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astra-53 [7]
3 years ago
10

A company sold 10,000 shares of its common stock at par value for a total of $45,000. What two accounts are affected by the tran

saction?
Business
1 answer:
noname [10]3 years ago
8 0

Answer:

Cash and contributed capital

Explanation:

The journal entry to record the sale of common stock is shown below:

Cash A/c Dr $45,000

   To Common stock A/c $45,000

(Being the common stock is sold)

For recording this transaction, we debited the cash account as the sale is made which increases the asset and credited the common stock account because the common stock is sold which reduces the equity balance.

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2 years ago
When companies adopt the strategy-making and strategy execution process it requires they start by
Law Incorporation [45]

Answer:

The answer is A. developing a strategic vision, mission and values.

Explanation:

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In formulating and executing strategy, the first step to take is to develop a strategic vision, mission and values for the organisation.

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3 years ago
Annalise received financial aid offers from two universities.
natima [27]

Answer:

Option A will save her $15,500.

Explanation:

Financial aid is the assistance given to students to cater to a college education. It excludes Scholarships and grants as these are not cost items by other forms of assistance.

<u>Total for University Option A</u> excluding scholarships and grants

Tuition & Fees $10,000

Room and Board $11,500

Work-Study  <u>$ 4,000 </u>

Total for A  <u>$25,500</u>

<u>For university option B</u>

Tuition & Fees  $28,000  

Room & Board $ 9,000

Work-study  <u>$ 4,000</u>

Total for B  <u>$41,000</u>

Option B is more costly than A by :$41,000 - $25,500=$15,500.

Therefore, Option A saves $15,500

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