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maks197457 [2]
3 years ago
9

On April 1, 9,000 shares of $7 par common stock were issued at $26, and on April 7, 5,000 shares of $70 par preferred stock were

issued at $108. Required: Journalize the entries for April 1 and 7. Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
Mariana [72]3 years ago
7 0

Answer:

Apr 1

DR Cash $234,000  

CR Common stock   $63,000

CR   Paid in capital in excess of par - Common Stock  $171,000

<em>(To record issuance of common stock)</em>

 

Apr 7

DR Cash $540,000  

CR Preferred stock   $350,000

CR Paid in capital in excess of par - Preferred Stock  $190,000

<em>(To record issuance of preferred stock)</em>

 

Explanation:

April 1

Cash

9,000 * 26 = $234,000

Common stock

9,000*7 = $63,000

April 7

Cash

5,000*108 = $540,000

Preferred stock

5,000*70 = $350,000

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Answer:

B. The time spent on the task

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3 years ago
Assume that Cane normally produces and sells 62,000 Betas and 82,000 Alphas per year. If Cane discontinues the Beta product line
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Answer:

Please find the complete question in the attachment.

Explanation:

\beta the margin of contribution unit= 130-25-22-17-14 \ \ \ \ \ \  \ \ \ \ \ \ \ \ \ \ \ \ \ =52

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8

Contribution losses =62000\times 42 \ \ \ \ \ \ \ \ \ \ \ \ = -2604000

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3 0
3 years ago
Nyeil is a consumer products firm that is growing at a constant rate of 6.5 percent. The firm’s last dividend was R3.36. If the
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Answer:

31.12

Explanation:

Given that,

Growing at a constant rate = 6.5%

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Expected dividend next year = 3.36 × (1 + 6.5%)

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The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summ
Fynjy0 [20]

Answer:

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