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Verizon [17]
3 years ago
11

On March 1st, Nichols Corporation purchased 2,000 shares of previously issued common stock, paying $4 per share. On April 1st, N

ichols sold 1,000 shares at $4 per share. What is the journal entry to record the sale of the 1,000 shares?
Business
1 answer:
s2008m [1.1K]3 years ago
5 0

Answer:

The journal entry for the sale of the shares is as:

Explanation:

Cash A/c.......................Dr    $4,000

     Treasury Stock A/c......Cr   $4,000

As there is sale of stock, so the corporation is receiving the cash and any increase in the asset is debited. Therefore, the cash account is debited. And the stock is going out of the business, then decrease in stock is credited. Therefore, the treasury stock account is credited.

Working Note:

Cash = Number of Shares × Price per share

        = 1,000 × $4

        = $4,000

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the state transferred ownership of property to roger and pauline. which transfer document would the state agency use?
elena55 [62]

The state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.

<h3>What is a deed of assignment?</h3>

It should be noted that the deed of assignment simply means an instrument that's used to illustrate that a transfer has taken place.

Any property transaction needs a deed of assignment because it serves as the primary record between the seller and the buyer proving that all negotiations, inquiries, and other required due diligence have been made, the purchase price has been paid, and all other prerequisites have been met.

In this case, the state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.

Learn more about assignment on:

brainly.com/question/13858252

#SPJ1

7 0
2 years ago
Hugo has been working on his company’s new marketing campaign for the past few weeks. He is now looking at the target market and
krek1111 [17]

Answer:The Sixth Step determining the promotional mix, which tool to use , when and how much.

Explanation:

Promotional mix is how resources are allocated of resources among elements such as advertising, sales promotion, public relations, personal selling or direct marketing.

Integrating the elements together depends on the product one is promoting, preferences of the customers, budget and general market conditions. The sixth step shows which tools and promotional mix to use to achieve the aim of the organization. Hugo is in the sixth step of the marketing planning process.

5 0
3 years ago
EcoMart establishes a $1,050 petty cash fund on May 2. On May 30, the fund shows $312 in cash along with receipts for the follow
fredd [130]

EcoMart establishes General Journal

May 2

Dr Petty cash 1050

Cr Cash 1050

May 30

Dr Merchandise inventory 120

Dr Postage expense 359

Dr Miscellaneous expenses 240

Dr Cash short and over 9

Cr Cash728

June 1

Dr Petty cash 150

Cr Cash 150

Workings:

May 30,Merchandise inventory 120+ Postage expense 359+ Miscellaneous expenses 240+ Cash short and over 9 = $728

June 1

1050-1200= 150

7 0
3 years ago
Talk Talk, Inc., offers to buy from Voice Media Corporation (VMC) 1,000 smartphones. Without notifying Talk Talk, VMC timely shi
Scilla [17]

Answer: C.) a breach

Explanation: The scenario described above, highlights a breach on the path of VMC, a breach in a legal context refers to the failure to comply or observe certain guiding principle. In contract terms, a breach is a violation of contract terms. Once talk talk has offered to buy from VMC, the order made available and to talk talk Inc. by VMC should meet the standard specification requested in Talk talk's order. Any violation of these specification without notifying talk talk will be considered a breach.

7 0
3 years ago
A professor of statistics claimed that the average amount of money a typical college
Lilit [14]

Answer:

We fail to reject the Null hypotheses that the average amount of money a typical college student spends per day is less than $70.

Explanation:

A professor of statistics claimed that the average amount of money a typical college student spends per day during social distancing at home is over $70.

Based upon previous research, the population standard deviation is estimated to be $17.32.

The professor surveys 35 students and finds that the mean spending is $67.57.

Is there evidence that the average amount spent by students is less than $70?

For the given problem the Null hypotheses is that the average amount of money a typical college student spends per day is less than $70.

H_0= \mu

For the given problem the Alternate hypotheses is that the average amount of money a typical college student spends per day is over $70.

H_1= \mu >70

The test statistic is given by

z = \frac{\bar{X}-\mu}{\frac{\sigma}{\sqrt{n} } }

Where X_bar is the sample mean spending that is $67.57, μ is the average population spending that is $70, σ is the standard deviation that is 17.32 and n is the sample size that is 35.

z = \frac{67.57-70}{\frac{17.32}{\sqrt{35} } }\\\\z = \frac{-2.43}{ 2.927}\\\\z = -0.83

The p-value corresponding to the z-score of -0.83 at significance level 0.10 is found to be

p-value = 0.2036

Since 0.2036 > 0.10

We fail to reject the Null hypotheses that the average amount of money a typical college student spends per day is less than $70.

6 0
3 years ago
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