Answer:
Felix Incorporated
Exchange of Preferred Stock for Land:
Journal Entries:
Debit Land $90,000
Credit Preferred Stock $81,250
Credit Additional Paid-in Capital - Preferred Stock $8,750
To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.
Explanation:
Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value. The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock. Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records. The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.
I think the correct answer from the choices listed above is the third option. Price ceilings are often established in order to keep products affordable for consumers. <span>A </span>price ceiling<span> is a government-imposed </span>price<span> control or limit on how high a </span>price<span> is charged for a product. </span>
Answer:
Erica Els will hire qualified workers from the local market
Explanation:
The difference between last year's and this year's sales in percentage 325000-250000=75000/250000*100
=30%
By sales, what do you mean?
Any exchange of money for tangible or intangible products, services, or assets between two or more persons is referred to as a sale. Other assets may in some situations be given to a seller.
Why are sales crucial?
Sales are crucial in creating consumer loyalty and trust with businesses. Customers choose to promote your business to friends and family and to post positive reviews of your goods and services online mostly because they have faith in you and value your loyalty.
To know more about sales
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