Answer:
June 1 Sheldon Cooper invests $4,000 cash in exchange for shares of common stock in a small welding business.
Account Debited: Cash
Account Credited: Common Stock capital
2 Purchases equipment on account for $1,200.
Account Debited: Equipment
Account Credited: Accounts Payable
3 Pays $800 cash to landlord for June rent.
Account Debited: Rent expense
Account Credited: Cash account
12 Bills P. Leonard $300 after completing welding work done on account.
Account Debited: Accounts receivable
Account Credited: Service revenue
Answer:
A. Telephone expense is debited $82; accounts payable is credited $82.
Explanation:
Mr. Peabody has incurred a debt of $82 on telephone expenses. His expenses have increased by $82, and his debts(liabilities) have also increased by $82.
An increase in expenses is recorded by debiting the relevant expense account. Mr. Peabody will debit the telephone expense account by $82.
Liabilities have increased by $82. An increase in liabilities is recorded by crediting the liabilities account. Mr. Peabody will complete this transaction by crediting the liabilities account by $82.
Bistro's first banner was a form of a unilateral contract. This means that the banner was a legally enforceable promise between two parties where one party will perform the requirement and the other (Bistro) would pay.
For the given situation, Daisy substantially performed the required task and therefore, Bistro is not allowed to revoke the offer.
Based on the above, the statement that <span>best describes Daisy's and Bistro's rights in this situation is:
</span><span>Bistro cannot revoke the offer because Daisy has substantially performed the requested action.</span>
Answer:
C. transactional
Explanation:
In business, maintaining status quo means maintaining the pre-existing structure and culture that exist in the company. Transactional leaders tend to be less innovative , but very strict in enforcing pre-existing rules / conducts.
In order to maintain this status quo, transactional leaders tend to use rewards and punishment.
If an employee is following the company's requirement, that employee will be given rewards (such as bonuses or promotion). If the employee violate the company's rule, that employee will be punished (such as salary cut or firing)
The statement above is TRUE. This is because luxury cars are superior goods.
Superior goods refers to those goods whose consumption increases as their prices increases, that is, the higher the price, the higher the quantity demanded. This type of goods are usually scarce and and they have high prices. A good example of superior good is luxury car.
