All categories

3 years ago

Prepare the journal entry to record autumn company’s issuance of 63,000 shares of no-par value common stock assuming the shares:

Business

1 answer:

mojhsa [17]3 years ago

7 0

The entry for this transaction would be this:

Land 1,827,000

Ordinary shares 1,827,000

The market value of the shares on this transaction does not affect the recording of this transaction. If the share has no par value, the stated value should be used. Stated value is a value assigned by the company to its stock for the purpose of accounting and it does not have any relation with the market value of the shares. Since stated value is not given in this problem, we should record the entire amount of the land exchanged in this transaction to the "Ordinary shares" account.

You might be interested in

In February, Pedro, the manager of a pool supply and cleaning company, is looking at the upcoming need for more workers to handl

Mademuasel [1]

Planning is the management process that Pedro is using.

Answer: Option A.

Explanation:

Management process is the process that has certain steps and procedures in it that a business organisation needs to follow to achieve the goals of the organisation and for the betterment of the business organisation for which the employers are working.

The various steps and procedures of the management process are planning, organizing, managing, leading, controlling and so on. Planning is the management process in which all the resources needed to achieve the organisational goals are planned and there is proper thinking before acting to achieve the goals.

5 0

3 years ago

Gilberto's profit is maximized when he produces 3 shirts. When he does this, the marginal cost of the previous shirt he produces

rosijanka [135]

Explanation:

Profit is maximized at the production point of four tops. The disparity in net income and net expenditure is highest in this amount.

Another way of talking about this is to note that for the first 4 shirts that Gilberto makes, the marginal cost (MC) of making each shirt is smaller than the total revenue (MR) it generates from selling the shirt.

Beyond just the third shirt he makes per hour, the total cost of making the shirt is higher than the amount Gilberto receives; thus, opting to manufacture more than 4 shirts decreases Darnell's benefit.

3 0

3 years ago

Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost

Llana [10]

Answer:

$89,350

Explanation:

Calculation to determine the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet

First step is to calculate the Balance after first payment

Initial lease liability $130,000

Less: First payment $23,000

Balance after first payment $107,000

Second step is to calculate the Interest expense for June 30,2021

Interest expense for June 30,2021= $107,000*5%

Interest expense for June 30,2021=$5,350

Third step is to calculate the Principal payment for June 30,2021

Principal payment for June 30,2021=$23,000-$5,350

Principal payment for June 30,2021=$17,650

Now let calculate the Outstanding balance on June

Balance after first payment. $107,000

Less: Principal payment for June $17,650

Outstanding balance on June $89,350

Therefore the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet is $89,350

8 0

3 years ago

How do you say 0.000354

nikitadnepr [17]

Answer:

"Zero point zero zero zero three five four"

Explanation:

When you say the numbers after the decimal, you read each digit separately.

This is opposed to the number before the decimal, where you read the numbers together. (For example, 45.56 is forty-five point five six).

7 0

3 years ago

Read 2 more answers

Robin is granted 1,500 shares of restricted stock from her employer when the stock is trading at a fair market value of $25 per

bija089 [108]

Answer: $13125

Explanation:

Firstly, we should note that in section 83(B), tax is being paid based on the stock's fair market value. Therefore, the income tax that will be due on this transaction in the year of election will be:

= Number of shares × Price × Tax rate

= 1500 × $25 × 35%

= 1500 × $25 × 0.35

= $13125

7 0

3 years ago