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ycow [4]
3 years ago
12

J. Jackson invested $1,000 in his business in exchange for common stock. Show how to use T-accounts to record this transaction b

y selecting the correct answer below. Multiple choice question. Debit Investments; credit Cash. Debit Cash; credit Revenue. Credit Cash; debit Common stock Debit Cash; credit Common stock
Business
1 answer:
Mashutka [201]3 years ago
7 0

Based on the information given the transaction will be recorded T-accounts as: Debit Cash; credit Common stock.

T-accounts:

Since $1,000 was invested  in the business in exchange for common stock which means that we are going to debit cash with the amount of $1,000 and credit common stock with the amount of $1,000.

Hence, the T-account will show:

Debit Cash $1,000

Credit Common stock $1,000

Inconclusion the transaction will be recorded T-accounts as: Debit Cash; credit Common stock.

Learn more about T-account here:brainly.com/question/14279491

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The departmental patriarch spent his last years at the university developing and promoting a Student Portfolio Project that requ
valentinak56 [21]

Answer:

D, starvation

Explanation:

Starvation can be defined as the deprivation of a certain thing till it leads to death. More often than not, starvation has majorly been synonymous with suffering as a result of lack of food.

In the above question, as soon as the patriach died, the Student portfolio project started to starve. It lacked continuos push and effort like the patriach did.

Cheers.

3 0
4 years ago
During the first year of operations, a company sold $113,000 of goods to customers and received $96,500 in cash from customers.
Oksi-84 [34.3K]

Answer:

Net Income for the year is $41700

Explanation:

The accounting basis that is generally followed by the businesses is the accrual basis of accounting. The accrual principle states that incomes and expenses should be recorded and recognized in the period to which they relate to rather than in the period where cash is received or paid.

This means that we will record income and expenses related to this year in this year's profit calculation even when we have not received or paid cash for such incomes and expenses.

Thus, net income for this year will be calculated as,

Net Income = Total Sales Revenue - Total expenses

Net income = 113000 - 71300    

Net Income = $41700

6 0
3 years ago
Which of the following is NOT an assumption that economists make when developing a production possibilities frontier (PPF)?
marta [7]

Answer:

Option D

Explanation:

Because it is not one of the key assumption underlying ppf

4 0
3 years ago
In subsistence farming, people generally grow
8_murik_8 [283]
In subsistence farming, people generally grow :
D. only enough to feed their families
subsistence farming refer to a farming technique for self-sufficiency (not commercial)

hope this helps
5 0
3 years ago
Read 2 more answers
If you cause a car accident, which type of insurance will require you to pay the least out of pocket?
Alex
Low deductible plan because there will be low amount of money taken from you. I am pretty sure.
8 0
4 years ago
Read 2 more answers
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