Answer:
Feb. 1
Debit : Cash (48,000 x $52) $2,496,000
Credit : Preferred Stock (48,000 x $50) $2,400,000
Credit : Paid in excess of Par - Preferred Stock $96,000
July 1
Debit : Cash (66,000 x $56) $3,696,000
Credit : Preferred Stock (66,000 x $50) $3,300,000
Credit : Paid in excess of Par - Preferred Stock $396,000
Explanation:
With Par value stocks, any amount paid in excess of par is placed in a reserve - Paid in Excess of Par as shown in the journals above.
Answer:
Explanation:
The journal entries are shown below:
1. Cash A/c Dr$598
To Sales $560
To Cash over and short $38
(Being the cash sales are recorded and the remaining balance is credited to the cash over and short account)
2. Cash A/c Dr $1,112
Cash over and short A/c Dr $36
To Sales A/c $1,148
(Being the cash sales are recorded and the remaining balance is debited to the cash over and short account)
Answer:
The correct word for the blank space is: lower; buyers to offer higher prices.
Explanation:
In a market driven by supply and demand laws, shortages are caused because of excess in demand as a result of lower prices. Thus, that price is lower than the equilibrium price. Besides, if there is a need to push that price to its equilibrium level, sellers will have to increase the price implying buyers will have to offer higher prices.
Strategic alliances generally include the risk of one partner will make advantage of the other's information to strengthen its own competitive position.
A strategic alliance is an agreement between two businesses to work together on a project that will benefit both parties while maintaining their individual freedom. Compared to a joint venture, which sees two companies combine resources to form a new company, the arrangement is simpler and less legally enforceable.
The collaboration between Spotify and Uber is a well-known example of a strategic alliance. Due to their strategic partnership, Uber customers may log in to Spotify and listen to their favorite music while riding.
To learn more about Strategic alliance
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Answer:
- <u><em>Pakistan's GDP = 13.53 trillions of rupees.</em></u>
Explanation:
<em>GDP</em> is the gross domestic product. It is the value of all the goods and services produced by an economy (a country), in a period, which is normally one year.
The <em>GDP</em> can be calculated with the equation:
GDP = Consumption + Investment + Goverment spending + Net Exports
Where, Net Exports is the value of the exports less the value of the imports.
Thus, the values that you need to sue to calculate the GDP are:
- Consumptiion
- Investment
- Goverment spending
- Exports
- Import
<u>Identify</u> the values that you need to incorporate in your formula. Here is the selection (all the amounts are in trillions of rupees):
- Consumption = individuals consume: 10.40
- Investment = businesses invest = 1.35
- Government spending = goverment purchases = 2.80
- Exports = Pakistan exports = 1.29
- Imports: Pakistan imports: 2.31
Those are all. Other items, i.e. foreigners spend (0.60 trillions of rupees) and individuals save (5.00 trillions of rupees), do not count for the GDP.
<u>Compute</u> (in trillions of rupees):
- GDP = 10.40 + 1.35 + 2.80 + (1.29 - 2.31) = 13.53
<u>Answer</u>: Pakistan's GDP = 13.53 trillions of rupees.
