Answer:
Strategic international alliance
Explanation:
Answer:
The Journal entries are as follows:
(i) On August 1,
Legal expense A/c Dr. $9,600
To Common stock $8,000
To Additional Paid-in capital $1,600
(To record issue of 800 common shares of par value $10 to attorney)
(ii) On August 15,
Cash A/c Dr. $75,000
To Common stock $50,000
To Additional Paid-in capital $25,000
(To record issue of 5,000 common shares each at $10 par value)
(iii) On October 15,
Land A/c Dr. $48,000
To Common stock $30,000
To Additional Paid-in capital $18,000
(To record issue of 3,000 common shares as a consideration for purchase of Land)
Answer:
8.09%
Explanation:
In this question, we use the Rate formula which is shown in the spreadsheet.
The NPER represents the time period.
Given that,
Present value = $1,000 × 98.27% = $982.70
Assuming figure - Future value or Face value = $1,000
PMT = 1,000 × 7.5% = $75
NPER = 3.5 years
The formula is shown below:
= Rate(NPER,PMT,-PV,FV,type)
The present value come in negative
So, after solving this, the answer would be 8.09%