Answer:
$16,000,000
Explanation:
This question requires us to give the amount arising in cash assets after this transaction.
We simply have to focus on the price offered for the share on the date of sale which is $16.00. Thus, cash proceeds (debited) will be :
Cash Proceeds = Share Price × Number of Shares issued
= $16.00 × 1,000,000 shares
= $16,000,000
<u>The rest of the Journal entry for this transaction will be :</u>
Debit : Cash ($16.00 × 1,000,000) $16,000,000
Credit : Common Stock ($0.12 × 1,000,000 shares) $120,000
Credit : Paid In Excess of Par ($15,88 × × 1,000,000 shares) $15,880,000
Answer:
The answer is 14,000 units to break even and 21,000 units to earn a profit of 42,000.
Explanation:
To calculate a break-even point based on units: Divide fixed costs by the revenue per unit minus the variable cost per unit. The fixed costs are those that do not change no matter how many units are sold. The revenue is the price for which you're selling the product minus the variable costs, like labor and materials.
Answer:
The correct answer is D.John is considered as an exempt employee.
Explanation:
Some employees are exempt from overtime pay provisions, even when they are covered by other FLSA provisions. Although the actual determination of the exempt and non-exempt status is complex, exempt employees usually meet three tests: payments greater than US $ 455 per week, receive a salary instead of an hourly rate and perform a job in an exempt category listed by the US Department of Labor. Exempt categories include supervisors, managers, professional services and some administrative jobs.
Answer: It is called prospecting and qualifying.
To calculate goodwill, the truthful cost of the assets and liabilities of the received commercial enterprise is added to the truthful value of the business's belongings and liabilities.
Calculation of goodwill gain and bargain purchase:-
Particulars Amount
Assets :
cash $ 23,000
property & equipment 85,000
internally developed patent 3,000
Total assets $ 111,00
Less: Liabilities ( 16000 )
Net assets of William co. $ 95,000
Purchase consideration paid $ 145,000
goodwill [ purchase consideration-net assets ] $ 50,000
The assets & Liabilities of the Acquiree are recorded at fair value in the books of the acquiree.
The excess of price over the honest cost of internet identifiable assets is called goodwill. Goodwill Calculation example: business enterprise X acquires organization Y for $2 million. whatever it pays above and past the internet fee of the target's identifiable assets turns into goodwill on the balance sheet.
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