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anyanavicka [17]
3 years ago
15

A company has the following transactions during the year related to stockholders’ equity.

Business
1 answer:
Ivanshal [37]3 years ago
5 0

Answer:

Journal entries are given below

Explanation:

February 1

(Issues 5,000 shares of no-par common stock for $15 per share)

                                          DEBIT       CREDIT

Cash(5000 x $15)            $75,000

Common stock                                    $75,000

May 15

(Issues 500 shares of $10 par value, 7.5% preferred stock for $12 per share)

                                             DEBIT       CREDIT

Cash (500x$12)                   $6,000

Preferred stock (500x$10)                    $5,000

Additional paid in capital                       $1,000    

October 1

Declares a cash dividend of $0.75 per share    

                                                             DEBIT       CREDIT

Retained Earnings (5500x$0.75)       $4,125

Dividend Payable                                                  $4,125

October 15 Date of Record

No Entry Required

October 31 Pays the cash dividend

                                           DEBIT       CREDIT

Dividend Payable              $4,125

Cash                                                   $4,125

       

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Answer:

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6 0
2 years ago
Sherman, Inc. manufactures chainsaws that sell for $65. Each chainsaw uses $14 in direct materials and $9 in direct labor per un
anzhelika [568]

Answer: $18

Explanation:

Based on the information,

Sales revenue = $65 × 225 = $14625

Cost of goods sold = (45 × $20) + (1125 × $4) + (225 × $14) + (225 × $9)

= $900 + $4500 + $3150 + $2025

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6 0
3 years ago
Patterson Co. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's NPV?
diamong [38]

Answer:

NPV= $60.52

Explanation:

Giving the following information:

Robbins Inc. is considering a project that has the following cash flow: −$950 $500 $400 $300

Cost of capital= 10.00%

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NPV= -Io + ∑[Cf/(1+i)^n]

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8 0
3 years ago
What is the principle of supply and demand?
ch4aika [34]

Answer:

erm

Explanation:

The more supply, the less demand. The less supply, the more demand.

8 0
3 years ago
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4 0
3 years ago
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