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leonid [27]
3 years ago
8

The total amount of cash and other assets received by a corporation from its stockholders in exchange for its stock is:________

Business
1 answer:
Ipatiy [6.2K]3 years ago
3 0

Answer:

c. Referred to as paid-in capital.

Explanation:

The total amount of cash and other assets received by a corporation from its stockholders in exchange for its stock is <u>referred to as paid-in capital</u>.

i.e. Total of assets should = Total liabilities.

Total of cash and other assets should = Paid in capital

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Smart Services performed $6,000 of services. Their customer paid $1,000 of the amount right away but charged the remaining amoun
Arisa [49]

Answer:

A. Debit Cash $1,000 and Debit Accounts Receivable $5,000 and Credit Fees Income $6,000

Explanation:

When revenue is earned and cash is paid, debit cash and credit revenue. However, when revenue is earned and cash is yet to be paid, debit accounts receivable and credit revenue.

Hence, given that Smart Services performed $6,000 of services. Their customer paid $1,000 of the amount right away but charged the remaining amount.

Entries required are

Debit Cash $1,000

Debit Accounts Receivable $5,000

Credit Fees Income $6,000

4 0
3 years ago
Which of the following is TRUE about owning a share of stock?
MAVERICK [17]

Answer:

The correct answer is letter "B": Owning a share means you own a percentage of the company.

Explanation:

A share which is also called a stock is a <em>corporate or financial asset ownership unit</em>. Owning some shares in the business entitles the holder to a proportionate amount of the company's profits. Profits are called dividends when they are paid to shareholders.

6 0
3 years ago
Donovan Company incurred the following costs while producing 500 units: direct materials $10 per unit, direct labour $25 per uni
Dafna1 [17]

Answer:

Option (D) is correct.

Explanation:

Unit product cost:

= Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead

= $10 + $25 + $15 + $20

= $70

Operating income using absorption costing:

= (500 units × $100) - (500 units × $70) - (500 units × $5) - $7,500

= $50,000 - $35,000 - $2,500 - $7,500

= $5,000

8 0
3 years ago
____ describes the average level of ability, experience, personality, or any other factor on a team. team performance team confo
SVETLANKA909090 [29]
C. team level. should be correct
5 0
3 years ago
Read 2 more answers
Economic models
Fiesta28 [93]

Answer:

D.

Explanation:

A economic model can be used to explain or predict economic phenomena, because every model has to have key variables that command the economic decisions and operations.

An economic model is define to get a specific goal, so when some problem comes, you can study every decision based on the model applied, that 'simplifies' solutions, or even better, you must be able to predict when economic problems will arrive.

7 0
3 years ago
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