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pashok25 [27]
3 years ago
14

Issued common stock to investors for $14,083 cash (example).

Business
1 answer:
just olya [345]3 years ago
3 0

1.                               Cash........................................... DR   $14083

                                    To Common Stock............................................ $14083

(Being Cash received from sale of common stock to shareholders)

2.                           Merchandise Inventory.............DR $878418

                                    To Accounts Payable.................................... $878418

(Being Inventory purchased on account)

3.                                      Cash................................ DR  $11000

                                        To Long Term Debt.................................... $11000

(Being Cash Borrowed)


4.                     Accounts Receivable.................. DR   $1409068

                              To Sales.................................................................... $1409068

(Being Sales made on Account)

                    Cost of Goods Sold.................... DR  $852316

                            To Merchandise Inventory................................ $852316

(Being Cost of goods sold recognised against sales made)

                           Dividends Payable............................... DR $ 22737

                                  To Cash............................................................. $22737

(Being Dividends Paid)

                             Property, Plant and Equipment....................DR $19397

                                      To Cash.......................................................................$19397

(Being additional Property, Plant and Equipment purchased in cash)

                           Selling Expense.........................DR $386540

                                   To Cash........................................................... $ 289905

                                   To Accounts Payable..................................$96635

(Being Selling Expenses incurred in cash and on account)

                               Cash............................DR $333

                               Interest Recievable...................DR $37

                                      To Interest Income..........................................$ 370

(Being Interest Received in Cash and partly receivable later)

                           Interest Expense....................... DR $1395

                             To Interest Payable.................................................... $1395

(Being Interest Expense Accrued).


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Match the items.
Igoryamba

Answer:

D --> 3

B --> 2

A --> 1

C --> 4

Explanation:

1.- The company should pick the most probable outcome when possible to evaluate liabilities, and only recognize revenues and assets with certain.

Between two  favorable figures, it will pick the lowest if it is not certain about the second outcome.

2.-The accounting should disclosure all information useful for third parties to make knowledgeable decisions about a company

3: the accounting should keep the same method over the years, so the assets valuation follow a certain logic. If the accounting change method every year, then the valuation of the assets will differ from period to period. This will make the books of previous year difficult to compare with the current year.

4.- The company needs to show any important data which is significant to the business

6 0
2 years ago
Whatever, Inc., has a bond outstanding with a coupon rate of 5.87 percent and semiannual payments. The yield to maturity is 6.9
leonid [27]

Answer:

Market price of the bond = $912.53

Explanation:

YTM = 6.90%

Coupon rate = 5.87%

Number of compounding per year = 2

YTM Per perid = 0.0345

Years = 13

Number of period = 26 (Nper)

Par value = 1,000

Semi annual coupon rate = 0.02935

The semi annual coupon payment = Par value * Semi annual coupon rate = 1,000 * 0.02935 = $29.35

Market price of the bond = PV(YTM, Nper, Semi annual coupon payment,Par value)

Market price of the bond = $912.53

6 0
3 years ago
In collaborative problem solving, it is important for the initiator to:
Solnce55 [7]

Answer:

The correct answer is B

Explanation:

Collaborative Problem Solving is the tool or a technique which is used for solving the problems and it makes the explicit respond.

The initiator is the person who initiates the response in the problem in order to solve the problems.

So, the vital as well as primary thing for the initiator is to avoid making the evaluative or measured conclusions as well as attribute the motives or purpose to the respondent, whose query it is.

3 0
3 years ago
1. Sheetz Company is purchased by Pulsar Corporation, at an acquisition cost that is $25,000,000 greater than the fair value of
emmasim [6.3K]

Answer:

a. Dr goodwill; credit building for $8,000,000

Explanation:

Goodwill refers to excess of purchase consideration over net assets value of an entity in case of acquisition.

Goodwill is an intangible asset which is recorded as follows on the date of acquisition.

Journal entry for Goodwill is;

Goodwill A/C                             Dr

Net Assets Acquired                 Dr.

     To Purchase Consideration

(Being goodwill recorded)

In the given case, building was acquired for $15,000,000 against it's fair value which was only $7,000,000. The excess price paid for such acquisition represents goodwill which shall be recorded as;

Goodwill A/C ($15,000,000- $7,000,000)  Dr. $8,000,000

             To Building                                                $8,000,000

(Being goodwill recorded)

5 0
3 years ago
Zara Inc., a well-known cosmetics manufacturer, introduced its anti-wrinkle cream in the Asian market after its sales in the Eur
notsponge [240]

Answer:

It is an attempt to extend product life cycle by finding new users.

Explanation:

Zara Inc., a well-known cosmetics manufacturer, introduced its anti-wrinkle cream in the Asian market after its sales in the European market leveled out due to stiff competition from rival products.

The company had to change its selling place because the competition in the European market was too much.

So the company was out looking for new users by introducing its products in the Asian market.

Hence the correct answer is it is an attempt to extend product life cycle by finding new users.

6 0
3 years ago
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