Question
On the balance sheet how are the following events recorded? - Owner sold 1/3 of the stock he owned for 11,000 cash? (I understand increase
On the balance sheet how are the following events recorded?
- Owner sold 1/3 of the stock he owned for 11,000 cash? (I understand increase in cash on Assets and increase in ?? Property Appreciation?? on L&O equity side??
- Merchandise costing $1,700 was sold for $2,620, the customers agreeing to pay the $2,620 within 30 days. (No cash received, how do I account for this?? Accounts Recievable or do not place in balance sheet because the cash has not been recieved???)
- Owner learned that the individual who purchased a lot of land subsequently sold it for $14,000. The lot still owned by the owner is identical in value and was purchased for $12,000, a $2,000 increase in value. (Property value increase of $2,000, increase Assets of Property Appreciation value and increase L&O equity side as Goodwill??)
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