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Svetlanka [38]
3 years ago
14

Darlington Inc., permits any of its employees to buy shares directly from the company. There are no brokerage fees and shares ca

n be purchased at a 10% discount. During May, employees purchased 14,000 shares at a time when the market price of the shares was $10 per share. Prepare the appropriate journal entry for the May purchase. (
Business
2 answers:
WINSTONCH [101]3 years ago
6 0

Answer: Please refer to Explanation

Explanation:

The following is the appropriate journal entry.

DR Bank Account (14,000 * 10 - 10%) $126,000

DR Employee Compensation Expense (10% * $140000) $14,000

CR Share Capital Account $140,000

(To record issue of shares to employees)

If you need any clarification do comment.

tino4ka555 [31]3 years ago
3 0

Answer:

Dr Cash 126,000

Dr Compensation expense 14,000

Cr Common stock 14,000

Cr Paid-in capital—in excess of par 126,000

Explanation:

Darlington Inc Journal entry

Dr Cash ($10 x 14,000 x 90%) 126,000

Dr Compensation expense ($10 x 14,000 x 10%) 14,000

Cr Common stock ($1 x 14,000) 14,000

Cr Paid-in capital—in excess of par ($9 x 14,000) 126,000

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Cindy earned a 10 percent increase in her salary and received the entire increase at the beginning of the year, with the stipula
sammy [17]

Answer:

Lump-sum salary increase.

Explanation:

A lump-sum salary increase is an amount paid instead of increase in salary. It is not added to the fixed base salary, it is instead given in the form of a single cash payment, as it is the case with Cindy here. This is why it is also known as lump sum bonus, because it is given as a single payment, as it was in Cindy’s case, all given at the beginning of the year.

7 0
3 years ago
Certain brand names, such as Kleenex or Xerox, have become _______, because they are so commonly identified with a specific prod
kogti [31]

<u>Answer</u>: Certain brand names, such as Kleenex or Xerox, have become generic name.

<u>Explanation:</u>

Generic name is the term used to refer a product with its brand name rather than the product itself. Kleenex  and Xerox are the brand names of the products. Xerox is photocopying product and Kleenex is the brand name for wet wipes. People commonly use the word Kleenex instead of tissues or wet wipes.

This process can be called as genericization and companies loose their trademarks due to these usage of names. These generic names have wide spread popularity.

7 0
3 years ago
Bruno &amp; Court is a nonprofit organization that captures stray deer bewildered within residential communities. Fixed costs ar
Nadusha1986 [10]

Answer:

3,300 deer

Explanation:

Total funds available to meet the entire cost of capturing stray deer = $48,000

This represents the total funds available as the Bruno & Court is a non profit organisation, it needs funding and as provided in the given case total funds available are $48,000 through local philanthropy.

Associated fixed cost in this activity = $15,000

Thus, maximum variable cost shall be = $48,000 - $15,000

= $33,000

Variable cost per deer = $10

Total number of deer to be captured = $33,000/$10 = 3,300 deer

4 0
3 years ago
For February, sales revenue is $900,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising e
FinnZ [79.3K]

Answer:

Option  A

Total selling expenses for the month of February=$245,600

Explanation:

<em>The selling expenses include all the expenditure incurred in respect of activities revolving around the marketing and distribution of goods to the final consumer.</em>

<em>These expenditures may be fixed or variable in nature</em>

DATA

Sales revenue -  $900,000;

Sales commission - 5%×  900,000 =  45000

Sales manager salaries  -  96,000

Advertising expenses - 80,000

Shipping expenses - 2% × 900,000 = 18000

Miscellaneous selling expenses = 2100 + (1/2× 1%× 900,000) =6600

Total selling expenses for the month of February

= 45000 +  96,000 + 80,000+ 18000 + 6600  = $245,600

Total selling expenses for the month of February=$245,600

6 0
3 years ago
When performing ________ of the marketplace, you might uncover key trends such as the growing popularity of personalized marketi
borishaifa [10]

<u>Environmental Scan</u> helps to uncover key trends in the marketplace.

<h3>What is an Environmental Scan?</h3>

This refers to the act of collecting information about an organization's internal and external environment with the purpose of helping management to take strategic decisions regarding the future of the entity or organization.

To collect such information, surveys are required.

See the link below for more about Environmental Scan:

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7 0
2 years ago
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