Sully Sports Cars Co

question 20

Essay

Sully Sports Cars Co. entered into a subscription contract with various investors. The terms were as follows:
· 2,000 shares of $5 par common at $24.
· $10 down payment per share; two subsequent payments of $7 each.
Required:
a. Record the subscription and the receipt of the down payment.
b. The first subsequent $7 payment was received from all subscribers.
c. When the final $7 payment was due, 90% of the final total amount due was received and stock was issued. Record this receipt and stock issuance.
d. The remaining 10% of the final payment was not received. According to contract provisions, half of any previous payments should be returned to the subscriber with the remaining half forfeited by the subscriber. Record the entry related to the default.

Familiarize with the application of personality theory in real-world contexts, such as counseling and criminal profiling.

Understand the influence and alignment of various institutions (political, economic, social) on stakeholder orientation and management ethics.

Recognize the motivational tools used by superiors to influence employee behavior and their ethical implications.

Identify the role of culture, both corporate and ethical, in shaping organizational behavior and decision-making.

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Definitions:

Modern Scientist

A modern scientist engages in systematic study and builds knowledge through research, experimentation, observation, and methodological analysis in fields such as biology, chemistry, physics, and beyond.

Conservation of Mass

A fundamental principle of classical physics that states mass in an isolated system is neither created nor destroyed by chemical reactions or physical transformations.

Chemical Reaction

A process that involves the transformation of one or more substances into one or more different substances through the breaking and forming of chemical bonds.