Question
Which of the following events listed below results in an accounting transaction for Clothing Ltd? State a reason if it is not an accounting transaction.
Which of the following events listed below results in an accounting transaction for Clothing Ltd? State a reason if it is not an accounting transaction.
Clothing Ltd signed a contract to hire a new store manager for a salary of $150,000 per annum. The manager will start work next month.
The founder of Clothing Ltd., who is also a major shareholder, purchased additional stock in another company.
Clothing Ltd borrowed $230,000 from a local bank.
Clothing Ltd purchased a sewing machine, which it paid for by signing a note payable.
Clothing Ltd issued 10,000 shares to a private investor, who is also a car business owner, in return for a new delivery truck.
Two investors in Clothing Ltd sold their stock to another investor.
Clothing Ltd ordered some fabric to be delivered next week.
Clothing Ltd lent $250,000 to a member of the board of directors.
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