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klio [65]
3 years ago
15

Sam, a citizen of Tennessee, files a suit in a Tennessee state court against United Sales Corporation, a Wyoming company that do

es business in Tennessee. The court has original jurisdiction, which means that
a. the case is being heard for the first time.
b. the court does not have concurrent jurisdiction.
c. the court has standing.
d. the court has venue.
Business
2 answers:
trasher [3.6K]3 years ago
8 0

Answer: .The correct answer is a). the case is being heard for the first time.

Explanation: A court has original jurisdiction over a case when a case is being heard for the first time.

This cases are heard directly without any intermediary or appellate review.

lyudmila [28]3 years ago
7 0

Answer: A. The case is being heard for the first time.

Explanation: when a court has original jurisdiction, according to common law systems, the e said court has the power to hear the case for the first time. It refers to the court which first hears the case. Having the authority to try a case, it is the court's authority to hear the claim/case in the first instance, rather than on appeal. This in contrast to appellate jurisdiction wherein a higher court hears and reviews the decision of a lower court.

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The Shoe Exchange issues 3,000 shares of its $1 par value common stock to provide funds for further expansion. The issue price i
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Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares

Explanation:

Par value per share = $1

Issue price per share = $19

Premium per share from issue = $19 - $1

                                                   = $18

Number of issued shares = 3000

Share capital balance from issue = 3000 × $1

                                                          = $3000

Premium balance = 3000 × $18

                             = $54,000

Cash received from Issue = 3000 × $19

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Entries to be posted

Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares.

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