Based on the information given the entry to record this transaction will include a credit to additional paid-in capital for $42,000.
Marker, Inc. Journal entry
Debit Cash $140,000
(7,000 shares×$20 per share)
Credit Treasury stock $98,000
(7,000 shares×$14 per share)
Credit Additional paid-in capital - treasury stock $42,000
[($20-$14)×7,000 shares]
(To record treasury stock)
Inconclusion the entry to record this transaction will include a credit to additional paid-in capital for $42,000.
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Nellie's position would be classified as a staff position since he working as an attorney for the same consulting firm.
<h3>Who is an attorney?</h3>
An attorney is a person or a member of the legal profession. They are licensed and qualified to represent a client in court.
Here, Nellie is providing legal support to his firm's consultant hence his position would be considered as staff.
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Answer:
a) see attached graph
b) slope = -1/2 = -0.5
c) slope = -1/3 = -.033
d) trading with Kwame (green line)
e) you should trade with Kwame since you can obtain more fish (up to 60 in total)
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales:
January= $18,500
February= $16,000
March= $11,000.
All sales are made on open credit with 70% collected in the month of sales and 30% collected in the following month.
Cash collection= sales for the month*0.7 + cash from the month before
February:
From february= 16,000*0.7= $11,200
From January= 18,500*0.3= $5,550
Total= $16,750
March:
From March= 11,000*0.7= $7,700
From February= 16,000*0.3= $4,800
Total= $12,500
