Answer:
The journal entry to record the issuance of new stocks is:
Dr Cash 164,800
Cr Common stock 72,100
Cr Additional paid in capital in excess of par value 92,700
When you issue new stocks, the common stock account increases by par value (= 10,300 stocks x $7). Any money obtained over par value must be recorded under the additional paid in capital account (= 10,300 x $9).
Answer:
$171,500
Explanation:
The computation of the depreciation expense for the year 2021 is shown below:
For accumulated depreciation
= ($604,000 - $64,000) × 3 years ÷ 9 years
= $180,000
Now the depreciation expense for the year 2021 is
= ($604,000 - $180,000 - $81,000) ÷ ( 5 years - 3 years)
= $171,500
Hence, the depreciation expense for the year 2021 is $171,500
Answer:
Line of credit.
Explanation:
A line of credit is a loan that is issued by the bank to the customer. This type of loan can be withdrawn at any period of time by the customer.
A line of credit is a type of loan that can be used as a credit card. It is possible for a customer to withdraw money up to a maximum amount when needed, pay back and then withdraw the money again.
A line of credit enables the customer to borrow money without paying a high amount of interest. This type of loan can be used at any time without any form of restriction.
I THINK ITS MIDDLE FINGERS AT THESE AHOLE MODERATORS
