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Allushta [10]
3 years ago
9

During its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to sharehol

ders’ equity. The articles of incorporation authorized the issue of 8 million common shares, $1 par per share, and 1 million preferred shares, $50 par per share.
Prepare the appropriate journal entries.
Business
1 answer:
andrey2020 [161]3 years ago
3 0

Answer:

Common Share

Dr. Cash                    $8,000,000

Cr. Common Stock   $8,000,000

Preferred Share

Dr. Cash                    $50,000,000

Cr. Preferred Stock   $50,000,000

Explanation:

Shares issued are recorded as the common stock and preferred stock because both of these are issued at par in the first year of operation.

It is issued that the shares are actually issued and cash is received against both shares.

Cash debited because it is an asset account and asset account has debit balance.

Common stock and Preferred stock are the equity accounts so, these accounts are credited because equity have a credit nature.

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Team bonding through the subjugation of junior members is not valid. Junior members should be encouraged by the senior members to strive for the team, not belittled or humiliated in the process. Different people assume comradery in different ways, some through degradation or laughter, and others through positivity and cohesiveness, but subjugation and humiliation should never be a factor when building teams, especially in today’s society since we live in such a diverse culture in this country. If an organization relied on humiliating banter in order to form a collective unit, then it shows that the organization is less cohesive and reflects poor management and leadership skills within the organization.
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4 years ago
Depreciation by Two Methods
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The amount of annual depreciation by the straight-line method is $18,800.

<h3>Annual depreciation</h3>

a.  Annual depreciation

Annual depreciation=[($80,000 - $4,800) ÷ 4]

Annual depreciation=$18,800

b. Annual depreciation

Year 1 Annual depreciation= 10% × $80,000

Year 1 Annual depreciation = $8,000

Year 2 Annual depreciation= 10% × ($75,000 - $7,500)

Year 2 Annual depreciation = $7,520

Therefore the amount of annual depreciation by the straight-line method is $18,800.

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2 years ago
Indicate whether the following statements are positive or normative. a. Raising interest rates encourages people to save: b. The
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a. Raising interest rates encourages people to save: positive statement

b. The government ought to be more concerned with reducing unemployment: normative statement

c. The government should raise the tax on tobacco to discourage people from smoking: normative statement

d. The government should limit immigration: normative statement

e. Increasing gasoline taxes results in less disposable income: normative statement

f. The government should raise gasoline taxes and fix bridges: normative statement

<h3>What are normative and positive statements?</h3>

Normative statements come from a viewpoint or an opinion. As a result, the terms "should," "ought," or "it is preferable to" are commonly used. Normative statements can never be proven to be true.

Conversely, positive statements can often be put to the test in theory, if not always in practice. Positive statements are not value judgments. They are predictions of what it is, was, or will become.

Thus, option A is a positive statement and rest are normative statements.

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2 years ago
In a production application involving a fixed setup cost and a variable cost, the use of __________ makes including the setup co
IRISSAK [1]

Answer:

The correct answer is binary variables.

Explanation:

A binary variable is one that can only have two possible values. They generally fulfill two essential characteristics:

1. They are made up of two exhausting values, which indicates that there is no other possibility of response. For example, a person is female or male.

2. Both values of the variable are exclusive, that is, it is not possible that both responses can be given, only one. In the same example above, a customer cannot be a woman and a man at the same time.

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3 years ago
When the dollar "falls" compared to other currencies, which group benefits the most?
AURORKA [14]
<span>Foreign companies and investors benefit the most from a falling dollar. When the amount that a dollar can buy depreciates, it becomes more expensive, relatively, to purchase foreign goods. In addition and because of this depreciation, it also becomes relatively less expensive for foreign investors to purchase domestic goods, which means that foreign companies can buy more from US-based businesses.</span>
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4 years ago
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