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
damaskus [11]
3 years ago
9

Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shar

es of Vicker. What will be the consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2018 balances) as a result of this acquisition transaction?
Business
1 answer:
CaHeK987 [17]3 years ago
8 0

Answer:

$504,000

Explanation:

Assume that Bullen issued 12,000 shares of common stock with a $5 par value and a $47 fair value for all of the outstanding shares of Vicker.

The consolidated Additional Paid-In Capital and Retained Earnings (January 1, 2018 balances) as a result of this acquisition transaction will be:

Journal entries

Dr. Cash (12000 shares x $47)..................................$564,000

Cr. Common Stock (12,000 shares x $5).................................$60,000

Cr. Additional Paid-In Capital [(12,000 shares x ($47-$5)].$504,000

Being issue of common of $5 per share at the price of $47 per share

You might be interested in
Individuals and companies respond to incentives in order to allocate their scarce resources in ways that provide the __________
MakcuM [25]
Lowest because to show how scarce it is it will have to be low 
7 0
3 years ago
Read 2 more answers
Critically analyze the difference and points of convergence between floor inspection and functional inspection
r-ruslan [8.4K]

Answer:

Please refer to the below;

Explanation:

Difference between Floor inspection and Functional inspection.

• Floor inspection is usually conducted in a production environment. It involves checking of materials while processing in the machine by inspectors. Rather than checking the materials in the machine at the beginning of production, floor inspection checks the materials while in process inorder to ensure that the defected ones are quickly detected and expunged. It also ensure that the equipments used in processing are properly functioning.

• Functional inspection is an inspection that checks the overall function of a product rather than what makes up the component parts. For instance the load capacity and speed of a vehicle can be checked for optimal performance whereas individual parts that make up the vehicle are not checked, yet bring out satisfactory performance when combined together. This form of inspection is concerned with verification of final output and does not provide details about different sections instead provides a wider understanding of comfort that emanate from inspecting same item.

Points of Convergence between Floor inspection and Functional inspection.

• The key objective of both floor and functional inspection is quality output having reviewed and examined their expectations.

• Both floor and functional inspection work to prevent defective product from flowing down the successive operations and avoid loss to the company

• Both floor and functional inspection aim at meeting customers requirements, wants and needs.

4 0
3 years ago
Which procedure would be of most assistance to an auditor discovering a large credit sale that has erroneously been recorded twi
koban [17]

Answer:

B. Sending accounts receivable confirmations.

4 0
3 years ago
The most useful allocation basis for the departmental costs of an advertising campaign for a storewide sale is likely to be: Mul
azamat

Answer:

Proportion of sales of each department.

Explanation:

Advertising expense directly effects the sales of the business. As the campaign is made store-wide sales and it does not directly traceable to any specific department. It need proper basis for allocation of expenses. The proportion of sales of each department is the most suitable basis from all of the given options because the share of benefit from the campaign is received in the form of sale. A campaign might mostly effects the sales.

3 0
3 years ago
Which of the following activities is an example of gathering data by observation?
s344n2d4d5 [400]
From the given options, the activity which exemplifies gathering data by observation is option D: Measuring how many parts workers assemble in an hour. This is the best answer as it uses senses to observe people in naturally occurring situation — according to the definition of observation as a data collection method.
5 0
3 years ago
Read 2 more answers
Other questions:
  • Andy compares mattresses. A twin-sized NightSoft mattress at the large chain BuyRite costs $1,500. The BuyRite saleswoman tells
    9·2 answers
  • Simpkins Corporation does not pay any dividends because it is expanding rapidly and needs to retain all of its earnings. However
    5·1 answer
  • Suppose you are building a scatter plot in Excel for a large amount of data. After selecting the scatter plot option, how do you
    11·1 answer
  • Describe the origins, purposes, and practices of the "long drive" and the "open range" cattle industry. What ended this brief bu
    14·1 answer
  • at the end of the year, the walt disney company has a profit of $920 million. this profit belongs to which of the following grou
    15·1 answer
  • What are examples of people creating intellectual property? Check all that apply.
    13·1 answer
  • When patty sloane bought a tidy maid franchise, she became a:?
    9·1 answer
  • Jeff is a top manager at a textile factory. He is developing a crisis plan in the event that the company has a toxic spill or ac
    8·1 answer
  • Question 1: Write an essay covering the following points;
    8·1 answer
  • In pure competition, each extra unit of output that a firm sells will yield a marginal revenue that is?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!