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3 years ago

What is the main difference between the equity and exchange philosophies of compensation?

1 answer:

3 0

The equality pilosophy base on available budget, the exchange pilosophy is based on profit margins.

The equality pilosophy is based on fairness, the exchange pilosophy is based on employee value

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Cushenberry Corporation had the following transactions.1. Sold land (cost $11,360) for $14,200.2. Issued common stock at par for

miss Akunina [59]

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $14,200

To Gain on land A/c $2,840

To Land $11,360

(Being the land is sold)

2. Cash A/c Dr $18,900

To Common stock A/c $18,900

(Being the common stock is issued for cash)

3. Depreciation Expense A/c Dr $15,730

To Accumulated Depreciation - Buildings A/c $15,730

(Being depreciation expense is recorded)

4. Salaries expense A/c Dr $8,080

To Cash A/c $8,080

(Being the salaries expense is paid for cash)

5. Equipment A/c Dr $8,420

To Common stock A/c $1,170

To Additional paid-in capital in excess of par value A/c $7,250

(Being the equipment is purchased)

6. Cash A/c Dr $1,236

Accumulated depreciation - Equipment A/c Dr $7,210

Loss on sale of equipment A/c Dr $1,854

To Equipment A/c $10,300

(Being the equipment is sold)

7 0

3 years ago

Proco had an account payable of $6,400 due to Shirmoo Inc., one of its suppliers. The amount was due to be paid on January 31. P

Anna007 [38]

Answer:

assets = liabilities + equity

a) NA - $6,400 AP

+ $6,400 NP

net effect $0

b) NA + $128 interest - $128 retained

payable earnings

c) -$6,528 cash -$6,400 NP NA

-$128 interest p.

revenue - expenses = income

a) NA NA NA

b) $0 $128 -$128

c) NA NA NA

8 0

3 years ago

Presented below are three independent situations:

Blababa [14]

Answer:

Explanation:

June 30, 2018

Dr Bonds Payable $250,000

Dr Loss on Redemption of bonds $25,500

Cr Discount on Bonds Payable $20,500

Cr Cash $255,000

Supporting calculations:

Discount on Bonds Payable = 250,000 - 229,500 = $20,500

Cash = $250,000*102/100 = $255,000

Loss on redemption of bonds = $255,000+$20,500-$250,000 = $25,500

June 30, 2018

Dr Bonds Payable $200,000

Dr Discount on Bonds Payable $3,500

Cr Gain on Bond Redemption $9,500

Cr Cash $194,000

Supporting calculations:

Discount on Bonds Payable = 200000-196500 = $3500

Cash = 200000*97% = $194,000

Gain on Bond Redemption = $200,000 + $3,500 - $194,000 = $9,500

31 Dec

Dr Bonds Payable $30,000

Cr Common Stock $6000

Cr Paid in capital in excess of par-Common Stock $24000

Common Stock = 30000/1000*$5*40 shares = 6,000

4 0

3 years ago

Total spending in an economy is the sum of: personal consumption plus gross private investment plus government spending plus net

vichka [17]

Answer:

The correct answer is personal consumption plus gross private investment plus government spending plus net exports.

Explanation:

Total spending in an economy is the sum of personal consumption plus gross private investment plus government spending plus net exports.

Personal consumption expenditure is spending by consumers on goods and services. Gross private investment is the expenditure by the businesses.

Government spending is the expenses incurred by the government. Net exports are the amount spend on the purchase of goods and services from abroad.

All these together make total spending in an economy.

6 0

3 years ago

The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the m

Eva8 [605]

Answer:

The correct word for the blank space is: product life cycle.

Explanation:

The product life cycle is the period of time during which a product is conceived and developed, brought to market and late removed from the market. The cycle includes four (4) stages: research and introduction, promotion and growth, maturity, and decline.

8 0

4 years ago