When common stock is issued, the amount recorded in Additional paid-in capital is ________.
A) the cash received minus the amount recorded in the Common stock account
B) the cash received plus the amount received in excess of par
C) the par value plus the market price of the stock
D) nothing; Additional paid-in capital is not affected by issuing common stock
(
Q. 2) _____________________________
_ is when an e-mail is sent pretending to be a legitimate business asking for information about your account.
Fill in the blank(s) with correct word
(
Q. 3) Which financial statement shows Revenues?
A) income statement
B) statement of changes in shareholders' equity
C) statement of cash flows
D) balance sheet
(
Q. 4) Net sales is equal to gross sales less ____________________ and ____________________.
Fill in the blank(s) with correct word
(
Q. 5) Janna Bronson is trying to decide whether or not to prepare the statement of cash flows using the direct method. Explain to Janna the advantages and disadvantages of using this method.
What will be an ideal response?
(
Q. 6) Which of the following would be added to the balance per books on a bank reconciliation?
a. service charges
b. outstanding checks
c. deposits in transit
d. notes collected by the bank
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