1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Svetach [21]
3 years ago
9

Beauty Island Corporation began operations on April 1 by issuing 60,000 shares of $5 par value common stock for cash at $13 per

share. On April 19, it issued 2,000 shares of common stock to attorneys in settlement of their bill of $27,500 for organization costs. In addition, Beauty Island issued 1,000 shares of $1 par value preferred stock for $6 cash per share.Journalize the issuance of the common and preferred shares, assuming the shares are not publicly traded. (Record journal entries in the order presented in the problem.)
Business
1 answer:
dlinn [17]3 years ago
3 0

Answer and Explanation:

The Journal entry is shown below:-

1. Cash  Dr, $780,000

(60,000 × $13)

Common Stock Dr, $300,000

(60,000 × $5)  

       To Paid-in Capital in Excess of par, Common Stock $1,80,000

(Being issuance of 60,000 shares at $13 per share is recorded)

2. Organization costs Dr, $27,500

      To Common Stock $5,000

(1,000 × $5)

        To Paid-in Capital in Excess of par, Common Stock $22,500

(Being issuance of 1,000 shares for attorney's fees is recorded)

You might be interested in
Unions and productivity In some industries, the labor productivity of union workers exceeds the labor productivity of nonunion w
MA_775_DIABLO [31]

Answer:

C. Because union wages exceed nonunion wages, employees may be encouraged to work harder.

D. Unions may provide information to companies about how to improve operations and eliminate problems in the work environment.

Explanation:

Workers' unions have been instrumental in ensuring that workers work in the environment that is safe and conducive. Not only that, the unions also ensure that the workers are remunerated fairly for their labor and services. Thus, the wages of the unioned workers are higher because unions bargain for the increase in the worker's wages.

Furthermore, the worker's union work hand in hand to exchange information about the conditions of the workers and how the companies can eliminate the potential problems that result in worker dissatisfaction. In addition, the unions protect workers from exploitation.  

4 0
3 years ago
If stock prices are expected to drop dramatically, then, other things equal, the demand for stocks will ________ and that of tre
SashulF [63]

Hello there

the answers are

decrease

and

increase

hope this helps


5 0
3 years ago
True or false the texas legislature is classified as highly professional, the highest level of institutionalization.
Phantasy [73]
<span>Your question lacks some context. So, I am going to assume that you are talking about relates to America as a whole. If my assumption is right, I'd have to say that the answer is false because they are at the state level and the federal level outranks it. For instance, if Texas passes a law abolishing a minimum wage, the law on federal minimum wage still must be followed.</span>
4 0
3 years ago
Shelia was abducted from a school football field, taken to a bank, and forced to withdraw money from an atm machine. afterward,
Law Incorporation [45]
The correct answer is
A. Football Field

The reason for this is because the football field is the place where she was abducted. Although other crimes were committed the beginning of the crime starts with her abduction.
4 0
3 years ago
The demand for textbooks is Q = 200 – P + 25 U – 50 P beer. Assume that the unemployment rate U is 8 and the price of beer P bee
Readme [11.4K]

Answer: -0.5

Explanation:

Based on the information given, the price elasticity of demand will be calculated as follows:

= dQ/dP × P/Q

where,

dQ/dP = -1

P = 100

Q = 200 – P + 25 U – 50 P beer

Q = 200 - 100 + 25(8) - 50(2)

Q = 200 - 100 + 200 - 100

Q = 200

Therefore, dQ/dP × P/Q

= -1 × (100/200)

= -1 × 1/2

= -1 × 0.5

= -0.5

The price elasticity of demand is -0.5.

4 0
3 years ago
Other questions:
  • When using the book value of equity, the debt to equity ratio for Luther in 2018 is closest to: A) 0.43 B) 2.29 C) 2.98 D) 3.57
    6·1 answer
  • Marlow Company purchased a point of sale system on January 1 for $6,300. This system has a useful life of 10 years and a salvage
    12·1 answer
  • Suppose taxpayers are given a one-time only rebate on previous taxes paid. If consumers spend all of their tax rebate checks, wh
    8·1 answer
  • During the year, Bassett Company paid a total of $58,000 for inventory. In one transaction, Bassett sold inventory that had cost
    12·1 answer
  • You are going to by a computer but first you want to do some research to help you select the best model for your needs where sho
    6·1 answer
  • Tech Solutions, Inc., a manufacturer of laptops, is considering a merger with Outtel, a leading producer of microprocessors and
    8·1 answer
  • One problem with using email is that
    9·1 answer
  • Government regulations allow a manufacturer of natural weight loss products to advertise:
    6·1 answer
  • How does online retail have the potential to further complicate the issues already presented by the virus?
    6·1 answer
  • The process of determining the present value of future cash flows in order to know their worth today is referred to as:______.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!