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Answer:
By formation of legally binding contract.
Explanation:
Contacts are a good way for procuring inputs that have well-defined and measurable quality specifications and require highly specialized investments. Because of the high quality expected in the goods procured, having a legally enforceable contact will make the vendor provide high quality products that meets required specifications.
However when contracts dictate a particular price, so if the market price of input were to go down we will still be obligated to buy at the higher price from the vendor.
Answer:
The journal entry for J. Laney. to record this transaction is:
Legal Expenses $13,920 (debit)
Common Stock $2,900 (credit)
Share Premium $11,020 (credit)
Explanation:
The Common Stocks are carried at par value of $1. This means that any price paid in excess of the par value is accounted for in the Share Premium Account.
The Common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.
Share Premium = ($4.80 - $1.00) × 2900 shares
= $3.80 × 2,900
= $11,020
Answer:
Debit: $300
Credit: $300
Explanation:
See attached picture for explanation.
Answer:
Rate of interest will be 3 %
And number of periods will be 8
So option (a) will be correct option
Explanation:
We have given rate of interest = 12 %
And time period = 2 years
We have rate of interest is the money is compounded quarterly
When money is compounded then we divide the rate of interest by 4 and multiply time period by 4
So rate of interest for quarterly will be 
%
And number of periods will be 
So option (a) will be the correct answer
