Answer:
June 12
Dr Cash 83,000
Cr Common Stock (83,000 × $1)
Dr Paid in capital in excess of par value 311,250
Cr Common Stock 311,250
July 11
Dr Cash 460,100
Cr Preferred Stock 442,900
Cr Paid in Capital in excess of par value -Preferred Stock 17,200
Nov. 28
Dr Treasury Stock 9,350
Cr Cash 9,350
Explanation:
Journal entries for Carla Vista Co.
June 12
Dr Cash 83,000
Cr Common Stock (83,000 × $1)
Dr Paid in capital in excess of par value 311,250
Cr Common Stock 311,250
July 11
Dr Cash 460,100
(4,300 × $107)
Cr Preferred Stock 442,900
(4,300 × $103)
Cr Paid in Capital in excess of par value -Preferred Stock 17,200
(4,300 × $4)
Nov. 28
Dr Treasury Stock 9,350
Cr Cash 9,350
Answer:
The correct answer is proce of competing products.
Explanation:
Pricing based on competition is the establishment of a price at the same level of competition. This method is based on the idea that competitors have already elaborated their pricing strategy. In any market, many companies sell the same or similar products, and, according to the classical economy, the price of these products should, in theory, already be in equilibrium (or, at least, in a local equilibrium). Therefore, by establishing the same price as the competition, a newly created company can avoid the trial and error costs of the pricing process.
Answer:
a. Dr Cash
Cr Capital
b. Dr Cash
Cr Rent
c. Dr Office supplies
Cr Accounts Payable
d. Dr Cash
Cr Accounts Receiveble
e. Dr Cash
Cr Accounts Receiveble
f. Dr Accounts Receiveble
Cr Services
g. Dr Cash
Cr Accounts Receiveble
Explanation:
Based on the information given the account to be debited and the account to be credited in the general journal will be:
a. Dr Cash
Cr Capital
b. Dr Cash
Cr Rent
c. Dr Office supplies
Cr Accounts Payable
d. Dr Cash
Cr Accounts Receiveble
e. Dr Cash
Cr Accounts Receiveble
f. Dr Accounts Receiveble
Cr Services
g. Dr Cash
Cr Accounts Receiveble
