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Lera25 [3.4K]
3 years ago
13

Prepare journal entries to record each of the following four separate issuances of stock. A corporation issued 7,000 shares of $

10 par value common stock for $84,000 cash. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has a $2 per share stated value. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $55,000. The stock has no stated value. A corporation issued 1,750 shares of $50 par value preferred stock for $142,500 cash.
Business
1 answer:
marysya [2.9K]3 years ago
3 0

Answer:

The Journal entries are as follows:

(i) cash  A/c           Dr. $84,000

To Common stock, $10 par value      $70,000

To Paid-in capital in excess of par value, Common stock   $14,000

(To record the  issuance of stock)

(ii) Organization expenses  A/c           Dr. $55,000

To Common stock, $2 stated value                                    $7,000

To Paid-in capital in excess of stated value, Common stock   $48,000

(To record the  issuance of stock)

(iii) Organization expenses A/c    Dr. $55,000

To Common stock, no-par value                       $55,000

(To record the  issuance of stock)

(iv) Cash A/c                    Dr. $142,500

To Preferred stock, $50 par value[1,750 × $50)                  $87,500

To Paid-in capital in excess of par value, preferred stock  $55,000

(To record the  issuance of stock)

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Leh Inc. recently borrowed $275,000 from its bank at a simple interest rate of 9 percent. The loan is for nine months and, accor
Andreyy89

Answer:

Monthly payment =$32,618.05

Explanation:

<em>To arrive at the monthly installment, we would calculate the total interest due on the loan for nine months, add it to the principal and then divided the sum by 9 months</em>

<em>The monthly installment</em>

= (Principal + total interest for 9 months)/ number of months

<em>Interest for 9 months </em>

= 9%× 9/12 × 275,000

= $18,562.5

<em>Monthly installment</em>

= (275,000 + $18,562.5)/9

=32,618.05 per month

3 0
3 years ago
An oil refinery is located on the north bank of a straight river that is 3km wide. A pipeline is to be constructed from the refi
Mariulka [41]

Answer:

$6,598,076.21

Explanation:

<h2>THE KEY IS TO FIND OUT THE COST FUNCTION, the calculations are very easy!!!</h2><h2></h2><h3>In order to find the cost function, take a look at the drawing attached. </h3>

We can see the river (sort of) that is 3 km wide and the storage tanks on the other side of the river 8 km apart.

<h3 />

Laying pipes under (across) the river costs 1,000,000 the km & laying pipes over land costs 500,000 per km.

<h3 /><h3>So basically the cost function is 1,000,000 multiplied by something plus 500,000 multiplied by another something.</h3><h3 />

The distance across the river can be found by using Pythagoras Theorem. A side is 3 km the other is unknown, so we call it X. And it is equal to:

\sqrt{3^{2} +x^{2}}=\\\sqrt{9 +x^{2}}

And we multiply it by 1,000,000; the cost of laying pipe under the river, the we get:

1000000\sqrt{9+x^{2}

The distance over the land is (8-x), as we can see in the drawing. So we multiply it by its cost, 500,000. And we get 500,000(8-x).

So the cost function f(x) would be:

f(x)=1000000\sqrt{9+x^{2}} + 500000(8-x)

<h2>From here, we just have to differentiate and the derivative found must be equal to zero in order to minimize cost. </h2><h3>The value of x when the derivative is zero is plugged in the original function to get the cost.</h3><h3 /><h2>LET'S DO THIS</h2>

f(x)=1000000\sqrt{9+x^{2}} + 500000(8-x)\\f(x)=1000000(9+x^{2})^{1/2}+4000000-500000x\\f'(x)=\frac{1}{2} 1000000(9+x^{2})^{-1/2}(2x)-500000\\\\f'(x)=\frac{1000000x}{\sqrt{9+x^2}}  - 500000

<h2>f'(x)=0</h2>

f'(x)=\frac{1000000x}{\sqrt{9+x^2}}  - 500000=0\\\frac{1000000x}{\sqrt{9+x^2}}  = 500000\\\frac{2x}{\sqrt{9+x^2}}  = 1\\2x={\sqrt{9+x^2}}\\4x^2=9+x^2\\3x^2=9\\x^2=3\\x=\sqrt{3} \\

And we plug square root of 3 in the original cost function  ad we get

f(\sqrt{3} )=1000000\sqrt{9+x^{2}} + 500000(8-x)\\f(\sqrt{3})=1000000\sqrt{9+(\sqrt{3} )^{2}} + 500000(8-(\sqrt{3}))\\f(\sqrt{3})=1000000\sqrt{9+3} + 500000(8-(\sqrt{3}))\\f(\sqrt{3})=1000000\sqrt{12}+500000(6.27)\\f(\sqrt{3})=1000000(3.46)+500000(6.27)\\f(\sqrt{3})=3464101.62+3133974.60\\f(\sqrt{3})=6598076.21\\

<h2>so the minimal cost is $6,598,076.21</h2><h2 /><h3 />

6 0
4 years ago
Competition in a market system denotes a condition where A. the diffusion of economic power limits its potential abuse. B. any g
iragen [17]

Answer:

The answer is: A) the diffusion of economic power limits its potential abuse.

Explanation:

Ina market system, producers will be willing to offer what consumers are willing to pay. That means that consumers are "kings" if competition exists in a market. Consumers should be able to choose what product suits them best and satisfies their needs. A large number of suppliers guarantees more consumer satisfaction.

Problems start when competition starts to vanish and monopolies appear.

7 0
3 years ago
Operating profit is essentially a measure of how efficient management is in generating revenues and controlling expenses. True F
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Answer:

true

Explanation:

Operating profit is referred to as the profit gained by the corporation in business. it is calculated by subtracting all expenses from the total profit over the given period.

it is considered to be the best way to determine how management tactics are helpful or beneficial for the organization. it helps to decide on the working policy for future goals.

3 0
3 years ago
Jessica finds out that the government introduced a new trade policy that will increase import tariffs. She calls for a meeting o
Lynna [10]

Answer:

the meeting will be about telling them to watch out for the trades and stuff and and to not import the tarrifs

Explanation:

im not really sure but i hope this helps

8 0
3 years ago
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