When a corporation sells its capital stock, certificates are issued to the stockholders and the stock is said to be issued and outstanding
a. True
b. False
Indicate whether the statement is true or false
True
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The general ledger shows a balance of $66,600 in the Merchandise Inventory account at the end of the period. The physical inventory count shows inventory of $63,400. (Assume a perpetual inventory system.) The adjusting entry includes a ________.
A) debit to Cost of Goods Sold and a credit to Merchandise Inventory for $3,200 B) debit to Cost of Goods Sold and a credit to Cash for $3,200 C) debit to Merchandise Inventory and a credit to Cost of Goods Sold for $3,200 D) debit to Merchandise Inventory and a credit to Cash for $3,200
When a stock dividend is distributed, the account to be debited would be
a. Retained Earnings. b. Stock Dividends Distributable. c. Paid-In Capital in Excess of Par. d. Capital Stock.
What are services?
A. The rate at which goods and services are produced based upon total output given total inputs. B. The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services. C. Material items or products that customer's will buy to satisfy a want or need. D. Tasks performed by people that customer's will buy to satisfy a want or need.
The founders of Richardson Corporate pride themselves on their commitment to a stewardship of the environment, displaying a photo montage in the lobby that displays before-and-after pictures of the site where the headquarters complex is built-from an ugly landfill into a parkland. As a reflection of the company's culture, the photo montage represents a
A. scenario. B. legend. C. myth. D. mission statement. E. visible artifact.