Shorecrest Company recently accepted a donation of land with a fair value of $250,000 from the city of Sutton in return for a promise to build a plant in Sutton. The entry that Shorecrest should use to record this land is:
a. Land.............................. 250,000
Donated Capital-Land 250,000
b. Land.............................. 250,000
Gain from Receipt of Donated Land 250,000
c. Land.............................. 250,000
Unrealized Gain from Receipt of
Donated Land.................. 250,000
d. Land.............................. 250,000
Retained Earnings................ 250,000
A
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A computer manufacturer recently shipped several laptops to a customer (cost: $25,000) and billed the customer $30,000. Which of the following options correctly expresses the accounts that are debited and credited to record this transaction?
A. Debits: Accounts Receivable, Cost of Goods Sold; credits: Sales Revenue, Finished-Goods Inventory. B. Debits: Sales Revenue, Cost of Goods Sold; credits: Accounts Receivable, Finished-Goods Inventory. C. Debits: Accounts Receivable, Finished-Goods Inventory; credits: Sales Revenue, Cost of Goods Sold. D. Debits: Sales Revenue, Finished-Goods Inventory; credits: Accounts Receivable, Cost of Goods Sold. E. Debits: Accounts Receivable; credits: Finished-Goods Inventory, Profit on Sale.
Each of the following is one of the 4 Ps EXCEPT ________
A) price B) product C) promotion D) place E) planning
All of the following approaches are appropriate for checking escalation of commitment to poorly performing new product development projects except:
a. give a bonus to the manager in charge of the new product development b. include naysayers or skeptics on the product review committee c. decouple the withdrawal decision from previous investments d. use a stopping rule based on objective data e. have a new manager with no prior beliefs make the continue/stop decision
What are the factors that define an internal pay structure?
What will be an ideal response?