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Nata [24]
3 years ago
14

A corporation issued 100 shares of its $5 par value common stock in payment of a $1,800 charge from its accountant for assistanc

e in filing its charter with the state. The entry to record this transaction will include:
Business
1 answer:
KIM [24]3 years ago
3 0

Answer:

A $1,300 Credit to Paid in Capital in excess of par Common stock.

Explanation:

Common Stock value=Shares* Par value per share

Common Stock=100*$5

Common Stock=$500.

First we will prepare journal Entry:

Account                                    Debit                                Credit

Organization Expense              $1,800

Common Stock                                                                 $500

Paid in Capital in excess                                                  $1,300

of par Common stock.

So Correct option is:

A $1,300 Credit to Paid in Capital in excess of par Common stock.

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Jodi is retiring at the age of 65. When she retires, she estimates that she will need a monthly income for 25 years. If Jodi sta
sergejj [24]

Monthly income refers to the gross countable income received or projected to be received during the subsequent month.

<h3>Interest compounded monthly</h3>

Given Information:

  • Principal = 328,133.32
  • Interest rate = 6.2%, compounded monthly
  • Term = 25 years

A = P (1 + r/n)^nt

A = 328,133.32 (1 + 6.2%/12)^12*25

A = 328,133.32 (1 + 0.0052)^300

A = 328,133.32 (1.0052)^300

A = 328,133.32 (4.74)

A = 1,555,351.94  Total value after 25 years.

=1,555,351.94 / 300 months = 5,184.51 per month.

Learn more about monthly income, refer to the link:

brainly.com/question/24685812

4 0
2 years ago
Investment companies or mutual funds that continue to sell and repurchase shares after their initial public offerings are referr
Furkat [3]

Answer:

Open end

Explanation:

Open end otherwise known as mutual fund are those investments offered through fund companies which sells shares directly to investors. In an open end fund investment, there is no limit to the number of shares that can be offered therein. The shares traded are unlimited which means that shares can be issued in as much can be backed up with funds.

The prices for open end funds are fixed once daily which shows the performance of the investment for that day hence the only price at which investment shares can be bought for that day.

5 0
3 years ago
What is the smallest level at which life may exist
DerKrebs [107]
CELL is the smallest level.........
6 0
3 years ago
Powder room mess. for $300,000, willis agrees to build a new home for robert, who is very picky. willis builds the home to rober
irga5000 [103]

These types of damages are called “Compensatory damages”.

<span>Willis breached the contract but the breach was not material. So as a way to compensate for the damages Willis have made, he offered instead to pay $300 to put the correct faucets and linoleum in the powder room.</span>

5 0
3 years ago
Read 2 more answers
It is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit e
Wittaler [7]

Answer: True

Explanation:

Marginal benefit is the maximum amount that a consumer will be willing to pay for an extra product. It should be known that as consumption rises, the marginal benefit starts reducing.

The marginal cost is the extra cost that a producer incurs when an extra unit of a product is made. Economic decisions made by economic agents are typically based on marginal as it'll be possible to know the impact of an extra decision made on a variable.

Therefore, it is better to evaluate economic decisions at the marginal, where the decision has to be made as long as its marginal benefit exceeds its marginal cost, if not equal to its marginal cost.

4 0
3 years ago
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