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Gnoma [55]
3 years ago
8

Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During

the first month of operation, the corporation issued 270 shares to its attorneys in payment of a $4,700 charge for drawing up the articles of incorporation. The entry to record this transaction would include:
Business
1 answer:
dimulka [17.4K]3 years ago
8 0

Answer:

paid in capital in excess of par value = $2000

and There will be a debit to Organisation expenses for $4,700

Explanation:

given data

charter authorized = 100,000 shares

common stock = $10 par value

issued  = 270 shares      

payment = $4,700        

solution

we know here that

Paid up value of the stock = $10 per share

and here shares issue to the attorney satisfying the organisation expenses is 270 shares

so common stock = 270 shares × $10

common stock =  $2700

so paid in capital in excess of par value = $2000

and There will be a debit to Organisation expenses for $4,700

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________ distribution is a product distribution strategy that involves stocking the products in as many outlets as possible.
djyliett [7]

Answer:

The answer is intensive distribution strategy.

Explanation:

Intensive distribution strategy occurs when a company tries to sell their products through as many outlets as possible, thus ensuring that customers will encounter the company’s products in various distributor points. It is generally done to increase sales of products. Companies that would use this type of strategy are typically those that are competing in a perfect competition market, since product unavailability would just make customers of the product use a different brand from a competitor’s company instead.

6 0
3 years ago
Thomas Engel contributed equipment, inventory, and $45,000 cash to a partnership. The equipment had a book value of $25,000 and
Troyanec [42]

Answer:

Thomas capital

Equipment                $30,000

Inventory                   25,000

Cash                         <u> 45,000</u>

Total                       <u>  100,000</u>

Explanation:

Equipment : thebook value is $25,000 while the market value is $30,000.  the market value of the equipment will be used.

Inventory : the book value is $50,000 while the market value is $25,000. As a result of obsolescence, the inventory will be value at lower of cost and net realizable value(IAS2). therefore, $25,000 will be recognized for the inventory in the determination of Thomas capital

Cash: there is no changes in cash contributed.

5 0
2 years ago
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Answer:

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Explanation:

4 0
3 years ago
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You are considering starting a sandwich shop, but are comparing that to the idea of staying at your current job instead. Which e
egoroff_w [7]

The principle of opportunity cost is taken into consideration when considering starting a sandwich shop, but are comparing that to the idea of staying at your current job.

<h3>What is opportunity cost?</h3>

It is the value or benefit loss when an alternative is selected. The value of the job or product to be dropped will be given up to choose something else.

Therefore, the principle of opportunity cost is taken into consideration when considering starting a sandwich shop, but are comparing that to the idea of staying at your current job because of the benefits that will be forgone in the current Job.

For more details on opportunity cost kindly check

brainly.com/question/1549591

6 0
1 year ago
7. Alice has $15,000 for investment purposes and suppose Alice’s MARR is 18% compounded monthly. Her bank has offered the follow
stepladder [879]

Answer:

a) Annual Worth of net gain is  $6793.0184

b) Annual Worth of net gain is  $6395.557

c) Annual Worth of net gain is  $6922.65

Recommendation: Option C is the best option for Alice

Explanation:

a) Alice will get $200 per month for 5 years which means for 60 months at the rate of 18% compounded monthly.

So FV of that cash flow

= FV(18%/12,60,-200)

= 19242.9303

A lump sum amount of $17000 at the end of 5th year

Total Worth = 19242.9303 + 17000

                    = $36242.9303

Annual worth = $36242.9303 / 3.1271

                      = $11589.94

Net Gain = $36242 - $15000

               = $21242.9303

Annual Worth of net gain = $21242.9303 / 3.1271

                                          = $6793.0184

b) Racehorse share will be worth $35000 on 5 years.

Annual Worth = $35000 / 3.1271

                       = $11192.48

Net Gain = $35000 - $15000

               = $20000

Annual Worth of net gain = $20000 / 3.1271

                                          = $6395.557

c) Saving account will generate funds after 5 years

= FV(18%/12,60,,-15000)

= $36648.30

Net Gain = $36648.30 - $15000

               = $21648.30

Annual Worth = $36348.30 / 3.1271

                       = $11719.58

Annual Worth of net gain = $21648.30 / 3.1271

                                          = $6922.65

Therefore, Option c is best for Alice.

8 0
3 years ago
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