Ask question

Ask question

All categories

2 years ago

11

On January 2, 2016, Alpha Corporation procured new equipment with an issue of 5,000 shares of $4.00 par value common stock. The

equipment had an MSRP of $65,000. Alpha's stock was trading on the open market for $9.75 per share on January 2nd. Use this information to prepare the General Journal entry (without explanation) for the January 2 entry.

1 answer:

ruslelena [56]2 years ago

8 0

Answer:

The answer is

2 January

Dr: Equipment $48,750

Cr: ordinary shares $20,000

Cr: Paid in capital in excess

of par - ordinary shares $28,750

Explanation:

Cost of the equipment is:

5,000 shares x $9.75 per share

=$48,750.

Common stock (equity) is:

5,000 shares x $4.00 face value

=$20,000

Paid in capital in far more than par - ordinary shares is:

$48,750 - $20,000

=$28,750

2 January

Dr: Equipment $48,750

Cr: ordinary shares $20,000

Cr: Paid in capital in excess

of par - ordinary shares $28,750

You might be interested in

What are the two characteristics of public goods? is u.s. border control a public good or a private good? why? how about satelli

Cloud [144]

Two main characteristics of Public goods are that they are non-excludability and non-competitiveness. These characteristics make it difficult for market producers to sell their goods to the individual consumers. The Non-excludable means that it is expensive or impossible for users to exclude other users from using the product.

The US Border Patrol is a Public Good US Border Patrol is a public good because it is the non-competitive and non-exclusive. The Satellite TV is personal property. Equilibrium output is greater than efficient output when negative externalities exist in the market. Use the regulations that require firms to internalize external costs.

To learn more bout Public goods, click here.

brainly.com/question/14975509

#SPJ4

7 0

1 year ago

The National Chair Company manufacturers wooden chairs and sells them via their website. Their chairs are manufactured in a make

ludmilkaskok [199]

Answer:

The correct answer is letter "D": Flexible workforce.

Explanation:

Postponement manufacturing refers to a production process that delays the delivery of the product to the end-consumer. This is mostly applied by companies whose sales are based on customized orders. Therefore, before the products are sent to their owners they are personalized at their will. This method of work requires a flexible labor force since the wants of consumers from one order to the following.

6 0

2 years ago

Peter offers his manager some suggestions for a new holiday display. His manager shrugs his shoulders and tells Peter that the d

Sunny_sXe [5.5K]

Answer:

Equity Theory.

Explanation:

As Peter offers his manager some suggestions for a new holiday display. His manager shrugs his shoulders and tells Peter that the display is all set. Then Sarah approaches the manager with an idea for the display, and the manager tells her that it’s a great idea. Equity theory is the model of motivation that explains how Peter is striving for fairness and justice. Equity theory explains that employees should be treated equally and fairly in order to keep them motivated at the workplace. If employees started feeling that they not being treated fairly then they will dissatisfied and demotivated at the workplace which will definitely reduces their work productivity. Human beings are motivated when they are treated fairly and equally.

6 0

3 years ago

Dmitri lives in Detroit and runs a business that sells guitars. In an average year, he receives $701,000 from selling guitars. O

Black_prince [1.1K]

Answer:

EXPLICIT COST

The wholesale cost for the guitars that Dmitri pays the manufacturer

The wages and utility bills that Dmitri pays

IMPLICIT COST

The rental income Dmitri could receive if he chose to rent out his showroom

The salary Dmitri could earn if he worked as a financial advisor

Explanation:

Explicit cost: those which are actually incurred this means it represent accrued expenses or actual cash outlay.

Implicit cost: refers to the opportunity cost of a factor wasted opprtunity for weing deploy in the current project. These do not represent actual expenses but potential use of the factors

5 0

3 years ago

The article mentions that the storm's timing was important. Sandy struck on a Choose one: A. Monday B. Tuesday C. Wednesday D. S

alex41 [277]

Answer: A. Monday

Explanation:

In the article, <em>Storm keeping Millions From Work May Slow Economic Growth</em> by <em>Jeff Kearns</em>, he notes that the timing of Hurricane Sandy was important because Hurricane Sandy struck on a Monday which is the first day of work in the week for many. As a result they had to miss work for most working days which definitely had an impact on Economic output.

Had the Hurricane struck on the weekend then people would have missed less working days and so the effect on the Economy would have been less.

8 0

3 years ago