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Ber [7]
3 years ago
9

Office Space, Inc. sold 30,000 shares of its no-par value common stock at a cash price of $10 per share. The entry to record thi

s transaction would be ________.
Multiple Choice.
A) Debit Cash for $30,000; credit Common Stock $30,000.
B) Debit Cash $30,000; credit Preferred Stock $30,000.
C) Debit Common Stock $300,000; credit Cash $300,000.
D) Debit Cash $300,000; credit Common Stock $300,000.
E) Debit Cash $300,000; credit Preferred Stock $300,000.
Business
1 answer:
Degger [83]3 years ago
6 0

Answer:

Option A.

Dr Cash                    $300,000

Cr Common stock              $300,000

Explanation:

The journal entry of the shares issue with no par value is recorded with the assumption that the only amount received is the par value of the shares that were issued. Which means here we don't have Paid In capital (Share Premium), so the entry would be:

Dr Cash                    $300,000  ....... (30,000 Shares at $10 per share)

Cr Common stock              $300,000

The correct option is A.

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Answer:

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Long before this law was passed, famous trademarks like Coke had to sue imitators that tried to use similar names to market "alternative" products. For example, in 1920 Coca Cola (owner of Coke) sued Koke for trademark infringement and won.

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4 years ago
Mirtha Mudflat has sufficient funds to choose one of two investments. The same amount will be invested in either case. Choice on
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Answer:

risk premium is 4%

Explanation:

given data

investment = $100000

rate = 5%

rate = 4 %

cash flow = $9000

to find out

What is the risk premium

solution

we know here invest is done in more return so risk is always here taht is risk premium and invest here $100000 with 5 % so

return of investment is $5000

so here rate of investment is 5 %

and

we have given same amount  cash flows of $9000 per year

so rate of investment will be 9%

so here

risk premium will be 9% - 5%

so risk premium is 4%

7 0
3 years ago
At December 31, 2021, Moonlight Bay Resorts had the following deferred income tax items: Deferred tax asset of $62 million relat
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Answer:

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Explanation:

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The items are also classified in the balance sheet as seen below;

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