On March 1, 2020, Pinnacle Prairie Corporation sold 100 shares of common stock to Tahoe...
60.1K
Verified Solution
Question
Accounting
On March 1, 2020, Pinnacle Prairie Corporation sold 100 shares of common stock to Tahoe Lake Venue. Each share of stock cost Tahoe $44. Pinnacles par value of one share of common stock is $2. Tahoe buys the stock with the intention of holding it for 3 years. The shares of stock which Tahoe purchases of Pinnacle represent a 1% ownership interest.
Answer the following questions from Tahoe Lake's point of view.
5. What is the most appropriate name (abbreviation) of the account which is DR for Tahoe Lake?
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.