Answer:
The Journal entry is as follows:
Land A/c Dr. $245,000
Building A/c Dr. $374,000
To Common stock, $8 par value $232,000
To Paid-in capital in excess of par value, common stock $387,000
(To record issuance of the stock in exchange for the land and building)
Workings:
Common stock = $8 × 29,000 shares
= $232,000
Answer:
Piper should report $308,000 as net income for the year . Option C
Explanation:
Accumulated Depreciation till 2014 = [$600,000×(5+4+3)] ÷ 15 = $ 480,000
Book Value at beginning 2015 = $600,000 - $480,000 = $120,000
Depreciation Expense in 2015 = $120,000 ÷ 2 = $60,000
Net Income before depreciation & taxes = $ 500,000
Depreciation = $ 60,000
Electronic Benefits Transfer = Net Income before depreciation & taxes - Depreciation
= $ 500,000 - $ 60,000
=$ 440000
Tax Expenses = $440,000 × 30% = $132,000
Net Income =$ 308,000
Answer:
D) the speakers only
Explanation:
UCC rules state that contracts sales or lease contracts must be in writing only when:
- the contract for the sale of goods must be worth at least $500 (only the speakers cost more than $500)
- leasing contracts worth at east $1,000
*If the parties involved are merchants, this rules might vary.
The type of software that is copyrighted and provided at no cost, though the developer retains all rights to the program is: Freeware.
<h3>What is Freeware?</h3>
Freeware is a type of software that fully belongs to the original owner but which allows others to use them without any additional cost to them.
Freeware can come in the form of antivirus software. Users can access the free versions of the software although premium plans might require payment.
Learn more about copyright here:
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