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Nataly_w [17]
3 years ago
7

Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price

of $90,000. If the current market value of the stock is $75 per share, how should Felix journalize this transaction?
Business
1 answer:
Anna11 [10]3 years ago
7 0

Answer:

Dr Land account 90,000

Cr Preferred Stock account 81,250

Cr Paid-in Capital in Excess of Par Value - Preferred Stock account 8,750

Explanation:

When preferred stock is sold, the transaction must be recorded at par value in the preferred stock account. Any amount of money received over par value, must be recorded in the paid-in capital in excess of par value - preferred stock account.

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Mr. Hamid is running his small retail business under the name of Hamid Store. He has recently hired Mr. Imran as a junior accoun
zloy xaker [14]

1) ERROR OF PRINCIPLE

2) Rs. 500,000/-.

3) 14,40,000

4) Profit=2,00,000

Explanation:

1)

Error Committed by Mr. Imran is "ERROR OF PRINCIPLE" . Error of Principle Means a transaction which is not in accordance with Generally accepted accounting principle( GAAP). In this case Mr. Imran has wrongly debited to revenue expenditure instead of debiting to Plant and machinery.

2)

The assets side of Balance sheet is understated by Rs. 500,000/-.

3)

Fixed Assets correct amount= Fixed assets before correcting the errors + installation charges

=9,40,000+5,00,000

=14,40,000

4)

Correct Profit= Profit/(loss) Before correcting the error+Installation Charges

Profit= (3,00,000)+5,00,000

Profit=2,00,000

8 0
3 years ago
The approach to estimating project time and cost that begins with an overall estimate for the project and then refines estimates
densk [106]

Answer:

phase estimating method

Explanation:

The approach to estimating project time and cost that begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented is known as PHASE ESTIMATING METHOD

The above statement is based on the fact that PHASE ESTIMATING METHOD is applicable whereby the total estimate of a product life cycle is extremely difficult to ascertain.

Instead, to get the estimate, each elemental stage is estimated one after the other, with the immediate stage having an elaborate estimate, while the subsequent stages having a brief or overview estimate.

5 0
2 years ago
Don wanted to incorporate his business and liked the attributes of an S-corporation, however, he did not feel the eligibility re
Wewaii [24]

Don wanted to incorporate his business and liked the attributes of an S-corporation, however, he did not feel the eligibility requirements would work for his purposes. He is likely to choose to form a sole proprietorship company.

<h3>What is a sole proprietorship?</h3>

A sole proprietorship is an individual entrepreneurship or an individual owned. It runs by one person and in which there is no separation between the owner and the business.

Therefore, Don wanted to incorporate his business and liked the attributes of an S-corporation, however, he did not feel the eligibility requirements would work for his purposes. He is likely to choose to form a sole proprietorship company.

Learn more on sole proprietorship from brainly.com/question/1133410

5 0
2 years ago
Susie buys a share of Alphabet stock through her broker, Mr. Diaz, who works for Acme Investing and purchases the stock at the N
Andrew [12]

Answer:

Alphabet stock; Acme Investing; New York Stock Exchange.

Explanation:

Susie buys a share of Alphabet stock through her broker, Mr. Diaz, who works for Acme Investing and purchases the stock at the New York Stock Exchange. In this transaction, Alphabet stock is a financial instrument, Acme Investing is a financial institution, and New York Stock Exchange represents a financial market.

Financial instruments can be defined as assets which are having monetary value or used to record a monetary transaction. Financial instruments are generally classified on the basis of their risks, maturity, issuers etc. Some examples of financial instruments are stocks, treasury bills, commercial paper, money market mutual fund, certificate of deposits, corporate bonds etc. The market where these financial instruments (securities and derivatives) are being traded at a low transaction rate is referred to as the financial market.

Furthermore, financial institutions can be defined as a business firm or company that is involved in the business of trading financial instruments.

6 0
3 years ago
To enable remarketing in Google Analytics, what must first be enabled? A) Advertising Reporting Features B) Demographics and Int
Sauron [17]

Answer:

A. Advertising Reporting features and

C, Google Ads or display & video 360 account.

Explanation:

To enable re-marketing of google analytics, the first thing to enable is the advertising reporting features. This can be done by modifying your property settings or tracking code. This allows analytics to collect more information on web activity.  

Google Ads or display is a way of advertising online to increase one's  marketing efforts while video 360 account is a tool that assists creative or media or advertisement teams to successfully advertise.

I hope this helps.  

7 0
3 years ago
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