The following selected information is from princeton company’s comparative balance sheets. at december 31 2017 2016 common stock, $10 par value $ 120,000 $ 110,000 paid-in capital in excess of par 577,000 347,000 retained earnings 323,500 297,500 the company’s net income for the year ended december 31, 2017, was $53,000. 1. complete the t-accounts to calculate the cash received from the sale of its common stock during 2017.

cash 240,000 debit

common stock 10,000 credit

additional paid-in 230,000 credit

Explanation:

Common stock 2017 - Common stock 2016 = Δ2017

additional paid-in 2017 - additional paid-in 2016 = Δ2017

120,000 - 110,000 = 10,000

577,000 - 347,000 = 230,000

Total increase 240,000

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

the first one $24,630