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ElenaW [278]
3 years ago
11

Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of

$107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round answers to 0 decimal places, e.g. $1,225. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) enter an account title for case A
Business
1 answer:
RSB [31]3 years ago
3 0

Answer:

Answer for the question:

Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round answers to 0 decimal places, e.g. $1,225. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) enter an account title for case A

is given in the attachment.

Explanation:

Download pdf
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Which of the following can increase your credit card’s APR
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Paying off the full balance.

 As a guidelines, your Credit Card APR will be increased if you are responsible in paying all your credit and show that you are a good user.

3 0
3 years ago
What is a​ firm's gross​ profit? A. the difference between sales revenues and cash expenditures associated with those sales B. t
miv72 [106K]

Answer:

B. The difference between sales revenues and the costs associated with those sales

Explanation:

The amount of profit made by the company after deducting the total costs which have been incurred in the making and the selling of the product is said to be gross profit. The gross profit is calculated by subtracting the amount of revenue and the cost of the goods sold. Fixed cost is not included in the gross profit. It includes only variable costs.

7 0
3 years ago
_____ means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.
iragen [17]

Product Liability Law is the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.  

5 0
3 years ago
The price of a stock on February 1 is $84. A trader buys 200 put options on the stock with a strike price of $90 when the option
Andrews [41]

Answer:

The net loss of the trader amounts to $1,000, which means the correct option is A

Explanation:

The payoff is computed as:

Payoff = Strike price - Option's Stock price

where

Strike price is $90

Option's Stock Price is $85

Putting the values above:

Payoff = $90 - $85

= $5 per option

The trader bought 200 options, so the payoff would be:

Payoff = Options × Price per option

= 200 × $5

= $1,000

And the option cost would be:

Option cost = Options × Option Price

= 200 × $10

= $2,000

So, there computing net loss or gain as:

Net loss or gain = Payoff - Option cost

= $1,000 - $2,000

= $1,000 ( net loss)

Therefore, the correct option is A

7 0
3 years ago
Whether the minimum wage is a binding price floor always depends upon whether the economy is in a recession. a. True b. False
murzikaleks [220]

Answer:

false

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price

A country is in a recession when the GDP for 2 consecutive quarters is negative.

A binding price floor depends if it is above or below equilibrium

6 0
3 years ago
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