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Nezavi [6.7K]
3 years ago
7

Lisa Co. paid cash for all of the voting common stock of Victoria Corp. Victoria will continue to exist as a separate corporatio

n. Entries for the consolidation of Lisa and Victoria would be recorded in Group of answer choices A worksheet. Lisa's general journal. Victoria's general journal. Victoria's secret consolidation journal. The general journals of both companies.
Business
1 answer:
lutik1710 [3]3 years ago
8 0

Answer: worksheet

Explanation:

The entries for the consolidation of Lisa and Victoria would be recorded in a worksheet.

Consolidation worksheet refers to the tool that is used in the preparation of the consolidated financial statements of both a parent company and the subsidiaries.

The consolidation worksheet is important as it shows the individual book values for the parents company and the subsidiaries.

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What type of conflict management style does Doug have?
stiv31 [10]

Answer:

competing

Explanation:

because his cooperativeness is low and his assertiveness is high.

8 0
3 years ago
If a company has advance ticket sales totaling $2,000,000 for the upcoming football season, the receipt of cash would be journal
Paraphin [41]

Answer:

(C) Debit Cash, credit Unearned Revenue.

Explanation:

The journal entry is shown below:

Cash A/c Dr $2,000,000

   To Unearned revenue A/c $2,000,000

(Being the receipt of cash is recorded)

Since the cash is received so we debited the cash account as it increases the current assets and credited the unearned revenue account as it is a current liability account so the same is to be credited

3 0
3 years ago
Prepare a December 31, 2020, balance sheet for Long Print Shop from the following: cash, $50,000; accounts payable, $38,000; mer
Bumek [7]

Answer:

                                   <u>Long Print Shop</u>

         <u>Balance sheet for the year ended December 31, 2020</u>

                                                         Amount in $                       Amount in $

<u>Assets</u>

<u>Non-current asset</u>

Equipment                                                                                     20,000

<u>Current assets</u>

Merchandise inventory                      14,000

Cash                                                     50,000

Total current asset                                                                        <u>64,000</u>

Total assets                                                                                  <u>84,000</u>

<u>Liabiities</u>

Accounts payable                                                                         <u>38,000</u>

Total liabilities                                                                             <u> 38,000</u>

<u>Equity</u>

Capital                                                                                            <u>46,000</u>

Total equity                                                                                   <u>46,000</u>

Total liabilities and equity                                                            <u>84,000</u>

Explanation:

The accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity. This may be expressed mathematically as

Assets = Liabilities + Equity

While assets include fixed assets, cash, inventories, account receivables etc, liabilities include accounts payable, loans payable, accrued expenses etc.

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

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Why does the kyoto protocol allow a less-developed nation such as china to be exempt from some limits on emissions of greenhouse
OLga [1]
Economic development depends on industrial growth, which may increase greenhouse gas emissions. Hope this was helpful (:
5 0
2 years ago
A journal entry that debits Raw Materials and credits Accounts Payable is recording the ______.
lbvjy [14]

When you see a journal entry that leads to a debit of Raw Materials and a credit of Accounts Payable, this is a<u> C. purchase of materials. </u>

<h3 /><h3>What happens when materials are purchased?
</h3>

As materials are an asset, the raw materials account will be debited to show that raw materials are increasing.

If the Accounts Payable is credited, it means that it is increasing as well because it is a liability. The transaction was therefore done by buying the materials on credit.

In conclusion, option C is correct.

Find out more on raw materials purchases at brainly.com/question/26446159.

5 0
2 years ago
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