Answer:
c. Common Stock $50,000 and Paid-in Capital in Excess of Par Value $20,000.
Explanation:
The journal entry for issuance of the common stock for cash is shown below:
Cash A/c Dr $70,000
To Common stock $50,000 (5,000 shares × $10)
To Additional paid in capital A/c - Common stock A/c $20,000
(Being the common stock is issued for cash)
While recording this entry it increased the assets so the cash account is debited while at the same time it also increased the common stock for $50,000 and the additional paid in capital in excess of par value i.e $20,000 so both these account are credited
<span>Unlike the early stock exchanges, National Association of Securities Dealers Automated Quotation System (NASDAQ) has never m</span><span>aintained a physical trading location where dealers meet to trade securities.</span>
Answer:
c. It reverts back to C
Explanation:
Grantor C conveys a large house and land to his daughter and son-in-law to be theirs as long as they are married. One year later they are divorced, The property is reverted back to C that is the Grantor. The property is neither given to the daughter nor to the son-in-law. This according to the American court law.
Finance is the functional area of business that is responsible for finding the best sources of funds and the best ways to use them. So the correct option is (d).
What is a Functional area?
Functional area describes a way of segmenting an organization into distinct parts, each of which will act as a fully functional unit carrying out the specified functions. This means that a segmented unit like this accomplishes a specific organizational goal that can be distinguished from the role of other segments. The human resource department, a division within the organization that is divided from other functional areas by the particular obligations that are distinctive to just the human resource department, is an example of such a division within an organization.
Therefore correct answer is (d).
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