The general journal is often used to record repetitive transactions
a. True
b. False
Indicate whether the statement is true or false
False
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Mary Sunny, the sole stockholder, began business as Sunny Law Firm on November 1. Record the following November transactions by making entries directly to the T-accounts provided. Next, prepare a trial balance as of November 30. a) Mary invested $15,000 cash and a law library valued at $6,000 in exchange for common stock.b) Purchased $7,500 of office equipment from John Bronx on credit.c) Completed legal work for a client and received $1,500 cash in full payment.d) Paid John Bronx $3,500 cash in partial payment of the amount owed.e) Completed $4,000 of legal work for a client on credit.f) Paid $2,000 in cash dividends.g) Received $2,500 cash as partial payment for the legal work completed for the client in (e).h) Paid $2,500 cash for the secretary's salary. src="https://sciemce.com/media/4/ppg__550826190855__f1q461g1.jpg" alt="" style="vertical-align: 0.0px;" height="321" width="593" />
What will be an ideal response?
The capital provided by common shareholders during the period used for calculating the return on common equity equals
a. the average par value of common stock, capital contributed in excess of par value on common stock, retained earnings, and any other common shareholders' equity accounts for the period. b. average preferred shareholders' equity less average total shareholders' equity. c. the ending par value of common stock, capital contributed in excess of par value on common stock, retained earnings, and any other common shareholders' equity accounts for the period. d. ending preferred shareholders' equity less ending total shareholders' equity. e. choices a and b
_____________ is the amount of adjustment that must be made in the exchange rates for two currencies for them to have equivalent purchasing power.
What will be an ideal response?
Distribution is at its most intense during the growth stage of the product life cycle
Indicate whether the statement is true or false