Answer:
BUCKEYE INCORPORATED
General Journal:
No Date Description Debit Credit
1 November 01
Cash $11,000
Common Stock $11,000
To record the issue of common stock for cash.
2. November 02
Equipment $1,500
Long-term Note Payable $1,500
To record the purchase of equipment from Spartan Corporation.
3. November 04
Supplies $1,100
Accounts Payable $1,100
To record the purchase of supplies on account.
4. November 10
Accounts Receivable $7,000
Service Revenue $7,000
To record the provision of services to customers on account.
5. November 15
Accounts Payable $1,200
Cash Account $1,200
To record the payment to suppliers on account.
6. November 20
Salaries Expense $1,000
Cash Account $1,000
To record the payment of salaries for the first half month.
7. November 22
Cash Account $9,000
Service Revenue $9,000
To record the provision of services to customers for cash.
8. November 24
Long-term Notes Payable $600
Cash Account $600
To record the payment on note to Spartan Corporation.
9. November 26
Utilities expense $1,200
Cash Account $1,200
To record the payment for gas and electricity for November.
10. November 30
Rent expense $3,000
Cash Account $3,000
To record the payment of rent for November.
Explanation:
General Journals: Buckeye Incorporated can use the general journal to record its business transactions as they occur on a daily basis. It shows the accounts involved in the transaction and the accounts to be debited and credited as the case may be.
Answer:
Date Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 50 $ 10
July 13 Purchase 250 13
July 25 Sold (100 ) $ 15
July 31 Ending Inventory 200
Cost of Goods Available for sale= 250 units at $ 13+ 50 units at $ 10
= 3250 + 500= $3750
FIFO Ending Inventory $ 2600
200 units at $ 13= $ 2600
Sales 100At $ 15= $1500
FIFO Cost Of Goods Sold $ 1150
50 units at $ 10= $ 500
50 units at $ 13= $ 650
LIFO Ending Inventory $ 2450
50 units at $ 10= $ 500
150 units at $ 13= $ 1950
Sales 100 at $ 15= $1500
LIFO Cost Of Goods Sold $ 1150= Cost of Goods Available for Sale Less LIFO Ending Inventory = 3750- 2450= $ 1300
100 units at $ 13= $ 1300
Weighted Average Ending Inventory 12.5 * 200= $ 2500
Total Cost/ total units= 3750/300= 12.5
Weighted Average Cost Of Goods Sold $ 1150= Cost of Goods Available for Sale Less Weighted Average Ending Inventory = 3750- 2500= $ 1250
Weighted Gross Profit= Sales Less Weighted Cost Of Goods Sold= $ 1500- $ 1250= $ 250
Answer:
Net Asset Value of the fund = $377.6 million
Explanation:
Net Asset Value 9NAV) is the value per share in a portfolio.
Provided information,
All Star Basic Value Fund value = $386.2 million
Liabilities of fund = $8.6 million
Net Asset Value = $386.2 - $8.6 = $377.6 million
Net Asset Value per share = 
Therefore, Net Asset Value of the fund = $377.6 million
And NAV per share = $20.30
The <u>right to declare </u><u>dividends </u><u>on the common stock </u>is never directly granted to all shareholders of a publicly held corporation. To declare dividends on the common stock.
When a corporation declares a dividend, it offers the amount of the dividend and the elegance of stocks for which the employer will pay the dividend. every person keeping shares of dividend-paying common inventory has a right to the dividend as long as he holds the inventory at the "report" date.
The board of administrators issues a declaration declaring how a whole lot can be paid out and over what timeframe. This statement implies liability for the dividend payments.
Legally, businesses must have a credit score stability in Retained earnings with a purpose to claim a dividend. Nearly, a employer must even have a coins balance huge enough to pay the dividend and nevertheless meet upcoming desires, including asset growth and payments on existing liabilities.
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