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
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.

You might be interested in
You purchased 100 shares of IBM common stock on margin at $130 per share. Assume the initial margin is 50%, and the maintenance
N76 [4]

Answer:

$46.43

Explanation:

Calculation for Below what stock price level would you get a margin call

First step is to calculate the Loan amount

Loan amount=(100 shares × $130 × 0.5

Loan amount= $6,500 × 0.5 = $3,250

Now let calculate Stock price level

0.30 = (100P $3,250)/100P

30 - P = 100P - $3,250

30-100P= - $3,250

-70P = -$3,250

P=$3,250/70

P = $46.43

Therefore Below what stock price level would you get a margin call will be $46.43

7 0
2 years ago
Merger Co. has 10 employees, each of whom earns $2,250 per month and has been employed since January 1. FICA Social Security tax
Elis [28]

Answer:

March 31

Dr. Payroll Tax Expense: 3071.25

Cr. FICA- Social security taxes payable:

1395

Cr. FICA- Medicare taxes payable:

326.25

Cr. SUTA-State unemployment taxes payable:

1215

Cr. FUTA- Federal unemployment taxes payable: 135

Explanation:

March 31

Dr. Payroll Tax Expense: 3071.25

Cr. FICA- Social security taxes payable:

(6.2%×$2,250) 1395

Cr. FICA- Medicare taxes payable:

(1.45%×$2,250) 326.25

Cr. SUTA-State unemployment taxes payable:

(5.4$×$2,250) 1215

Cr. FUTA- Federal unemployment taxes payable: (0.6%×$2,250) 135

3 0
3 years ago
Which of the following topics would not appear in a company policy handbook?
icang [17]
A. online job sites 
because most company handbooks have performance reviews, medical ad family leave and standards of conduct. 
8 0
3 years ago
Read 2 more answers
Makers Corp. had additions to retained earnings for the year just ended of $261,000. The firm paid out $194,000 in cash dividend
gladu [14]

Answer:

a. $3.5 per share

b. $1.49 per share

c. $38.38 per share

d. 1.93 times

Explanation:

The computation is shown below:

a. Earning per share = (Net income) ÷ (Number of shares)

where,

Net income =  Additions to retained earnings + cash dividends

                    = $261,000 + $194,000

                    =  $455,000

So, the earning per share equal to

= $455,000 ÷ 130,000 shares

= $3.5 per share

b. Dividend per share = (Total dividend) ÷ (number of shares)

= ($194,000) ÷ (130,000 shares)

= $1.49 per share

c. Book value per share = (Total equity) ÷ (number of shares)

= ($4,990,000) ÷ (130,000 shares)

= $38.38 per share

d. Market to book ratio = (Market price per share) ÷ (book value per share)

= $74 ÷ $38.38

= 1.93 times

7 0
3 years ago
The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests
nikdorinn [45]

Hello,

Question - The U.S. Supreme Court case United States v. Bagley compels the prosecution to disclose any evidence that the _________ requests.

Answer - "evidence that the defense requests"

Why - "Bagley claimed that the government had violated his due process rights by withholding evidence that the defense could have utilized to impeach the witnesses. The district court held that the evidence was not material because the outcome would have been the same. "


6 0
3 years ago
Read 2 more answers
Other questions:
  • Your portfolio is comprised of 36 percent of Stock X, 18 percent of Stock Y, and 46 percent of Stock Z. Stock X has a beta of 1.
    10·1 answer
  • Which of the following statements are correct (Select all that apply): Select one or more: A. A balance sheet reports on investi
    6·1 answer
  • Tami Strand’s regular hourly wage rate is $10, and she receives an hourly rate of $20 for work in excess of 40 hours. During a J
    7·1 answer
  • What is true about Title VII of the Civil Rights Act of 1964?
    15·1 answer
  • Joint stock companies were organizations meant to establish colonies in the americas by people from
    7·2 answers
  • A broker has placed his own funds in the trust account along with the funds of several clients. He has written records of all fu
    6·1 answer
  • Bill is the owner of M.E. Inc., which produces miniature internal combustion engines that are used to operate hydraulic systems
    10·1 answer
  • Damien Carranza is a nonexempt employee of Verdant Enterprises where he is a salesperson, earning a base annual salary of $31,75
    14·1 answer
  • Hunter is going to receive $3,000 in one year and he wants to know its equivalent value today. The process of determining the an
    8·1 answer
  • (Chapter Supplement) Under the gross method of recording sales discounts discussed in this chapter, is the amount of sales disco
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!