1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Provided service to srijana store and received cash Rs 5000.<br>​
Artist 52 [7]

Answer:

what we want to tell about ?or your question is not proper type it full and proper .

I can't understand what you want to ask ?

6 0
3 years ago
6. The split-level home is a variation of the
grigory [225]

Answer:

O C. Victorian house.

4 0
3 years ago
Read 2 more answers
the paranting style which takes the concerns of all family members into account when making decisions is
Aloiza [94]
Democratic parenting style
6 0
3 years ago
Which of the following best describes the difference between a convertible bond and a warrant? Convertible bonds give the invest
levacccp [35]

Answer: Statement A

Explanation: Convertible bonds is a type of bond security which gives its holder the right to convert each bond to a specified number of shares. These are hybrid securities having features of both equity and debt.

.

Warrants are securities that give their holder the right to purchase the common shares of the company at a specified price and before a certain time period.

.

Thus, from the above explanation we can conclude that statement A is correct.

4 0
3 years ago
Turrubiates Corporation makes a product that uses a material with the following standards: Standard quantity 7.5 liters per unit
Julli [10]

Answer:

Direct material quantity variance= $1,400 unfavorable

Explanation:

Giving the following information:

Standard quantity 7.5 liters per unit Standard price $ 2.00 per liter

Actual production was 3,400 units.

The company used 26,200 liters of direct material.

<u>To calculate the direct material quantity variance, we need to use the following formula:</u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (7.5*3,400 - 26,200)*2

Direct material quantity variance= (25,500 - 26,200)*2

Direct material quantity variance= $1,400 unfavorable

5 0
3 years ago
Other questions:
  • Wesley has recently graduated and accepted his dream position with a law firm. The human resources team has requested that he tu
    15·1 answer
  • Who is the president of malaysia
    10·2 answers
  • Dinesh manages a division of a sporting goods manufacturer. He attends a conference and receives advice from four experienced ma
    8·1 answer
  • What are economic resources
    5·1 answer
  • Identify the risks exist in the conversion cycle of Central Production Limited.
    8·1 answer
  • In a bilateral monopoly with one buyer and one seller, the monopoly power of the seller and the monopsony power of the buyer ten
    6·1 answer
  • La Tortilla is the only producer of tortillas in Santa Teresa. The firm produces 10,000 tortillas each day and has the capacity
    8·1 answer
  • Based on the following information, determine the location quotient for Amusement City and whether this city has a competitive a
    12·1 answer
  • If a landowner purchased a vacant lot six years ago for $25,000, assuming no income or holding costs during the interim period,
    8·1 answer
  • What are the program run by Tribhuvan university?​
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!