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
kirza4 [7]
3 years ago
11

"Prepare the issuer's journal entry for each of the following separate transactions.

Business
1 answer:
Charra [1.4K]3 years ago
3 0

Answer:

Dr cash        $303,500

Cr common stock                                      $133,500

Cr paid in capital in excess of par value $170,000

Second issue of shares:

Dr cash       $74,000

Cr common stock  $74,000

Explanation:

The cash received from the issuance of 44,500 at $3 par value is $303,500 which is to debited to cash and credited to common stock for$133,500 ($3*44,500) while the balance of $170,000  ($303,500-$133,500) is credited to paid in capital in excess par value account.

On the issuance of no par value common stock for cash of $74,000,the cash account is debited as usual with $74,000 while the common stock account is credited with same amount.

You might be interested in
QUESTION 2
solong [7]

Answer:

C. What is the relationship between salary, measured in dollars, and age, measured in years?​

Explanation:

Qualitative descriptive statistic will provide an enhanced presentation toward a certain occurrence, but the data is not measured by numbers.

When you see option A, frequencies and percentage is measured by numbers. So we can cross this out.

In option D, means and standard deviations is also measured in numbers.

This only leave us with option C.

8 0
3 years ago
Money is the most important aspect of a job because?
dlinn [17]

It allows a fair exchange between labor and being rewarded. Which is also very ethical.

5 0
3 years ago
Read 2 more answers
what is usually the highest percentage of family income that lenders allow for monthly mortgage payments
timama [110]
The highest percentage of family income that lenders allow for monthly mortgage payments usually is 36%. This is an example of debt-to-income ratio usage to determine the portion of debt taken by an individual and comparing it with his/her income. The ratio can be obtained by dividing the total debt and the total income of that individual.
4 0
3 years ago
On January 1, 2020, Swifty Corporation granted an employee an option to purchase 15000 shares of Swifty's $5 par value common st
nalin [4]

Answer:

For 2021, should recognize compensation expense under the fair value method of $170,500

Explanation:

According to the given data we have the following:

option pricing model determines total compensation expense to be $341,000

Also, The option became exercisable on December 31, 2021, after the employee completed two years of service.

Therefore, in order to calculate the amount should recognize compensation expense we would have to make the following calculation:

amount should recognize compensation expense=$341,000/2

amount should recognize compensation expense=$170,500

For 2021, should recognize compensation expense under the fair value method of $170,500

6 0
3 years ago
Hyper Color Company manufactures widgets. The following data is related to sales and production of the widgets for last year. Se
Nadya [2.5K]

Answer: $24,000

Explanation:

Operating income under absorption costing:

= Sales - Cost of goods sold - Selling and admin expenses

Cost of goods sold = Variable production cost + Fixed production cost

= (61 * 1,000 units sold) + (32,000 / 1,500 units produced * 1,000 units sold)

= $82,333

Selling and admin expenses:

= Variable + Fixed

= (6 * 1,000) + 8,000

= $14,000

Operating income = (120 * 1,000) - 82,333 - 14,000

= $23,667

= $24,000

4 0
3 years ago
Other questions:
  • Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery ba
    8·1 answer
  • There are many ways to cash-flow your college education without going into debt. Provide a minimum of five options for cash-flow
    14·1 answer
  • A severe draught causes the production of tomatoes to decrease. Which of the following outcomes is more likely to happen?
    15·1 answer
  • Seven Manufacturing Corporation uses both standards and budgets. The company estimates that production for the year will be 100,
    6·1 answer
  • The business risk of a company depends on:________.1. the company's level of unsystematic risk. 2. is inversely related to the r
    12·1 answer
  • Keys that are related by tonic are said to be _____.
    11·2 answers
  • Arizona Tea is marketed by Vultaggio & Sons. Vultaggio & Sons took a basic drink and put it into unusual bottles with el
    8·1 answer
  • Sunnyvale Inc. is considering investing in a new project. The average invested assets of the project would be $450,000 and the i
    5·1 answer
  • For 2020, X Company's production budget was 3,500 units of finished product, and the budget for direct material costs was $24,08
    15·1 answer
  • Calculate the price elasticity of demand for the price range of $9 to $10 & $10 to $15 for movie tickets for on D1. Show all
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!