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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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On January 1, year 1, a company grants 5,000 nonqualified stock options to an employee with a strike price of $3 per option and
Sedaia [141]

Answer:

$8,000

Explanation:

The following compensation cost shall be recognised in the accounts of the Company as at December 31, Year 1 in respect of employee share options:

5,000*8*1/5=$8,000

In the above calculation, 5000 represents number of share granted to employee,8 represent the fair value of the option at the grant dated and 1/5 represent first year of the 5-year requisite service condition for the exercise of share options.

4 0
3 years ago
Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal
Harrizon [31]

Answer:

C. 1,500

Explanation:

Credit Sales x 3%

$50,000 x 0.03 = $1,500

8 0
2 years ago
The consumer sales promotion that involves the use of a brand-name product in a movie, television show, video game, or a commerc
Marianna [84]

Answer:

The answer is option (C) product placement.

Explanation:

Product placement is a strategic advertising technique in which companies, firms and businesses subtly promote their products or brands through a non-traditional advertising technique such as appearance of the product or brand in films, video games, movies, television show or a commercial for another product.

In other words, companies, firms and businesses are said to have carried out product placement when they pay for their products or brands to appear or to be featured in films, video games, movies, television show or on a commercial for another product.

8 0
3 years ago
While shopping at the mall, Jane was asked by one of the sales representatives at the cosmetics counter to try out a new lipstic
gavmur [86]

Answer:<u><em> Fair price </em></u><em>is the type of a reference price that Jane is using.</em>

Here, Jane is of the opinion and how she pursues the price of the commodity in the market .i.e.  fair price is the quantity of money that it you pursue to be sensible for a commodity.

6 0
3 years ago
The purpose of the general journal is to show accounting events in their __________ sequence.
Valentin [98]

Answer:

Chronological

Explanation:

For accounting day to day business transactions, there is a proper sequence of accounting cycle i.e.

1. Transactions

2. Journal entries

3. ledger posting

4. Trial balance

5. Worksheet

6. Journal entries i.e. adjusted

7. Financial statements

8. Books closing

So it would be chronological

7 0
3 years ago
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