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Author Question: In exchange for stock, corporations may receive ________. A) earnings B) cash or other assets ... (Read 55 times)

jparksx

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on: Jul 5, 2018
In exchange for stock, corporations may receive ________.
 
  A) earnings
  B) cash or other assets
  C) income
  D) treasury stock

Question 2

To journalize the payment of Medicare taxes to the IRS, the correct entry would be
 a. debit Medicare Tax Payable and credit IRS.
   b. debit Medicare Tax Payable and credit Social Security Payable.
   c. debit Medicare Tax Payable and credit Cash.
   d. debit Medicare Tax Payable and credit Payroll Taxes Expense.


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emsimon14

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Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

c


jparksx

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Reply #2 on: Jul 5, 2018
Correct answers!


emsimon14

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Reply #3 on: Jul 5, 2018
Great! Please up vote :D


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