In exchange for stock, corporations may receive ________. A) ...

[jparksx]

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.

[emsimon14]

Answer to Question 1

B

Answer to Question 2

c

[jparksx]

Correct answers!

[emsimon14]

Great! Please up vote