Answer:
Option A.
Dr Cash $300,000
Cr Common stock $300,000
Explanation:
The journal entry of the shares issue with no par value is recorded with the assumption that the only amount received is the par value of the shares that were issued. Which means here we don't have Paid In capital (Share Premium), so the entry would be:
Dr Cash $300,000 ....... (30,000 Shares at $10 per share)
Cr Common stock $300,000
The correct option is A.
Answer:
Explanation:
Excess reserves would rise by $1000 and money supply would also rise by the same amount. however the effect on banking system loans would be according to the interest rate prevailing in the market at that time and furthermore, since banking system can create credit money based on excess reserves its effect on banking system will be measure taking into account all these factors
One of them was an appropriate cover letter and also sampel color referal letters.
Answer:
A. $40,000,000
B.No entry
C.Dr Compensation Expense 10,000,000
Cr Paid-In-Capital- Restricted Stock 10,000,000
D. $34,000,000
Explanation:
A.$20 * 2M Shares
= $40,000,000
B. No Entry
C.
Dr Compensation Expense 10,000,000
($40,000,000/ 4yrs)
Cr Paid-In-Capital- Restricted Stock 10,000,000
D.$20 * 2M Shares * 85%
= $40,000,000*85%
= $34,000,000
Answer Choices:
a. $54,000 ordinary loss.
b. $100,000 ordinary loss; $46,000 net capital gain.
c. $100,000 ordinary loss; $20,000 STCL.
d. $130,000 ordinary loss; $66,000 LTCG.
e. None of the above.
Answer:
e. None of the above.
Explanation:
Matt has a $54,000 STCL ($120,000 - $66,000)
