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Author Question: Vest, Inc received cash from selling 100 shares of its 1 par value common stock at 10 per share. ... (Read 707 times)

gbarreiro

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on: Jul 5, 2018
Vest, Inc received cash from selling 100 shares of its 1 par value common stock at 10 per share. Show the effect of issuing stock on the accounting equation, including both account titles and amounts.
 
  Shareholders' equity
  Assets Liabilities Contributed capital Retained earnings
 
  What will be an ideal response?

Question 2

Special discounts from list prices, granted by manufacturers to different classes of customers, are known as
 a. cash discounts.
   b. trade discounts.
   c. manufacturers' discount.
   d. customers' discounts.


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ju

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

Shareholders' equity
Assets Liabilities Contributed capital Retained earnings
1,000 cash 100 common stock
900 additional paid-in capital

Answer to Question 2

b


gbarreiro

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Reply #2 on: Jul 5, 2018
Thank you


ju

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Reply #3 on: Jul 5, 2018
No problemo


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