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 75 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
Excellent

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Meiosis Accounts for the Segregation of Alleles p2 Meiosis Accounts for the Segregation of Alleles p2
Meiosis Accounts for Independent Assortment of Alleles p2 Meiosis Accounts for Independent Assortment of Alleles p2
Example of calculation of days in accounts receivable (AR). Example of calculation of days in accounts receivable (AR).
How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ... How Mendel’s theory accounts for the results of his experiment on the inheritance of seed color in ...
Electricity production accounts for 25% of greenhouse gas emissions Electricity production accounts for 25% of greenhouse gas emissions
A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ... A $50 000 bond bearing interest at 6.5% bond payable semi-annually matures in 10 years. If it ...
Video: Requirements for nervous signals

For a complete list of videos, visit our video library