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

The Retreat (Scenario)

Genrish500 [490]

Answer:

d. adjourning

Explanation:

A group's disbanding is called the adjourning phase. The adjournment stage, created by Bruce Tuckman in 1977, is the fifth and final phase of group creation that takes place whenever a team concludes its work and then dissolves.

At around this point, it is crucial that team members get sufficient resolution and appreciation for the work they've done.

Remember that not all groups are going through a period of adjournment. If the team remains together for future projects, the adjournment stage of group growth would not go through.

5 0

3 years ago

14. Lassiter Industries has annual sales of $220,000 with 10,000 shares of stock outstanding. The firm has a profit margin of 7.

kakasveta [241]

Answer:

Price earning ratio is 16

Explanation:

Profit Margin = (Net profit / Net Sales) x 100

7.5% = Net profit / $220,000

Net Profit = $220,000 x 7.5%

Net Profit = $16,500

Earning Per share = $16,500/ 10,000 = $1.65 per share

Price-sales ratio = Market value / Sales value

1.20 = Market value / 220,000

1.20 x 220,000 = Share price

Share price = 264,000 / 10,000 =

Share price = 26.40

Price Earning Ratio = 26.40 / 1.65 = 16

8 0

3 years ago

Suppose that firm a dislikes hiring black accountants, while firm b is happy to hire them. so ted ends up working at firm b rath

egoroff_w [7]

Regardless of the firm, most companies will do at least a bi-annual audit if not quarterly. In this case Ted would do the same amount of audits for either company, two to four depending on the companies frequency.

6 0

3 years ago

Encouraging buyer feedback and focusing on creating value for the buyer are both key requirements for an effective _____. Group

german

Answer:

Sales Dialogue.

Explanation:

Feedback is an important strategic tool for the sales area.

Encouraging the buyer to provide feedback is an effective sales dialogue strategy, which focuses on creating value for the buyer, as creating value for a customer is related to the customer's ability to exercise his opinion about the product or the purchasing process, in addition to feeling valued and improving the perception of the company, which values the feedback of its customers.

In addition to creating value, feedback is a tool for correcting problems and processes resulting from a service or a product and service, which enables a company to correct possible errors found and improve the positive points observed in the analyzed feedbacks.

7 0

3 years ago

Formula for average inventory

morpeh [17]

The average of inventory is the average amount of inventory available in stock for a specific period.

To calculate the average of inventory, take the current period inventory balance and add it to the prior period inventory balance. Divide the total by two to get the average inventory amount.

6 0

3 years ago