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Dima020 [189]
3 years ago
13

Niren, Inc.'s charter authorizes 1,000,000 shares of stock at a par value of $1 per share. Niren sells 100 shares of stock at it

s initial offering for $1 per share. The journal entry to record this transaction will include a_________.
Business
1 answer:
andrew-mc [135]3 years ago
6 0

Answer:

Dr Cash account 100

Cr Common Stock account 100

Explanation:

When a company sells stock they must record the value of the stock sold at par value in the common stock account. Any extra money received should go to the capital paid-in excess of par value account.

In this case, Niren sold 100 shares at par value ($1), so $100 should be recorded in the common stock account.

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Last year Attic charged $2,334,667 Depreciation on the Income Statement of Andrews. If early this year Attic purchased a new dep
olga nikolaevna [1]

Answer:

Note: The correct option is a. Increase Net Cash from operations.

Explanation:

Note: This question is not complete as the options are omitted. The options are therefore provided to complete the question before answering the question as follows:

a. Increase Net Cash from operations

b. Decrease Net Cash from operations on the Cash Flow Statement

c. No impact on Net Cash from operations

d. Just impact the Balance Sheet

The explanation of the answers is now provided as follows:

Since the assets was purchased early in the year, depreciation will be charged on it in the income statement for the year at the end of the year. Since depreciation is a non-cash item, it will added back to the net income in the indirect Cash Flow Statement method as one of the adjustments to the net income under the Cash from operations. This adding back of the depreciation will therefore lead to an Increase Net Cash from operations.

Therefore, the correct option is a. Increase Net Cash from operations.

6 0
2 years ago
One year ago, you purchased a stock at a price of $43.20 per share. The stock pays quarterly dividends of $.18 per share. Today,
gizmo_the_mogwai [7]

Answer:

Capital gain = $2.16

Explanation:

The return on equity is the sum of the dividends earned and capital gains made during the holding period of the investment.  

Dividend is the proportion of the profit made by a company which is paid to shareholders.  

Capital gains is another type of the return made on an equity investment as a result of increase in the value of the shares. It is difference between the cost of the share and the value at the time of disposal.  

Therefore, capital gain  as follows:  

Capital gain = $45.36-43.20

Capital gain = $2.16

8 0
3 years ago
¿Que es una fuente luminosa?
GrogVix [38]
Light sources are laser lamps and leds
6 0
2 years ago
Sansa, Cercei, and Tyrion have just finished their team's project and are waiting for their supervisor's feedback. Cercei has be
Gnoma [55]

Answer:

Cercei's mood would be categorized as:

negative activated.

Explanation:

Moods do not last longer than emotions.  Like Cercei's that unengaged and quiet mood during the project duration, it starts and ends within some period of time.  However, a person's mood can be described as either negative or positive.  Since Cercei's mood was negative from the commencement of the project to its ending, one can conclude that she activated her negative mood during the period.

4 0
3 years ago
Breakmorning Corporation produces a product that requires 2.6 pounds of materials per unit. The allowance for waste is 0.3 pound
Rasek [7]

Answer:

Total= $4.33

Explanation:

Giving the following information:

Breakmorning Corporation produces a product that requires 2.6 pounds of materials per unit. The allowance for waste is 0.3 pounds; the allowance for spoilage is 0.1 pounds. The purchase price is $4 per pound, but a 2% discount is always taken. Freight costs are $0.15 per pound and receiving and handling costs are $0.10 per pound.

Purchase price= 4*0.98= 3.92

Allowance for waste= (0.03*3.92)= 0.1176

Allowance for spoilage= (0.01*3.92)= 0.0392

Freight= 0.15

Receiving and handling= 0.10

Total= $4.33

4 0
2 years ago
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