Answer:
b. has no-par value stock.
Explanation:
Additional paid-in capital represents the amount of money that shareholders have paid for their shares of stock, in excess of the par value of the stock. This is most likely to occur with no-par value stock, which has no set value assigned to each share.
Answer:
b.
Explanation:
Based on the scenario being described within the question it can be said that George is a creative salesperson, and is the main reason why he is so valued. This creativity allows George to come up with all the new ideas that others may not be able to come up with, and these ideas and tactics create value to the company.
Answer:
Actual Cost of Supplier A: $291.60
Actual Cost of Supplier B: $271.60
Explanation:
<u>Supplier A:</u>
Cost - 270
Shipping FOB shipping point
Purchase Discount = Invoice Price * Discount
For Supplier A, the invoice price is 270 and discount is 2/10 = 2%, so:
Purchase Discount = 270 * 0.02 = $5.4
Cost is:
270 + 27(shipping FOB point) - 5.4 = $291.60
<u>Supplier B:</u>
Cost - 280
Shipping Destination (so 0)
Purchase Discount = Invoice Price * Discount
For Supplier B, the invoice price is 280 and discount is 3%, so:
Purchase Discount = 280 * 0.03 = $8.4
Cost is:
280 - 8.4 = $271.60
Answer:
Debit Credit
Interest Expense 5,157
Long term Bonds 5,157
Explanation:
The 7%bond is issued by the Whispering Corporation on November 1, 2017 and the Whispering Corporation is using effective interest method with an interest rate of 6%, therefore the adjusting entry shall be recorded as at December 31,2017 in respect of interest accrued for two months i.e. November and December 2017 by following amount:
515,707*6%*2/12=5,157
The following adjusting entry shall be recorded in accounts of Whispering Corporation in respect of interest accrued as at December 31, 2017:
Debit Credit
Interest Expense 5,157
Long term Bonds 5,157
