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When common stock is issued in exchange for an asset that is not cash the transaction should be recorded at?
When common stock is issued in exchange for an asset that is not cash, the transaction should be recorded at the fair market value of the asset received or the fair value of the stock issued, whichever is more clearly evident. If the fair value of both the stock and the asset can be determined, the transaction is typically recorded using the fair value of the asset. This ensures that the financial statements reflect an accurate representation of the value exchanged in the transaction.
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When is an invoice issued?
An invoice is issued after delivering requested trade goods or after making requested services. An invoice is a document confirming the transaction.
What is the purpose of charge invoice?
serves as a billing to the customer. Issued prior to transaction and after Downpayment
What is the double entry for a stale cheque?
When a cheque becomes stale (typically after six months of being issued), it is no longer considered valid for payment. The double entry for recording a stale cheque involves reversing the initial transaction that recorded the cheque. This means debiting the cash or bank account and crediting the accounts payable or expense account that was originally debited when the cheque was issued. This adjustment ensures that the financial records accurately reflect the current status of the transaction.
What are transaction slips of bank?
Transaction slips are documents issued by banks that provide a record of a specific financial transaction, such as deposits, withdrawals, or transfers. They typically include details like the date, amount, account numbers, and the type of transaction. These slips serve as proof of the transaction for both the bank and the customer, and they are important for maintaining accurate financial records. Many banks now also provide digital transaction confirmations, but physical slips remain in use for certain transactions.
When is a deposit slip issued to a customer?
A deposit slip is issued to a customer when they make a deposit at a bank or financial institution. It serves as a record of the transaction, detailing the amount being deposited and the account to which it is credited. The slip typically includes spaces for the customer's information and can be used as a receipt for the deposit. Customers receive the deposit slip immediately upon completing the transaction.
A corporation issued 200000 of common stock in exchange for 200000 of fixed assets Where would this transaction be reported on the Statement of Cash Flows?
This transaction would not appear on the statement of cash flows because it is a non-cash transaction. The statement of cash flows only shows transactions that involve inflows and outflows of cash.
What is off us transaction?
Off us transaction is a transaction made in an ATM or a POS of a bank different from the bank that issued the card used to make the transaction
What is Off US?
Off us transaction is a transaction made in an ATM or a POS of a bank different from the bank that issued the card used to make the transaction
What does the word MONIES mean?
The most common medium of exchange; functions as legal tender.The official currency issued by a government or national bank.
When is an invoice issued?
An invoice is issued after delivering requested trade goods or after making requested services. An invoice is a document confirming the transaction.
What is the purpose of charge invoice?
serves as a billing to the customer. Issued prior to transaction and after Downpayment
What is meant by not on-us transaction in banking domain?
The non ON-US transaction is the transaction, which is made on the ATM or POS terminal of the bank other then the bank that issued the card. For an example, if I swiped my ICICI credit card in ICICI ATM, then the transaction is called ON-US transaction. If I swipe my ICICI card in the ATM other then ICICI ATM, then the transaction is called non ON-US transaction.
What is meant by not on us transaction in banking domain?
The non ON-US transaction is the transaction, which is made on the ATM or POS terminal of the bank other then the bank that issued the card. For an example, if I swiped my ICICI credit card in ICICI ATM, then the transaction is called ON-US transaction. If I swipe my ICICI card in the ATM other then ICICI ATM, then the transaction is called non ON-US transaction.
What is the double entry for a stale cheque?
When a cheque becomes stale (typically after six months of being issued), it is no longer considered valid for payment. The double entry for recording a stale cheque involves reversing the initial transaction that recorded the cheque. This means debiting the cash or bank account and crediting the accounts payable or expense account that was originally debited when the cheque was issued. This adjustment ensures that the financial records accurately reflect the current status of the transaction.
What is the journal entry for amc?
To provide an accurate journal entry for AMC, it would depend on the specific transaction being recorded (e.g., a purchase of shares, sale of shares, or recognition of revenue). For example, if AMC issued shares and received cash, the journal entry would be: Debit Cash (for the amount received) Credit Common Stock (for the par value of the shares) Credit Additional Paid-In Capital (for the amount above par value). Please specify the transaction type for a more tailored response.
Which transaction will result in a change in the equity of an entity operating on a bank overdraft?
a cheque issued for payment of salaries.
Will dinar be exchanged in Puerto Rico?
Most International Airports include an exchange point for World Currencies and any major bank will gladly handle such a transaction. It should not matter where your dinars were issued (Algeria, Bahrain, Iraq, Jordan, Kuwait, Libya, Macedonia, Serbia and Tunisia all term their currencies the dinar, and each will have a different exchange rate.)
