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WARRIOR [948]
3 years ago
11

Carson Packaging Corporation began business in 2018 by issuing 30,000 shares of $3 par common stock for $8 per share and 12,000

shares of 6%, $10 par preferred stock for par. At year end, the common stock had a market value of $12. On its December 31, 2018, balance sheet, Carson Packaging would report:_____.
A. Common Stock of $240,000.
B. Paid-In Capital of $90,000.
C. Common Stock of $90,000.
D. Common Stock of $360,000.
Business
1 answer:
Sloan [31]3 years ago
8 0

Answer:

The correct option is C, common stock of $90,000

Explanation:

The cash proceeds from the issue of common stock are $240,000.00 (30,000*$8).

The amount is further broken down into common stock  of  $90,000 ($3*30,000) and $150,000 ($240,000-$90,000) in  paid-in capital in excess of par value as at the time of the stock issuance.

The correct option as a result of the analysis above is C, common stock of $90,000

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What are the continuing costs of this apartment? Security Deposit $1,000 Application Fee $25 First Month’s Rent $850 Electricity
vekshin1
Answer= $1025 monthly (continuing costs)

Security Deposit $1,000
Application Fee $25
First Month’s Rent $850 $850
Electricity $80 per month; 80
$40 to connect and $100 deposit
Telephone approximately $60 per month; 60
$40 to connect Water $35 per month; 35
a deposit of $50. ____
$1025
6 0
3 years ago
Under the FLSA, regular rate of pay does not include: A. vacation pay. B. severance pay. C. overtime pay. D. earned bonuses. E.
Galina-37 [17]

Answer:

The correct answer is A

Explanation:

FLSA stands for Fair Labor Standard Act, which is defined as the act that usually requires, the covered non- exempt employees to receive the overtime pay, at least 1 and 1/2 times of their regular pay for the time they worked in excess of the 40 hours per week of the work.

The regular rate is defined as the remuneration which involves all the employment remuneration that are subject to the exclusions mentioned in the Section 7 under sub section (e) of the FLSA.

So, the vacation pay is the one which is not involved in the regular rate as any time earned gained over 40 along with the vacation is the straight time which will not be paid.

5 0
3 years ago
A portfolio consists of $15,200 in Stock M and $23,400 invested in Stock N. The expected return on these stocks is 8.90 percent
bonufazy [111]

Answer:

Portfolio return = 11.08%

Explanation:

<em>The expected return on the portfolio is the weighted average return of all the different stocks making up the portfolio. The weight of the individual stock would be the relative amount invested in each stock as a proportion of the total fund invested.</em>

The expected return can be determined as follows

Weighted of stock A= 15,200/(15200+23400)=0.39

Weight of stock B = 23.400/((15200+23400)=   0.61  

Expected return on portfolio = (0.39 ×8.90% )  + (0.61*12.50%)= 11.08 %

8 0
3 years ago
An example of an externality is the impact of
stepan [7]
Increases in health care costs on the health of individuals in society.
8 0
3 years ago
Vijay Inc. purchased a three-acre tract of land for a building site for $250,000. On the land was a building with an appraised v
mart [117]

Answer:

$264,930

Explanation:

Land is an asset, an item of property plant and equipment (fixed asset). As such it is recorded at historical cost which includes the cost of the land as well as other cost incurred in making the land available for use net of the income generated in the process of making the asset available for use. Other cost may have been incurred in the process of purchasing the land but only the cost necessary to make the land available for use are capitalized.

Hence, the capitalized cost of the land is:

= $250,000 + $12,600 - $1,690 + $540 + $3,800 - $320

= $264,930

The cost of insurance will be expensed.

3 0
3 years ago
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