Answer and Explanation:
The journal entries are shown below"
On Aug 26
Cash Dr $768,000
To Common stock $640,000
To Additional paid in capital $128,000
(Being issuance of the common stock is recorded)
On Oct 1
Cash Dr $410,000
To preferred stock $410,000
(Being the issuance of the preferred stock is recorded)
On Nov 30
Cash Dr $187,000
To Common stock $170,000
To Additional paid in capital $17,000
(Being issuance of the common stock is recorded)
The correct option is Building materials.
Building materials:
- 1: a building constructed for long-term usage that is typically walled and roofed (as for a dwelling) 2: the process of putting together materials to form a structure. Synonyms Example Sentences Phrases containing structure Learn More About Construction.
- Any kind of man-made construction is a structure. It might be a dam or a bridge, for instance. In contrast, a building is a closed construction with walls and a roof.
- The following structures are included in the definition of a building: Walls, floors, roofs, chimneys, plumbing and drainage systems, fixed constructions, etc. are examples of structural components. Verandas or atriums, balconies, cornices, building projections that extend past the structure's outside walls, etc.
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On savings accounts, banks make money by paying depositors virtually no interest. Most major banks pay an interest rate of only 0.01% on their savings accounts. And then they use the money customers deposit to make loans at much higher rates. So, we are basically giving interest-free loans to banks. and by the end of the year they will have over a million dollars.
For me, the incorrect passage would be "Investments and lending have risen". In an economic downturn, investors are reluctant to put money on a market that is experiencing losses.
Economists warn of an economic downturn. Prices have skyrocketed. Unemployment is up as businesses move up to reduce <span>costs. The Fed considers lowering discount rates and reserve requirements to increase monetary circulation.</span>
