of rent)
(iv) On June 12,
Account receivable A/c Dr. $880
To service revenue $880
(To record the service provided on account)
