The journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
Given that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio instead of the available-for-sale securities portfolio.
We are required to form the journal entry that are required by the facts presented in the case.
A journal is basically a detailed account which records all the financial transactions of a business to be used for the future reconciling of accounts.
The journal entry will be as under:
Securities account debited and bank account credited. If we know that which security is being purchased then we can name that securities also.
Hence the journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
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Answer:
Union power
Explanation:
The difference in wages is as a result of Union power because the North now belongs to a labor union that protects their interest. A labor union is an organization that plays the role of an intermediary between their members and their employers. The workers in the North through the union are able to negotiate for better wages. Through collective bargaining, the union gives workers In the North the power to request for better work pay than workers in the east, West and South facilities.
Existing business with a proven record. When you ask for investments, the lending institution will most definitely ask for your financial track record. They would want to know if you are a good paymaster because they will need the assurance that you can pay them back. Even if you have a really original idea and want to start a new business, there will still be some reservation if you have no track record because the lenders do not know if you are trustworthy or not. Unlike if you already have a proven record that you are a good paymaster, then you at least have proof that you can pay back.
1. Accounts receivable are found on the balance sheet.
2. Notes payable are found on the balance sheet.
3. Advertising expense is found on income statement
