When common stock is issued by a corporation for a cash price above par value, the excess of the cash proceeds over the par value should be reported in the financial statements as a component of
A) retained earnings on the balance sheet.
B) total liabilities on the balance sheet.
C) operating income on the income statement.
D) total contributed capital on the balance sheet.
D
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What two purposes are served by using the Post. Ref. columns of a journal and ledger?
Glen retains Holly, an attorney, on a contingent-fee basis to seek $100,000 in damages in a personal-injury suit against Interstate Shipping Corporation. Glen wins. He must pay
A. court fees and other expenses, but not Holly's fee. B. Holly's fee, court fees, and other expenses. C. Holly's fee only. D. neither Holly's fee nor court fees and other expenses.
One who rents real property to others is called a landlord
Indicate whether the statement is true or false
Real estate agents are generally paid a flat predetermined fee
Indicate whether the statement is true or false