the statement that is true is c
<span>She owns common stock. This allows a person to acquire dividends that change in their amount and might be missed depending on the fortunes of the company. Holding this stock allows a person to elect the board of directors and vote on corporate policy.</span>
Answer:
Option "D" is the correct answer to the following question.
Explanation:
A corporation's physical resources describe as all the measurable and material resources a company holds and uses, including land, production equipment, and electrical equipment and all tangible goods, buildings, furniture, land all include in physical resources.
In the following case, the new distribution facility is a physical resource for Amazon.
Answer:
Debit Income Summary $84,800, Credit High Step Shoes, Capital $84,800
Explanation:
Preparation of what The entry to close the Income Summary account at the end of the year, after revenue and expense accounts have been closed, is:
Debit Income Summary $84,800
Credit High Step Shoes, Capital $84,800
($192,000-$107,200)
(To close the Income Summary account )
Answer:
Murphy Company
The year in which Murphy recognizes the income is year 2.
Explanation:
As a cash basis taxpayer, Murphy Company reports income and deductions in the year that they are actually paid or received. Similarly, as a cash basis taxpayer, Murphy Company deducts expenses in the year the expenses are paid off, which is not necessarily the year they were incurred. The income for services of $9,000 rendered to a customer, for which payment was received on January 3, year 2, will be recognized in year 2 and not in year 1 when the services were performed.
