Whitney Chemicals Company Received Cash Contribution of $40,000 from the Owner

question 55

Multiple Choice

Whitney Chemicals Company received cash contribution of $40,000 from the owner of the business.Which of the following accounts will be credited?

• A)Accounts Receivable
• B)Cash
• C)Owner,Capital
• D)Accounts Payable

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Definitions:

Sales Commission

A portion of the sale price of a product or service that is paid to the individual or entity responsible for making the sale.

Share Value

The price of a single share of stock in a company, reflecting the market's valuation of the company.

Student To Teacher Ratio

The student to teacher ratio is a measure indicating the number of students for every teacher, used to gauge the level of educational attention and resources available to students.

Suggested Retail Price

The price at which the manufacturer recommends a retailer sell a product for to consumers.