A company issued 190 shares of $100 par value common stock for $22,600 cash. The total amount of paid-in capital in excess of par is:
A. $3600.
B. $19,000.
C. $100.
D. $1900.
E. $22,600.
Answer: A
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A revenue for which the service has been performed but that has not been recorded is a deferred revenue
Indicate whether the statement is true or false
Under the UCC, the seller's right to correct a shipment of non-conforming goods is called
a. correction. b. cure. c. cover. d. consideration.
Everything else equal, including firm size, dollar sales, type of product sold, and so forth, the primary difference between proprietorship and partnership business forms is that _____.?
A. ?a partnership has more owners than a proprietorship B. ?the combined personal liability associated with a partnership is significantly less than the combined personal liability associated with a proprietorship C. ?a partnership is generally easier to form than a proprietorship D. ?the annual growth rate of a proprietorship is limited by law, whereas the growth rate of a partnership is always potentially unlimited E. ?many more businesses are formed as partnerships than proprietorships
Record in general journal form the following selected transactions for Avalon General Hospital, a nongovernmental not-for-profit institution. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)1. Gross charges for patient services rendered during the period amounted to $7,870,000, of which $350,000 represented charity care for indigent patients. 2. During the year the provision for bad debts was set at $190,000 and contractual adjustments amounted to $435,000. 3. A wealthy donor donated $2,000,000 to construct a new cardiology wing on the hospital. 4. During the year, the new cardiology wing (see item 3) was one-half completed at a cost of $1,000,000.
What will be an ideal response?