Geronimo Company Issued 20,000 Shares of $1 Par Value Common

question 85

Multiple Choice

Geronimo Company issued 20,000 shares of $1 par value common stock at $10 per share.Ms.Elgin,the bookkeeper,recorded this transaction with a $200,000 debit to Cash and a $200,000 credit to Common Stock.As a result of this entry:

• A)total assets will be overstated.
• B)Additional Paid-In Capital will be understated.
• C)total stockholders' equity will be understated.
• D)equity will be overstated.

Identify factors that shift demand and supply curves, including income changes, price expectations, and changes in tastes.

Analyze the effects of price changes on demand and supply, including movements along and shifts of curves.

Comprehend the impact of changes in related goods' prices (substitutes and complements) on the demand for a good.

Recognize how expectations regarding future prices or income can influence current demand.

---

Definitions:

Electronic Communication

The transmission of information using electronic means such as email, instant messaging, social media, or other digital platforms.

Cash Transfer

A movement of funds from one account or entity to another, which can occur electronically or as a physical exchange of money.

Purchasing Department

The Purchasing Department is responsible for procuring goods and services for a company, ensuring the right materials are available at the best prices to meet organizational needs.

Outstanding Checks

Outstanding checks refer to checks that have been written and recorded by an issuing company but not yet cashed or cleared by the bank.