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serious [3.7K]
3 years ago
5

The Shoe Exchange issues 3,000 shares of its $1 par value common stock to provide funds for further expansion. The issue price i

s $19 per share. What is the entry to record the issuance of the stock?
Business
1 answer:
Nezavi [6.7K]3 years ago
4 0

Answer:

Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares

Explanation:

Par value per share = $1

Issue price per share = $19

Premium per share from issue = $19 - $1

                                                   = $18

Number of issued shares = 3000

Share capital balance from issue = 3000 × $1

                                                          = $3000

Premium balance = 3000 × $18

                             = $54,000

Cash received from Issue = 3000 × $19

                                           = $57,000

Entries to be posted

Debit Cash account           $57,000

Credit Shares capital         $3,000

Credit Share premium       $54,000

Being entries to record cash received from the issuance of shares.

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Emma Jones Company has the following information​ available: Account ​12/31/2019 ​12/31/2018 Accounts Payable ​$76,500 ​$80,000
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Answer:

B. No.

Explanation:

The formula to compute the quick ratio is shown below:

Quick ratio = (Quick assets) ÷ (current liabilities)

where,

For 2018

Quick assets = Accounts​ Receivable, net  + Cash and Cash Equivalents + Short minus Term Investments

= $49,000 + $70,000 + $44,000

= $163,000

And, the current liabilities = Accounts Payable +  Income Taxes Payable

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Now put these values to the above formula  

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For 2019

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= $42,300 + $43,700 + $27,000

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And, the current liabilities = Accounts Payable +  Income Taxes Payable

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2 years ago
If a firm in a monopolistically competitive market lowers price, then Use letters in alphabetical order to select options
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In a monopolistic competitive market, firms maximizes profits when marginal revenue equals to the marginal cost. The demand curve of a monopolistic competitive market is downward sloping which means that as price reduces, the quantity demanded for the good will increase.

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