Business, 10.12.2019 06:31 camiloriveraveoxbgd6
Willow creek nursery, with an authorization of 72,000 shares of preferred stock and 210,000 shares of common stock, completed several transactions involving its stock on october 1, the first day of operations. the trial balance at the close of the day follows willow creek nursery
unadjusted trial balance
october 1, 20--
account title
debit
credit
1
cash
4,000,500.00
2
land
860,000.00
3
buildings
2,533,000.00
4
common stock
2,540,000.00
5
paid-in capital in excess of par-common stock
1,460,500.00
6
preferred stock
2,925,000.00
7
paid-in capital in excess of par-preferred stock
468,000.00
8
totals
7,393,500.00
7,393,500.00
common stock has a $20 par value and the preferred stock is 1%, 75 par value. all shares within each class of stock were sold at the same price. the preferred stock was issued in exchange for the land and buildings.
journalize the two entries to record the transactions summarized in the trial balance.
Answers: 2
Business, 22.06.2019 09:40
Catherine de bourgh has one child, anne, who is 18 years old at the end of the year. anne lived at home for seven months during the year before leaving home to attend state university for the rest of the year. during the year, anne earned $6,000 while working part time. catherine provided 80 percent of anne's support and anne provided the rest. which of the following statements regarding whether anne is catherine's qualifying child for the current year is correct? a.anne is a qualifying child of catherine.b.anne is not a qualifying child of catherine because she fails the gross income test.c.anne is not a qualifying child of catherine because she fails the residence test.d.anne is not a qualifying child of catherine because she fails the support test.
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Business, 22.06.2019 09:50
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Answers: 2
Business, 22.06.2019 11:50
The following are the current month's balances for abc financial services, inc. before preparing the trial balance. accounts payable $ 10,000 revenue 6,000 cash 3,000 expenses 17,500 furniture 10,000 accounts receivable 14,000 common stock ? notes payable 6,500 what amount should be shown for common stock on the trial balance? a. $48.000b. $12.500c. $27.000d. $28.000
Answers: 3
Business, 22.06.2019 16:00
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Willow creek nursery, with an authorization of 72,000 shares of preferred stock and 210,000 shares o...
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