Answer and Explanation:
1.
5 million shares granted ×$9.00=$45,000,000
2. No entry is made on the grant day.
3-5 )Dr compensation expenses 15
(45 million ÷3 years)
Cr Paid in capital-restricted stock 15
Note: The entry is the same for years 2021 to 2023
6. Dr Paid in capital-restricted stock 45
Cr Common stock($5 million share×$1 par)
$5
Cr Paid in capital - excess of par (Remainder) $40
Answer:
The correct answer is decrease; tightening.
Explanation:
If the FED reduces the money supply, it can cause interest rates to rise and credit conditions to tighten. If there is no change in the demand for money, the effect of reducing the money supply is said to lead to higher interest rates. For its part, another effect is to decrease the volume of loans made.
Answer: Gross pay- $1750.00
Net pay - $1,215.75
Explanation: Gross pay = Nomal time =$28*40= $1,120. Overtime = $28*1.5*15= $630 Total= $1,750
Net pay = $1,750 less Security tax, Medicare tax, federal income tax withheld.
$1750* 6.0%= $105
$1750* 1.5% = $26.25
Tax withheld= $403
Net pay= $1,750-$105-$26.25-$403
= $1,215.75
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Answer:
Expense must be recognized in July
Explanation:
The reason is that the expense must be recognized in the month in which the supplies are used because the accrual concept says that the expenses must be realized when they are incurred. Incurred means that the consideration received has been used. For example if I pay the telecommunication network in June to give 4G internet and the services are delivered in the month July then the expenses will be realized in the month in which the services were used and that is July for internet facilities. So in this case the supplies are used in the month of July which is in-accordance with the accrual concept.
