Tutor profile: Julie K.
Solve for 2 + x = 5.
x is the unknown variable that you need to solve for by getting x by itself on one side of the equation. In order to get x by itself you need move 2 to the other side. In order to move a number from one side of the equation to the other you must do the opposite of the current sign. As 2 is positive you must subtract. The equation now becomes x = 5 - 3. Therefore, x = 2.
When a corporation issues common stock for cash, what accounts are impacted and what is the resulting journal entry?
When a coproration issues common stock for cash the two accounts that are impacted are common stock and cash. Cash is increased for the amount that the shareholder's provided in exchange for common stock. The resulting journal entry is a debit to Cash (increase Asset) and credit to Common Stock (increase Equity).
What is the different types of business organizations?
There are various types of ways to form a business, the most common being a Partnership and Corporation.
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