Answer: C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.
Explanation:
From the question, we are informed that Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting.
The journal entries will RR Consulting make to record this transaction will be:
Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.
Answer:
a. False
Explanation:
Corporate level strategies are undertaken by the top management formulating strategic business policies with a purpose of achievement of long term goals and objectives.
Such policies affect the organization as a whole. The purpose of corporate level strategies is to maximize profits over a period and ensure success.
Diversification strategy is aimed at adding operations to pre existing line of operations into different category of products and markets and explore new business ventures.
Hence, corporate level strategies are not limited to diversification strategy as the concept of corporate level strategy is much broader.
Answer:
Cash in-flow in the last year.
Explanation:
Salvage value, also known as residual value, is the amount that you receive from sale of Property, Plant, and Equipment at the end of useful life. When computing the NPV of any project, we consider all the relevant cash flows of that project. Since, $45,000 will be received when project ends from sale of Fixed asset, so this figure will be treated as Cash in-flow and discounted.
Answer:
Even if individual doesn't even have an executive role, a person responsible of information technology for a corporation might wield tremendous authority. This is due to the fact that power is not necessarily linked to a position of authority.
Explanation:
A person with leadership qualities can advance to positions of power, allowing them to put their abilities and personality attributes to good use. A person in charge of information technology is also responsible for optimising the company's digital technologies owing to the nature of the role and responsibilities.
Answer: $51,920
Explanation:
For a building that was constructed before 1936, the rehabilitation credit is 20% of the amount that the taxpayer spent to rehabilitate the historic building. As this building was constructed in 1935, Emily qualifies for that 20% credit:
= 20% * 259,600
= $51,920
