A) Net income:
Revenue - Expenses = 13 100 - 8 200 = $4 900
b ) Assets = Liabilities + Shareholders equity ( SE)
SE = A - L = 43 500 - 20 500 = $23 000
The required earnings after dividends:
4 900 - 2 140 = $ 2 760
The Stockholders´ equity: at the end of the period:
23 000 + 2 760 = $ 25 760
The right answer for the question that is being asked and shown above is that:
"FALSE." <span>Accounts in non-depository institutions are almost always insured by the government.
</span>"FALSE." All financial institutions are equally safe and <span>beneficial to use.
"TRUE." </span><span> Financial experts recommend that you compare at least several different financial institutions in your area and find the one that best meets your needs.
"TRUE." </span><span>Personal financial planning is the process of creating and achieving financial goals
"FALSE." </span><span>Shared decision-making is always a positive strategy to take</span>
Answer:
There convincing indications in the questions that suggest that the requirement is to prepare journal to record the transactions.
Find all the journal entries in the explanation section below
Explanation:
The re-acquisition of 114 shares on July 1,2020, gave rise to the below journal
Dr treasury stock(114*$89) $10146
Cr Cash $10146
Being payment made for stocks reacquired
The issuance of 61 shares at the price of $94 each gave rise to the below journal:
Dr Cash $5734
Cr Treasury stock($89*61) $5429
Cr paid-in capital $305
Being receipt of cash on shares issued
The issuance of additional shares on November 1,2020,gave rise to below journal:
Dr Cash(53*$85) $4505
Dr Paid-in capital ($89-$85)*53 $212
Treasury stock $4717
Being receipt of cash on shares issued
Answer:
d. Cash will be debited for $210,000.
Explanation:
The journal entry for the issue of shares is shown below:
Cash A/c Dr $210,000
To common stock (5,000 shares × $5) = $25,000
To Paid-in Capital in Excess of Par Value $185,000
(Being issue of shares recorded)
So, the cash account is debited whereas the common stock and paid-in capital should be credited
And, the remaining balance should be transferred to the Paid-in Capital in Excess of Par Value
A cover letter is the professional communication .