Please someone help me..

LBM, Inc. issues 25,000 shares of common stock for $20 per share. The stock has a par value of $1 per share. By what amount woul

Arisa [49]

Answer:

$475,000

Explanation:

Calculation for By what amount would LBM credit capital in excess of par

Dr Cash $500,000

(25,000 shares*$20 per share)

Cr Common Stock $25,000

(25,000 shares*$1 per share)

Cr Capital in excess of par $475,000

($500,000-$25,000)

Therefore based on the above Journal entry and calculation the amount that LBM would credit as capital in excess of par will be $475,000 ($500,000-$25,000).

5 0

3 years ago

A horizontal demand curve shows that demand for a good is _____.

Evgen [1.6K]

'Elastic' goods-is something in the market that is high in demand (in publicity-and that people buy it.
Ex beef is a great example of an elastic good. If you set the beef to a higher price than usual-customers will not buy it as expectedly as before.

'Inelastic' goods like gas- is a perfect example because if you set gas in high price-customers would not question it and pay for the price of gas anyways. (Due to it fulfilling customers' needs only.)

To answer your question, a horizontal demand curve is when you have a fixed demand in price (people are buying it has demand) and that supplies have ample quantity. (Supplies are high quantity)

Demand for a good in the horizontal demand curve is 'moderately elastic' because the supplies have quantity more than the fixed demand. It fits modernly elastic-customers are not buying as much due to high price and therefore supplies of quality increases. Just like the beef example.

The Answer is A

If the horizontal demand curve is 'inelastic' then it would be the opposite- demand would be higher than the quantity of supply.

Hope this helps :)

4 0

3 years ago

what is a graphical representation of the combination of goods and services that can be produced in a situation

Komok [63]

Answer: Production possibility frontier (PPF).

Explanation: PPF is curve on a graph which depicts the situation which you have asked in a question. For your ease i will upload a picture of that curve so that you can understand the answer better. For better understanding the graph below uses the example of Cotton as a good.

3 0

3 years ago

Read 2 more answers

The following balances were taken from the books of Splish Corp. on December 31, 2017.Interest revenue $87,550 Accumulated depre

Karolina [17]

Answer:

Sales revenue 1,381,550

Sales discounts (46,550)

Sales returns and allowances (151,550)

net sales 1,183,450

Cost of goods sold <u> (622,550) </u>

gross profit 560,900

Admin and general expenses (98,550)

Selling expenses (195,550)

Operating Income: 266.800‬

Non-operating income:

Interest revenue 87,550

Interest expense (61,550)

Loss from earthquake

damage (151,550)

non-operating loss (125,550)

Income before taxes 141.250‬

income tax expense (34%) (48,025)

Net income 93,225‬

Explanation:

First, we calcualte net sales,

then the gross profit.

Then, the interest and earthquake will be disclosure separately as they are not operational result. Do not arise from the normal business operations.

Finally, the net income is determined after reducing the income tax expense

5 0

3 years ago

Janet was willing to contribute $30 this year to her local college radio station. However, after learning that the radio station

trasher [3.6K]

Answer:

Free rider problem

Explanation:

A popular term that describes a situation when those who benefit from resources, or services offered to the community do not pay for them.

The free-rider problem usually occurs with goods or services which are non-restrictive like radio services.

Since Janet does not pay for the radio services and yet benefits from it, she is a free rider.

3 0

4 years ago