Answer:
D) Credit paid in capital in excess of par on common, $400
Explanation:
The summary journal entry should be:
Dr Cash 1,200
Cr Common stock 800
Cr Additional paid-in capital in excess of par value 400
the subscriber paid $1,200 / $15 per stock = 80 stocks
par value = $10 per stock x 80 stocks = $800
additional paid-in capital = $5 per stock x 80 stocks = $400
Answer:
These answer choices are correct:
a) Different companies use different charts of accounts based on individual company need.
The chart of accounts is the list of all the accounts that a company uses over a period of time. Because each company has a different economic and operating activity, each company's chart of accounts is unique.
b) The chart of accounts contains the balance of all of the accounts in a ledger
c) The chart of accounts should be ordered in a logical sequence based on type of account
The chart of accounts includes all the acounts of the ledger, and it also is organized following a logical sequence. Assets, Liabilities, Stockholders' Equity, and their corresponding subdivisions, is usually the order of organization.
Answer:
cradle to cladle
Explanation:
The analysis of the life cycle of an item starting with its raw materials and ending with the used item becoming the raw material for new products is called cradle to cradle
Answer:
The financial disadvantage for the company is 3,500
Explanation:
Computation is Shown Below;
Sales Value at split-off Point = 24000
Subtract: Allocated joint Cost =<u> 16800</u>
Profit if sold at split-off point = 7200
Sales Value after processing = 35500
Subtract: Allocated joint Cost = 16800
Sub: Cost of further processing <u>= 15000 </u>
Profit if Processing further = 3700
Financial Disadvantage = 3700 - 7200 = (3500)
