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baherus [9]
3 years ago
7

Work Place Products Inc., a wholesaler of office products, was organized on July 1 of the current year, with an authorization of

125,000 shares of 1% preferred stock, $65 par and 700,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations:
Journalize the transactions.
A. July. 1 Issued 80,000 shares of common stock at par for cash.
B. July. 1 Issued 500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
D. Aug. 7. Issued 21,500 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $78,000, $427,000, and $97,000, respectively.
E. Sept. 20. Issued 35,000 shares of preferred stock at $79 for cash.
Business
1 answer:
vlada-n [284]3 years ago
4 0

Answer:

i am sorry i do not know.

Explanation:

i

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Assume University Athletic Pharoah Club sells T-shirts for $30 and anticipates selling 6,700 shirts during football season. The
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The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

University Athletic Pharaoh Club

<h3>Income Statement</h3>

For the football season

Sales Revenue                $201,000

Variable cost of sales        155,574

Contribution margin       $45,426

Fixed Costs:

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<h3>Data and Calculations:</h3>

Sales revenue = $201,000 ($30 x 6,700)

Cost of sales = $155,574 ($23.22 x 6,700)

Fixed Costs = $35,000

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Remaining fixed costs = $33,526

Thus, the income statement of University Athletic Pharaoh Club for the football season shows a net income of $11,900.

Learn more about Contribution-Margin Income Statement at brainly.com/question/24962994

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2 years ago
All of the following would be considered closing costs except for: a) A title search b) Cost of repainting the kitchen before mo
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B/ <span>Cost of repainting the kitchen before moving in</span>
5 0
3 years ago
A local theatre group wants to increase the membership and attendance at its performances. To do​ so, it hosts free​ shows,
Irina-Kira [14]

Answer:

E) Market Exchange

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A trade does not necessarily imply a money exchange, it can also include goods or services that provide utility for the other party. For example, an increase in group membership will help the theater group perform better.  

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grigory [225]

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3 years ago
Describe four areas of self-esteem discussed in the text and provide an example of each
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