During Year 1, Morsch Company issued common stock to stockholders for $10,000; purchased land for $2,000 cash; provided services to customers for $8,000; paid cash operating expenses of $6,200; and paid cash dividends of $1,000 to the company's owners. Enter each of these events into the horizontal financial statements model, below. Indicate dollar amounts of increases and decreases. For cash flows, show whether they are operating activities (OA), investing activities (IA), or financing activities (FA). Precede the amount with a minus sign if the transaction reduces that section of the equation or cash flow.Enter 0 if there would be no entry in a column.

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What will be an ideal response?

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Business

An auxiliary record of notes receivable that provides more detailed information of a single note than a ledger account is known as a notes receivable register

Indicate whether the statement is true or false

An important feature associated with the traditional approach to data management is the ability to produce ad hoc reports

Indicate whether the statement is true or false

MacMann Company purchased a mine on January 1, 2018, for $500,000. The mine is estimated to contain 30,000 tons of iron ore. There is no residual value. The business has extracted and sold 2,500 tons of ore in 2018. Prepare the journal entry to record depletion expense for 2018. (Round your intermediate calculations to the nearest cent.) Omit explanation.

What will be an ideal response?

Answer the following statements true (T) or false (F)

1. When the independent, high-end U.S. Grant hotel in downtown San Diego joined Starwood’s Luxury Collection of hotels to gain “worldwide exposure,” it was an example of a distributor relationship. 2. External stakeholders include labor unions. 3. The percentage of the labor force represented by unions has steadily increased since the 1950s. 4. For established companies, financial institutions are not external stakeholders.