1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLEGan [10]
3 years ago
9

On February 20, services valued at $60,000 relating to the organization of a corporation were performed in exchange for 1,000 sh

ares of its $25 par value common stock. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
Ganezh [65]3 years ago
3 0

Answer:

Explanation:

The journal entry is shown below:

On February 20

Organization expense A/c Dr     $60,000

          To  Common Stock A/c $25,000       (1,000 shares × $25)

          To  Paid in capital in excess of par-Common Stock $35,000

(Being the organization expense is recorded and remaining balance is credited to the  Paid in capital in excess of par-Common Stock)

You might be interested in
The University of Puhonicks hires several professors that specialize in accounting, management, and economics and clusters each
ANTONII [103]

Answer:

b) Function

Explanation:

The Dean placed professors in departments based on the subjects they teach or based on their functions in the school. So all professors that function as economics professors are placed in the same department. This is an example of grouping employees by functions.

In geographic grouping, professors would be grouped based on the different regions they teach.

In product grouping, employees are placed in groups based on the product they produce.

I hope my answer helps you

3 0
3 years ago
In a free market, how might Italian restaurants react to a shortage of pizza?
Contact [7]
They would raise the price so not as many people will order it I believe
3 0
3 years ago
Suppose that the spot price of the US dollar is 1 ($/Canadian dollar) and the one-year forward rate is 1.2 ($/Canadian dollar),
natima [27]

Answer:

6 percent.

Explanation:

To solve this question, we will take help of the Fisher equation,

Therefore,

(Spot rate/Forward rate) = (interest rate in US/Interest rate in Canada),

(1/1.2) = (0.05/x), Now solving for 'x'.

There fore,

x = (1.2 * 0.05) / 1

x = 0.06.

Hope this clear things up

Thankyou.

7 0
3 years ago
Many businesses responded to sustainability by adopting a triple bottom line approach, taking into consideration social and envi
Alla [95]

Answer:

B) economic performance

Explanation:

The triple bottom line approach (TBL) refers to an accounting framework with three pillars:

  1. financial profit
  2. social responsibility
  3. stewardship of the environment

The three pillars are part of a broader scope of business values and corporate responsibility.

3 0
3 years ago
EB13.
damaskus [11]

Answer:

Product                  Selling price   Unit variable cost

                                       $                        $

Trunk switch                  60                     28

Gas door switch            75                      33

Glove box light              <u>40</u>                     <u> 22</u>

                                      <u> 175 </u>                   <u> 83</u>

Composite contribution margin

= Composite selling price - Composite unit variable cost

= $175 - $83

= $92

Composite contribution margin ratio

= <u>Composite contribution margin</u>

  Composite selling price

= <u>$92</u>

  $175

= 0.525714285

Composite break-even point in dollars

= <u>Fixed cost</u>

  Composite contribution margin ratio

=<u> $18,840</u>

  0.525714285

=  $35,837

Explanation:

In this case, there is need to add all the selling prices to obtain composite selling price. We also need to add all the unit variable costs to derive composite unit variable cost.

Composite contribution equals composite selling price minus composite unit variable cost.

Composite contribution margin ratio is the ratio of composite contribution to composite selling price.

Composite break-even point in dollars equal fixed cost divided by composite contribution margin ratio.

3 0
3 years ago
Other questions:
  • ASAP!!!!!!!!!!1
    12·1 answer
  • Steve introduces in-house technical training programs for employees, as well as a provision to reimburse the tuition fees for em
    11·1 answer
  • Johnson Production Company paid a dividend yesterday of $3.50 per share. The dividend is expected to grow at a constant rate of
    10·1 answer
  • a. What is the​ bond's yield to maturity​ (expressed as an APR with semiannual​ compounding)? b. If the​ bond's yield to maturit
    12·1 answer
  • What is the cost of goods sold given the following information? Beginning Work in Process 125,000 Beginning Finished Goods 78,00
    14·1 answer
  • What is something I can create or invent that hasn't been invented yet, that could make me a millionaire?
    9·1 answer
  • Which one of the following statements related to the internal rate of return (IRR) is correct? Multiple Choice Financing type pr
    11·1 answer
  • 5.Is it easier for a few firm to enter the market under found in oligopolis competition or oligopolis? Why?
    9·1 answer
  • Can I use MemberPress to create and sell online courses?
    6·2 answers
  • Three soft skills i need an answer
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!