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3 years ago

On May 10, Sheffield Corp. issues 2,500 shares of $5 par value common stock for cash at $12 per share.

Business

1 answer:

Murljashka [212]3 years ago

3 0

Answer:

Explanation:

The journal entry to record the issuance of common stock is shown below:

Cash A/c Dr $30,000 (2,500 shares × $12)

To Common Stock $12,500 (2,500 shares × $5)

To Additional Paid-in Capital in excess of par - Common Stock $17,500

(Being the issuance of stock is recorded and the remaining balance is credited to the additional paid-in capital account)

While issuing the stock, we debited the cash account and credited the common stock and additional paid-in capital account

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Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable wit

WARRIOR [948]

Answer:

Jesse's Investment

<em>Journal Entries to record in the Partnership accounts </em>

Account Titles Debit Credit

Accounts Receivable $46,500

($50,000 - $3,500)

Equipment(Agreed Price) $58,000

Allowance for Doubtful Debts $2,000

Jesse Capital Account $102,500

(Balancing Figure)

Tim's Investment

<em>Journal Entries to record in the Partnership accounts </em>

Account Name Debit Credit

Cash $21,000

Inventory (At Agreed price) $48,000

Tim Capital $69,000

8 0

2 years ago

Turner Company issued $300,000 of 6%, 5-year bonds at 98.

Vladimir [108]

Answer:

d. $19,200

Explanation:

Turner Company issued $300,000 of 6%, 5-year bonds at 98. Assuming straight-line amortization and annual interest payments, how much bond interest expense is recorded on the next interest date?.

=($300,000 x 6% plus $6,000/5)

Therefore the correct answer is d)$19,200

3 0

3 years ago

Retail managers can use ________ to determine which inventory items require the most attention.

pantera1 [17]

Answer: (D) ABC analysis

Explanation:

ABC analysis is one of the type of inventory method that are basically divided into the three main categories that is A,B and the C categorization.

The main advantage of this type of analysis is that it is categorized on the quantity and the values basis and this analysis is basically keeps the cost in the business under the control. It is also known as the inventory management and the ABC analysis contributed in the overall profit in an organization.

According to the question, the retail manager basically using the ABC analysis for determining the inventory items in the system.

Therefore, Option (D) is correct.

5 0

3 years ago

The first decision a manager must make in sales force management is _______________. A. recruitment and selection processes for

Gala2k [10]

Answer:

The correct answer is B

Explanation:

Sales force management is the system which is basically the information system and its objective is to help the organisation to grow better, faster through automating the work which the sales management and sales force.

So, the first and the foremost decision which a manager need to take in this system is to design or create the structure as well as the strategy of the sales force.

7 0

2 years ago

Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $16; direct lab

SCORPION-xisa [38]

Answer:

Selling price= $51.48

Explanation:

Giving the following information:

Direct materials $16

Direct labor $5

Variable manufacturing overhead $9

Variable selling and administrative expenses $6

To compute the total cost per unit, we will use the variable costing approach. We will only compute the variable costs.

Total cost per unit= $36

Selling price= $51.48

6 0

2 years ago