Brick Oven Corporation was organized early in 2015. The following expenditures were made during the first few
Question:
Attorneys’ fees to organize the corporation ....... $ 7,000
Purchase of a patent ................ 20,000
Legal and other fees for transfer of the patent ..... 3,000
Employee salaries ................ 30,000
Total ...................... $ 60,000
Required:
Record the $60,000 in cash expenditures.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (13 reviews)
Debit Credit Legal Fe...View the full answer
Answered By
Nicholas Maina
Throughout my tutoring journey, I've amassed a wealth of hands-on experience and honed a diverse set of skills that enable me to guide students towards mastering complex subjects. My proficiency as a tutor rests on several key pillars:
1. Subject Mastery:
With a comprehensive understanding of a wide range of subjects spanning mathematics, science, humanities, and more, I can adeptly explain intricate concepts and break them down into digestible chunks. My proficiency extends to offering real-world applications, ensuring students grasp the practical relevance of their studies.
2. Individualized Guidance:
Recognizing that every student learns differently, I tailor my approach to accommodate various learning styles and paces. Through personalized interactions, I identify a student's strengths and areas for improvement, allowing me to craft targeted lessons that foster a deeper understanding of the material.
3. Problem-Solving Facilitation:
I excel in guiding students through problem-solving processes and encouraging critical thinking and analytical skills. By walking learners through step-by-step solutions and addressing their questions in a coherent manner, I empower them to approach challenges with confidence.
4. Effective Communication:
My tutoring proficiency is founded on clear and concise communication. I have the ability to convey complex ideas in an accessible manner, fostering a strong student-tutor rapport that encourages open dialogue and fruitful discussions.
5. Adaptability and Patience:
Tutoring is a dynamic process, and I have cultivated adaptability and patience to cater to evolving learning needs. I remain patient through difficulties, adjusting my teaching methods as necessary to ensure that students overcome obstacles and achieve their goals.
6. Interactive Learning:
Interactive learning lies at the heart of my approach. By engaging students in discussions, brainstorming sessions, and interactive exercises, I foster a stimulating learning environment that encourages active participation and long-term retention.
7. Continuous Improvement:
My dedication to being an effective tutor is a journey of continuous improvement. I regularly seek feedback and stay updated on educational methodologies, integrating new insights to refine my tutoring techniques and provide an even more enriching learning experience.
In essence, my hands-on experience as a tutor equips me with the tools to facilitate comprehensive understanding, critical thinking, and academic success. I am committed to helping students realize their full potential and fostering a passion for lifelong learning.
4.90+
5+ Reviews
16+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Question Posted:
Students also viewed these Accounting questions
-
Brick Oven Corporation was organized early in 2012. The following expenditures were made during the first few months of the year: Attorneys' fees to organize the corporation...
-
During the first few months of the year, John Smith, the cashier in a small company, was engaged in lapping operations. However, he was able to restore the amount of cash borrowed by March 31, and he...
-
The following expenditures were incurred by Peterson Enterprises Co. in 2011: Purchase of land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 270,000 Land survey . . . ....
-
Find the magnitude of the reaction at A and the tension in cable CD using (a) the con- cepts of three-force bodies (closed polygon method discussed in chapter 2). (b) Check your answers by doing sum...
-
It can be shown that the sum of the first n positive numbers is: Use the preceding formula to evaluate a. b. c. (n 1) 100 3k
-
For the network of Fig. 5.151, determine Vcc for a voltage gain of Av = -200. 4.7
-
A spare parts seller finds that 3 in every 100 parts sold is defective. Find the probability that (a) the first defective part is the eighth part sold, (b) the first defective part is the first,...
-
Coca-Cola Company is a global soft-drink beverage company (ticker symbol + KO) that is a primary and direct competitor with PepsiCo. The data in Chapter 12s Exhibits 12.1312.15 include the actual...
-
Explain how RTOS are utilized in embedded systems for industrial, automotive, or aerospace applications. What are the key design principles for integrating RTOS into embedded devices with strict...
-
You are trying to evaluate whether an existing, idle distillation column can be used for a separation for which it was not originally designed. Answer the following questions about this column: a....
-
Red Rock Bakery purchases land, building, and equipment for a single purchase price of $900,000. However, the estimated fair values of the land, buildings, and equipment are $150,000, $600,000, and...
-
Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $30,000,000 in cash. The book values and market values of Icebergs assets and liabilities...
-
Why does Vector Marketing, Cutco's direct marketing wing, typically employ college students?
-
What was the value of the Canadian dollar in terms of U.S. dollars in June 2015 and June 2016? Did the Canadian dollar appreciate or depreciate against the U.S. dollar over the year June 2015 to June...
-
Which types of unemployment could not have been prevented even if Singapores economy did not slow down and the labor market was working properly? Singapore has been facing increasing unemployment due...
-
Kristin deposits $5,000 in cash into her savings account at the First National Bank. What is the immediate change in M1 and M2?
-
What is net present value and how is it used in financial decisions?
-
If the market wage rate rises, but the price of a milkshake remains at $4, what happens to the value of marginal product of labor? Does Kaisers employ more workers or fewer workers? Kaisers Ice Cream...
-
Which of the following is not true regarding the ACFE. a. It is the largest antifraud organization in the world. b. It has roughly 12,000 members throughout the world. c. The entire organization is...
-
Test your confidence in the following Project Decisions: SI. # Question 01 02 03 04 05 06 07 08 09 10 How many years did it take to construct the largest Egyptian Pyramid- Pyramid of Cheops? When was...
-
The monthly data of water price and consumption of a city is given in Table 6. 13. Determine the price elasticity. Discuss the effectiveness of applying pricing strategies for decreasing water...
-
(a) What information do accrual basis financial statements provide that cash basis statements do not? (b) What information do cash basis financial statements provide that accrual basis statements do...
-
Identify the account(s) debited and credited in each of the four closing entries, assuming the company has net income for the year.
-
Some companies employ technologies that allow them to do a so-called virtual close. This enables them to close their books nearly instantaneously any time during the year. What advantages does a...
-
Josh is convinced that subgroups exist within his company current customer base. Further, he believes that these different groups of customers opt to purchase his company brand for different reasons,...
-
Question related to Chick-fil-A Company 1. Why is it important to study a company like Chick-fil-A? 2. What does Chick-fil-A require of its store operators? What does it look for in an employee? How...
-
At the beginning of the case, the author builds a case for 3M's outstanding performance as an innovative company. What evidence does he give? What early product breakthroughs shaped 3M's approach...
Study smarter with the SolutionInn App