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astra-53 [7]
3 years ago
11

Foghorn Company entered into a sales transaction in which it agreed to receive common stock from Leghorn Corporation as payment

for services provided to Leghorn Corporation. The journal entry to record the receipt of payment for the sales transaction will include a
Business
1 answer:
Sedbober [7]3 years ago
8 0

Answer:

The journal entry should be:

Dr Investment in Leghorn Corporation XX

    Cr Accounts receivable XX

Explanation:

Foghorn Company must record the noncash payment as an asset which should be equal to the amount of money that it generally would have collected from the services provided. Since the payment is done through stocks, it must record that collection as an investing account.

Since transferring stocks usually takes a couple of days at least, the original journal entry should have recorded a debit to accounts receivable and a credit to service revenue.

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Standard Direct Materials Cost per Unit from Variance Data The following data relating to direct materials cost for October of t
statuscvo [17]

Answer:

The standard cost is $5 per lbs

each units uses 2 lbs, so the unit stadard cost is $10

Explanation:

Volume variance

(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: efficiency \: variance

std quantity                   2800.00  (1,400 units times 2 pounds per unit)

actual quantity           3000.00

std cost                                     ??

(2,800-3,000) \times standard \: cost = -1,000

difference                     -200.00

efficiency variance        $(1,000.00)

-200 x Std cost = -1,000

Standard cost = -1,000/-200 = 5

The standard cost is $5 per lbs

each units uses 2 lbs, so the unit stadard cost is $10

3 0
3 years ago
If ________ fails and cannot pay its​ liabilities, creditors can force the owners to pay the​ business's debts from the​ owners'
Gwar [14]

Answer:

partnership; least

Explanation:

In partnership, two or more people join together to form a firm called partnership firms for the motive of earning profits. The partners have unlimited liability which means they are responsible for meeting debt from their personal assets in case partnership defaults.

This feature of partnership offers assurance to the creditors that their investment is safe.

So, if partnership fails, the least an investor can expect to lose on his investment.

6 0
3 years ago
1. A public relations manager plans to delegate crisis communications responsibilities to a subordinate. What characteristic wil
pashok25 [27]

The characteristic that the manager needs to assess of the subordinate prior to delegating responsibilities is:

  • Performance readiness

The type of leadership training that is being provided by the human resource director is:

  • Situational

<h3>What is Situational Leadership?</h3>

Situational leadership is seen when a manager delegates tasks based on the performance readiness of his staff.

The performance readiness in this case combines the ability of the person receiving the task and their willingness to execute the assigned task.

Learn more about situational leadership here:

brainly.com/question/14564324

#SPJ1

8 0
2 years ago
Jenny Enterprises has just entered a lease agreement for a new manufacturing facility. Under the terms of the agreement, the com
LiRa [457]

Answer:

$1,107,793.41

Explanation:

The value of the payment today can be ascertained using the present value of an annuity due formula since the first payment is immediate as shown thus:

PV=monthly payment*(1-(1+r)^-n/r*(1+r)

monthly payment=$12,500

r=monthly interest rate=6.48%/12=0.0054

n=number of monthly payments in 10 year=10*12=120

PV=$12,500*(1-(1+0.0054)^-120/0.0054*(1+0.0054)

PV=$12,500*(1-(1.0054)^-120/0.0054*(1.0054)

PV=$12,500*(1-0.524003627 )/0.0054*1.0054

PV=$12,500*0.475996373 /0.0054*1.0054

PV=$1,107,793.41

6 0
2 years ago
James Corporation is planning to issue bonds with a face value of $505,500 and a coupon rate of 6 percent. The bonds mature in 7
mart [117]

Answer:

4%=$566,697.09  

6%=$505,500

8.5%=$ 439,842.50  

Explanation:

The issue price of the bond can be computed using the pv formula in excel spreadsheet as below:

=-pv(rate,nper,pmt,fv)

the rate is the market of 4% divided by 2

nper is the number of semiannual interest the bonds would pay which is 7 years multiplied by 2 i.e 14

pmt is the semiannual coupon interest on the bond,which is $505,500*6%*6/12=$15165

fv is the face  value repayable on redemption which is $505,500

for market rate of 4%

=-pv(2%,14,15165 ,505500)=$566,697.09  

for market rate of 6%

=-pv(3%,14,15165 ,505500)=$ 505,500.00  

for market interest of 8.5%

=-pv(4.25%,14,15165 ,505500)=$ 439,842.50  

5 0
3 years ago
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