Answer:
Requirement of the question is to prepare journal entries for each of transaction. where it is given that 40,000 common shares were outstanding at Beginning of the year.
Explanation:
<span>A corporation whose stock can be purchased by anyone and is traded in stock markets is known as an open corporation.
This means that these shares are not monopolized by a small group of investors, but rather can be bought by anyone who has such a desire to own them. The term which is opposite from an open corporation is a closed corporation.
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I would tell that visuals would attract audience's attention and make the information presented in the report became easier to digest.
Visuals can be made by adding various shapes and colors that separated a certain information from the rests of the texts in the report.
This will automatically catch the audience's attention to the relevant data that we want to show off. On top of that, presenting the data in the form of visuals make the audiences used both of their left and right brain hemisphere to digest the data and make them more likely to understand it.
Answer:
When prepaid insurance (or any other prepaid expense) is adjusted at year end in order to record accrued expenses, financial statements are affected in the following way:
- income statement: costs increase, decreasing profits
- balance sheet: assets and equity decrease
- cash flow statement: cash from operating activities increases
- owners' equity: decreases
The answer is Cash Price Minus Down Payment
For Example if you want to Borrow $ 10,000 for Loan, and for that you have to pay for a $500 Down Payment.
The amount financed is 10,000 - 500 = $ 9,500