This topic contains a solution. Click here to go to the answer

Author Question: Vest, Inc received cash from selling 100 shares of its 1 par value common stock at 10 per share. ... (Read 802 times)

gbarreiro

  • Hero Member
  • *****
  • Posts: 566
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.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ju

  • Sr. Member
  • ****
  • Posts: 325
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





 

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

About 100 new prescription or over-the-counter drugs come into the U.S. market every year.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

For a complete list of videos, visit our video library