Answer:
Common Stock 5,000
Additional paid-in Common stock 70,000
Preferred Stock 15,000
Additional paid-in Preferred stock 22,500
Explanation:
For the common and preferred stock accounts, we multiply the shares outstanding by the face value.
The additional paid-in will be the difference between the par value and the market price of the share at issuance.
<u>Common stock</u>
5,000 issued shares x $ 1 par value = 5,000
<u>Additional paid-in</u>
15 - 1 = 14 additional paid-in per share
5,000 shares x 14 = 70,000
<u>Preferred stock</u>
1,500 issued shares x $ 10 par value = 15,000
<u>Additional paid-on</u>
25 - 10 = 15 additional per share
1,500 x 15 = 22,500
Answer:
C. Governments have a difficult time fine-tuning the economy by using fiscal policy because there are several time lags and these are often variable.
Explanation:
Fiscal policy includes two important tools, one is taxation and the other is government spending, the balance of which is essential for the sustainable economy, however the collection of expected tax and the nature of spending (also include the priorities) takes time and certain variable factors e.g. economic growth (GDP), employment, inflation, etc makes it difficult for the government to fine tune the economy.
<h3><u>
Full Question:</u></h3>
Which of the following actions will help to ensure that formal business documents are trustworthy?
A: Using a wide variety of charts and tables
B: Putting the decision-related information first
C: Getting information from reliable sources
D: Requiring a password to open the document
Getting information from reliable sources will help to ensure that formal business documents are trust worthy.
<h3><u>
Explanation:</u></h3>
Business documents refers to the record, books, files, plants, correspondence, reports, documentation,etc and details associated with the financing activities of the business. They can be in the form of paper works, electronic format, etc. It is very essential for any business to contain these information that can be handed over to the stakeholders, public,etc when any issues occurs financially or legally.
There are many things that are to be followed while preparing these documents. The information that are included in this document must be collected from reliable sources. This is because it should not be proven to be false during any legal or financial issues.
Answer:
Explanation:
a. The journal entries are shown below:
Accounts receivable A/c Dr $410,000
To Sales revenue A/c $370,000
To Unearned service revenue A/c $40,000
(Being the sale is recorded)
Cost of goods sold A/c Dr $300,000
To Merchandise inventory A/c $300,000
(Being inventory is sold at cost)
b. The recognized revenue would be
Sales revenue $370,000
Service revenue $20,000
Total revenue $390,000
The service revenue would be
= $40,000 × 3 months ÷ 6 months
= $20,000
And, the 3 months is computed from January 2 to March 31
Answer:
The first foundation is called THE foundation You need to maintain a accurate balance so you can keep track
Explanation:
