Answer:
Aug. 1 Cash 37,800
Common Stock 37,800 (Investment of cash for stock)
Dr.Cash 37,800
Cr. Common stock 37,800
10 Cash 17,010
Service Revenue 17,010 (Received cash for services performed)
Dr. Cash 17010
Cr. Service Revenue 17010
12 Equipment 31,500
Cash 5,040
Notes Payable 26,460 (Purchased office equipment for cash and notes payable)
Dr. Office Equipment 31500
Cr. Cash 5040
Cr. Account Payable 26460
25 Account Receivable 10,080
Service Revenue 10,080 (Billed clients for services performed)
Dr. Account Receivable 10080
Cr. Sales 10080
31 Cash 5,544
Accounts Receivable 5,544 (Receipt of cash on account)
Dr. Cash 5544
Cr. Account Receivable 5544
T account are prepared in the attached MS Excel File, Please find that.
<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>
I agree because since Adults have seen more of the world more than kids, they are less likely to imagine things
Answer:
fad product.
Explanation:
Fad -
It is the product , which has very less or limited utility , but is responsible for a very immediate increase in the sale and publicity , but it is immediately followed by reduction in the price and publicity , is known as a fad product .
Hence , as given in the question , the sale of the small toy cars increases rapidly and gained extreme popularity but within few months , the demand of the car drop down .
Answer:
Company Pea
Consolidated financial statements should be prepared to report the financial status and results of operations for:
Company Pea, Company Essone, and Company Esstwo
Explanation:
a) Data and Calculations:
Shareholding in each company:
Company Essone = 90%
Company Esstwo = 72% (0.90 * 0.80)
Company Essthree = 54% (0.72 * 0.75)
b) Based on percentage holdings in Essthree of 54%, Essthree should be consolidated. However, since it is stated that Company Pea lacks control of Essthree and Essthree is consolidated with Esstwo, which has 72% voting rights over Essthree, there is no need to consolidate Essthree with Company Pea.