Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) May 19: Issued 2,000 shares of $1 par value common stock for cash of $10.00 per share.
Date Accounts Debit Credit
May 19 Cash 20,000 Paid-In Capital in Excess of Par—Common Common Stock—$1 Par Value 18,000 2,000
Jun. 3: Issued 200 shares of $2, no-par preferred stock for $10,000 cash. Date Accounts Debit Credit Jun. 3 Cash 10,000 Preferred Stock—No Par Value 10,000
Jun. 11: Received equipment with a market value of $78,000 in exchange for 8,000 shares of the $1 par value common stock. Date Accounts Debit Credit Jun. 11 78,000 Equipment Common Stock-$1 Par Value Paid-In Capital in Excess of Par—Common 8,000 70,000
Requirement 2. How much paid-in capital did these transactions generate for Sasha Systems? Total paid-in capital generated from these transactions amounts to $

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

An employer who is considering hiring eva has asked donna, eva’s former supervisor, for a report on eva. in truth, eva’s work for donna has been only average. however, eva is donna’s friend, and donna knows that eva probably will not get the job if she says anything negative about eva, and donna knows that eva desperately needs the job. further, donna knows that if the situation were reversed, she would not want eva to mention her deficiencies. nevertheless, it has been donna’s policy to reveal the deficiencies of employees when she has been asked for references by employers, and she knows that some of eva’s faults may be bothersome to this particular employer. finally, this employer has leveled with donna in the past when donna has asked for a report on people who have worked for him. should donna reveal deficiencies in eva’s past performance? (remember to use one of the three moral theories acceptable for this test to solve this dilemma. any discussion of any personal opinion, religious perspective, or theory other than the moral theories acceptable for this test will result in a score of "0" for this question.)

1. regarding general guidelines for the preparation of successful soups, which of the following statements is true? a. thick soups made with starchy vegetables may thin during storage. b. soups should be seasoned throughout the cooking process. c. finish a cream soup well before serving it to moderate the flavor. d. consommés take quite a long time to cool.