Answer:
Journalize the transactions is given below
Explanation:
given data
Issued = 66,500 shares
cash = $6 per share
Issued = 41,500 shares
cash = $8 per share
solution
we get here Journalize the transactions
and we assuming that the common stock has a par value of $6 per share
so
Jan. 10 cash is 66,500 × 6 = 399000
and cash for July 1 is = 41,500 × 8 = 332000
and common stock = 41,500 × 6 = 249000
paid in capital excess = 332000 - 249000 = 83000
Date Account Titles Debit Credit
Jan. 10 cash 399000
common stock 399000
July 1 cash 332000
common stock 249000
paid in capital excess 83000
Answer:
c. Debit to Cash and a credit to Merchandise Inventory
Explanation:
When a buyer returns goods these are return outwards,
The correct entries to record them would be to debit cash as goods have been returned and credit the merchandise purchased so,
Debit cash account with the amount of goods returned
Credit Merchandise inventory with the amount of goods returned.
Hope that helps.
Answer:
One of the most important disadvantages of excess inventory is the loss of revenue. Products depreciate over time and lose their initial value. So the longer you hold a product, the cheaper it gets.
Answer:
a. How are price and quantity demanded related?
b. How should the government deal with the next recession?
Explanation:
A positive question is the kind of question the answer of which is simply yes or no. They ask about how one thing is rather than how something should be.
In above question, there are two questions which fall in the category of positive questions because of the way they are formed and what they are asking.
Hello there.
<span>The Accounts Receivable account has total debit postings of $1,900 and credit postings of $1,100. The balance of the account is a/an
Answer: </span><span>A. $800 debit.
</span>
