Eileen transfers property worth $200,000 (basis of $190,000) to Goldfinch Corporation. In return, she receives 80% of the stock
1 answer:
You might be interested in
Answer:
A petty cash fund is created by debiting the petty cash account and credited to the cash account
The expenses made is debited to the respective expenses account and then credited to the cash account
Explanation:
petty cash = $470
Expenditures made by employees :
supplies = $139
Fuel for deliveries = $123
postage = $76
Miscellaneous = $40
NOTE : A petty cash fund is created by debiting the petty cash account and credited to the cash account
The expenses made is debited to the respective expenses account and then credited to the cash account
ATTACHED IS THE JOURNAL ENTRY
Answer:
Freezer 2 is the better option because it has higher present worth.
Explanation:
