1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
juin [17]
3 years ago
11

Prepare the journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares s

ell for: $5 cash per share. $6 cash per share.
Business
1 answer:
eduard3 years ago
4 0

Answer:

The journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share would be                    

                    Debit       Credit

Cash           $330,000

Common stock             $330,000

The journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares sell for $6 cash per share would be        

                                                             Debit               Credit

Cash                                                    $396,000

Common stock                                                        $330,000

Paid in capital in excess of par value                      $66,000

Explanation:

The journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares sell for $5 cash per share would be as follows:

                    Debit       Credit

Cash           $330,000

Common stock             $330,000

Par values of the share of common stock=$66,000*5

Par values of the share of common stock=$330,000

The journal entry would be prepared by debiting cash and crediting common stock by $330,000

The journal entry to record Zende Company’s issuance of 66,000 shares of $5 par value common stock assuming the shares sell for $6 cash per share would be as follows:

                                                             Debit               Credit

Cash                                                    $396,000

Common stock                                                        $330,000

Paid in capital in excess of par value                      $66,000

cash=66,000*$6

cash=$396,000

Common stock=$66,000*5=$330,000

Paid in capital in excess of par value=$396,000-$330,000=$66,000

You might be interested in
Even though Kelly did not actively post the leaked information on social media, Don and the rest of the management team decided
yuradex [85]

Answer:1.Even though Kelly did not actively post the leaked information on social media, Don and the rest of the management team decided she was still responsible for the social media infringement because she

a.told someone information which led to the social media post.

2.In the case of Serena’s social media complaints about the company, Don says the key is that, though her comments did not put the company in a good light, there are important lines she did not cross. ________, racial bias, and foul language are the three examples he cites that would beinfringements on company social media policies.

a.Hate speech

3.What is Don’s response when Kelly tells him that the assistant manager labelled social media training a “low priority”?

a.He makes a note to make sure it’ll never happen again.

4.When Kelly continues to argue against the decision to let her go, Don tells her that he is sorry to see her go and that he will give her the best reference he can under the circumstances. Here, what is his strategy for managing this difficult confrontation?

a.showing empathy for the employee

5.After the confrontation with Kelly, Don says that one thing that did not help the decision to let Kelly go was that she refused to take ________ for the social media violation.

a.responsibility

Explanation:

6 0
3 years ago
The WPC Sports Company has noted that the size of individual "customer order" is normally distributed with a mean of $100 and st
nikdorinn [45]

Answer:

Standard error of the mean = 3

Explanation:

Given:

Mean Distribution = $100

Standard deviation = $12

Total number of player = 16 player

Standard error of the mean = ?

Computation of standard error of the mean:

Standard error of the mean = Standard deviation / √ Total number of player

Standard error of the mean = 12 / √16

Standard error of the mean = 12 / 4

Standard error of the mean = 3

7 0
3 years ago
A​ check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks
BaLLatris [955]

Answer:

Forecast for the month of July = 41,600,000 Checks

Explanation:

The question is determine the forecast for the month of July for the Check Processing Center

first, what is the forecast for June= 42 Million Checks also called Fjune

Actual checks received in June = 40 million checks also called Ajune

The smoothing constant is 0.2

Hence, the forecast for July known as the Fjuly

= a x Ajune + (1-a) x SFune

=  0.2 x 40,000,000 + (1-0.2) x 42,000,000

= 8,000,000 + 33,600,000

Forecast for the month of July = 41,600,000 Checks

3 0
3 years ago
Enter mia's total profit/loss for the month in the box below then click submit
o-na [289]

Answer:

350

Explanation:

Add 9000 + 200 = 9200

Then you do 9550 - 9200 = 350

4 0
3 years ago
The following are transactions and events of the general fund of Sycamore Hospital, a not-for-profit entity, for the 20X6 fiscal
BigorU [14]

Answer:

1. Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Dr Cash 6,455,000

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

8. Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

Explanation:

Preparation of the Journal entries for Sycamore Hospital.

1. Since we were told that the company Provided a total of the amount of $6,600,000 in patient services this means that the transaction will be recorded as:

Dr Accounts receivable 6,600,000

Cr Patient services revenue 6,600,000

2. Based on the information given we were told that the company had total operating expenses of the amount of $5,998,000 which means that the transaction will be recorded as:

Dr Nursing services expense 2,100,000

Dr Other professional services expense 1,280,000

Dr Fiscal services expense 230,000

Dr General services expense1,520,000

Dr Bad debts expense 138,000

Dr Administration expense250,000

Dr Depreciation expense 480,000

Cr Cash 4,794,000

Cr Allowance for uncollectibles 138,000

Cr Accumulated depreciation 480,000

Cr Accounts payable 213,000

Cr Inventory 210,000

Cr Donated services 163,000

3. Since we were told that Allowed contractual adjustments was the amount of $210,000 which is a deductions from gross patient revenue, which means that the transaction will be recorded as:

Dr Patient services revenue210,000

Cr Accounts receivable210,000

4. Based on the information given we were told that the company received a transfer of the amount of $200,000 for the payment of approved operating costs which means that the transaction will be recorded as:

Dr Cash 200,000

Cr Net assets released from program use restrictions 200,000

5. Since the company received a transfer of the amount of $230,000 from the temporarily restricted plant fund in order to purchase new equipment for the hospital, this means that the transaction will be recorded as:

Dr Cash 230,000

Cr Net assets released from equipment acquisition restriction 230,000

6.Since the company received the amount of $150,000 of unrestricted gifts, this means that the transaction will be recorded as;

Dr Cash 150,000

Cr Contributions-Unrestricted 150,000

7. Since the company collected accounts receivable except for the amount of $65,000 which was written off, this means that the transaction will be recorded as:

Dr Cash 6,455,000

(6,390,000 +65,000)

Cr Allowance for uncollectibles 65,000

Cr Accounts receivable 6,390,000

(6,600,000-210,000)

8. Based on the information given we were told that the company reported the amount of $90,000 as an increase in the market value, this means that the transaction will be recorded as:

Dr Investment securities 90,000

Cr Unrealized holding gain on investment securities 90,000

8 0
3 years ago
Other questions:
  • Who is the first level supervisor in the fire department? intro to fire protection?
    11·1 answer
  • Sheffield Corp. produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statemen
    8·1 answer
  • _____ offer goods to business customers. These business customers are too small to merit a sales call from the distributor s rep
    7·1 answer
  • Your company is considering two mutually exclusive projects. Project A has an initial cost of $80,000 and generates expected cas
    11·2 answers
  • Baker Inc. acquired equipment from the manufacturer on 10/1/2018 and gave a noninterest-bearing note in exchange. Baker is oblig
    9·1 answer
  • By themselves, ________ do not measure the financial performance of an ad campaign. But they are useful for evaluating many of t
    7·1 answer
  • Refer to the following trial balance. ​ Debit Credit Cash $19,000 ​ Accounts Receivable 40,000 ​ Merchandise Inventory 62,000 ​
    12·1 answer
  • dministrative and selling expenses, and depreciation expenses were $454,000, $99,000, and $144,500, respectively. In addition, t
    9·1 answer
  • McKean Corporation authorized 500,000 shares of common stock in its articles of incorporation. On May 1, 2019, 100,000 shares we
    7·1 answer
  • Which of the following is the most profitable investment for a candy shop that earns $1 profit per pound of candy? (5 points) Gr
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!