This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Subsidiary ledgers a. are used only for Accounts Payable and Accounts Receivable b. may be used ... (Read 77 times)

AEWBW

  • Hero Member
  • *****
  • Posts: 579
on: Jul 5, 2018
Subsidiary ledgers
 a. are used only for Accounts Payable and Accounts Receivable
  b. may be used for various general ledger accounts
  c. may be used only for the Cash account
  d. are never used for more than four accounts

Question 2

Matt Shaw buys 100 shares of common stock for 8,000 in January. The value of the stock fluctuates in a narrow range (averaging 8,700) throughout the year. In November, when it has a value of 9,500, he donates it to a not-for-profit entity.
 
  On December 31, the stock has a fair value of 8,200 . At what amount should the entity value the stock on its December 31 statement of financial position?
   a. 8,000
   b. 8,200
   c. 8,700
   d. 9,500


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Danny Ewald

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

b


AEWBW

  • Member
  • Posts: 579
Reply 2 on: Jul 5, 2018
Gracias!

Animal_Goddess

  • Member
  • Posts: 339
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Meiosis Accounts for the Segregation of Alleles p2 Meiosis Accounts for the Segregation of Alleles p2
Meiosis Accounts for Independent Assortment of Alleles Meiosis Accounts for Independent Assortment of Alleles
Meiosis Accounts for Independent Assortment of Alleles p2 Meiosis Accounts for Independent Assortment of Alleles p2
Accounts receivable cycle. Accounts receivable cycle.
Example of calculation of days in accounts receivable (AR). Example of calculation of days in accounts receivable (AR).
Electricity production accounts for 25% of greenhouse gas emissions Electricity production accounts for 25% of greenhouse gas emissions
Video: EpiPen Animation (Part 2)

For a complete list of videos, visit our video library