Answer:
KACY SPADE COMPANY TRIAL BALANCE AS AT 31st MAY 2016
DEBIT SIDE
Dr cash $94,850
Dr Account receivable 1575
Dr office supplies1,250
Dr Office equipment 10,050
Account payable 0
DrDividends10,000
DrRent expense1,225
Total$118,950
CREDIT SIDE
Cr Commonstock100,750
Cr Fees earned18,200
Totals$118,950
EXPLANATION
1.Cash
Dr a.100,750
Dr d.15,500
Dr h.1,125
Cr b.1,250
Cr e.10,050
Cr g.1,225
Cr i.10,000
The difference between both Debit and credit side =Balance 94,850
2.Accounts Receivable
Dr f.2,700 Cr b.1,125
The difference between both Debit and credit side Balance 1,575
3.Office Supplies
Dr a.1,250
Balance1,250
4. Office Equipment
Dr c.10,050
Balance 10,050
5.Accounts Payable
Dr e.10,050 Cr c.10,050
Balance 0
6.Common Stock
Cr a.100,750
Balance 100,750
7.Dividends
Dr i.10,000
Balance 10,000
8.Fees Earned
Cr d.15,500
Cr f.2,700
Balance 18,200
9. Rent Expense
Dr g.1,225
Balance 1,225
Kingbird Corp
A.
Dr Account Receiveable $722,500
Cr Sales Revenue $722,500
B.
Dr cash $708,940
Cr Account receivable $708,940
C.
Dr Bad debt expense $14,220
($22,740-$8,520)
Cr Allowance for Doubtful Account $14,220
Answer: Enter
Explanation:
If one wants to move to the next field but still in the same form on Access, one simply needs to tap the Enter button and it will move on. This is the same thing that happens in Excel when Enter is tapped.
It is probably because the forms created in Access do not allow for paragraphs so the enter key will only move you to another field instead of creating a new paragraph.
Answer:
B. A Statutory merger requires dissolution of the acquired company while a statutory consolidation does not require dissolution.
Explanation:
A statutory merger refers to collaboration between two entities wherein one entity i.e the acquiring firm gets entitled to continue it's legal existence while the weak company or the acquired company's identity is lost.
In case of statutory consolidation, it is a kind of merger wherein, the merged entities lose their identity and an altogether new entity is formed to take over the assets and liabilities.
In case of statutory merger, the acquiring company takes over the business and assets and liabilities of the acquired company whereas under consolidation, the assets and liabilities of both the entities are pooled together and taken over by a new entity which is created.
Federal and state governments may oppose and disallow any of the two mergers if they believe, such mergers would lead to anti competitive practices and creation of monopolies.
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