XAC Received a Share Subscription from J

question 12

Essay

XAC received a share subscription from J.Doe for 100 of its common shares, issue price $15; one-third cash down payment.Provide the entry to record the subscription and partial payment.

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Definitions:

Cell A1

The reference to the first cell in spreadsheet programs like Microsoft Excel, located at the intersection of the first row and the first column.

Cell B1

Refers to the cell located at the intersection of column B and row 1 in a spreadsheet.

Manual Calculation Option

A setting in applications like spreadsheets that requires the user to request calculations instead of having them done automatically.

Quick Analysis Tool

A feature in certain software applications that provides immediate access to a range of analytical options for selected data.