Classifying events as asset source, use, or exchange Vera Company experienced the following events during its first year of operations.

1. Acquired $16,000 cash from the issue of common stock.
2. Paid $3,500 cash for salary expenses.
3. Borrowed $10,000 cash from New South Bank.
4. Paid $6,000 cash to purchase land.
5. Provided boarding services for $10,500 cash.
6. Acquired an additional $1,000 cash from the issue of common stock.
7. Paid $2,400 cash for utilities expense.
8. Paid a $1,500 cash dividend to the stockholders.
9. Provided additional services for $6,000 cash.
10. Purchased additional land for $2,500 cash.
11. The market value of the land was determined to be $24,000 at the end of the accounting period.
Required
Classify each event as an asset source, use, or exchange transaction.

Vera Company

1. Acquired $16,000 cash from the issue of common stock. [ Exchange; Cash balance increases while Owners Equity also increases. The net effect is zero ]

2. Paid $3,500 cash for salary expenses [ Asset Use; because we deplete Cash as an asset to pay for an expense item]

3. Borrowed $10,000 cash from New South Bank. [ Exchange. We got cash (an asset) but created a liability through bank loan, net effect is zero]

4. Paid $6,000 cash to purchase land. [ Exchange; depleted Cash (an Asset) to obtain another Asset (Land) net effect is zero]

5. Provided boarding services for $10,500 cash. [ Asset Source; income is driving up our cash balance (an Asset)]

6. Acquired an additional $1,000 cash from the issue of common stock. [ Exchange; Cash balance increases while Owners Equity also increases. The net effect is zero ]

7. Paid $2,400 cash for utilities expense. [ Asset Use; because we deplete Cash as an asset to pay for an expense item]

8. Paid a $1,500 cash dividend to the stockholders. [ Asset Use; because we deplete Cash as an asset to pay for dividend to shareholders]

9. Provided additional services for $6,000 cash. [ Asset Source; income is driving up our cash balance (an Asset)]

10. Purchased additional land for $2,500 cash. [ Exchange; depleted Cash (an Asset) to obtain another Asset (Land) net effect is zero]

11. The market value of the land was determined to be $24,000 at the end of the accounting period. :[ Asset Source; improvement in fair valuation of Asset]

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

answer/// the grapefruit that guarantees you will loss five pounds a week;