1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Delvig [45]
3 years ago
9

Western Wear Clothing issues 2,700 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming t

he issue price is $11 per share, record the issuance of common stock. ?
Business
1 answer:
balandron [24]3 years ago
8 0

Answer:

The Journal entry is as follows:

Cash A/c                    Dr. $29,700

To common stock                            $27

To Additional Paid in Capital in excess of par - Common Stock $29,673

Workings:

Shares issued = 2,700

Par value common stock to provide funds for further expansion = $0.01

Issue price = $11 per share

cash = Shares issued × Issue price per share

       =  2,700 × $11

       = $29,700

Common Stock = Shares issued × Par value common stock

                          = 2,700 × $0.01

                          = $27

Additional Paid in Capital in excess of par - Common Stock:

= cash - Common Stock

= $29,700 - $27

= $29,673

You might be interested in
Jacob is a senior manager at Aries LLC. He has been earning significant bonuses in addition to his salary. He often misrepresent
Mila [183]

The name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing is known as:

  • B. Self dealing

According to the given question, we are asked to state the name of the concept <em>which is illustrated</em> in this scenario about Jacob seeking deals that would <em>benefit his own interests more than the company </em>he is representing.

As a result of this, we can see that Jacob is self dealing because he is acting in his own interests in order to get significant bonuses in addition to his salary.

Therefore, the correct answer is option B

Read more about self dealing here:

brainly.com/question/7212688

7 0
3 years ago
3. Raymond decides to set up a lemonade stand every weekend for the next four weeks to save up for the latest X-Men comic. He ha
Vladimir [108]

Answer:

It should listen to his mother.

Explanation:

This week cash flow handled the fixed cost of 10 to Raymond's brother.

His father is not considering that so it thinks the business flops.

Now that fixed cost are paid the following weeks his gains will increase entirely based on the sales volume so, it is better to continue the business for the next three weeks.

6 0
3 years ago
Product modification occurs even when changes are made to a product's aesthetic appearance rather than its quality and functiona
Rainbow [258]
False :
because a product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product.
(Here it’s says only the aesthetic but it’s all)
8 0
3 years ago
A pharmaceutical research firm prohibits the employees who leave the firm from soliciting business from former customers or clie
gavmur [86]

Answer:

Non-piracy.

Explanation:

If a pharmaceutical research firm prohibits the employees who leave the firm from soliciting business from former customers or clients for a period of two years. This best exemplifies the non-piracy clause.

A non-piracy clause is a legal framework which provides protection for companies from an ex employee who has left. This clause states that ex employees are prohibited from soliciting business from former customers or clients either directly or indirectly for a period of two years.

<em>For instance, if Joyce works for XYZ pharmaceutical company that uses a non-piracy clause and later dropped a resignation letter or was laid off for a disciplinary action, she's prohibited from taking contracts from XYZ' customers for a period of two (2) years. </em>

8 0
4 years ago
which payday loan lender is likely to ask you to write a check for $115 before granting you a $100 loan
dsp73

The loan lender is likely to ask you to write a check  is: Payday advance company.

<h3>What is loan lender?</h3>

A loan lender is a person or a company that give out loan or lender out money to people.

A Payday advance loans company is a company that gives out loan to borrowers or lender in which the borrower are expected to payback the amount loan to them  after receiving their paycheck or salary.

Payday advance loans company  tend to given out fixed  interest rate to their borrower.

Inconclusion the loan lender is likely to ask you to write a check  is: Payday advance company.

Learn more about payday advance company here:brainly.com/question/25239160

4 0
2 years ago
Other questions:
  • The following information was taken from the accounting records of Gorky Corporation for the year ended December 31, Year 1: Cas
    6·1 answer
  • A high/low pricing strategy relies on the promotion of sales. True or False
    12·1 answer
  • Donald and Charlene are married and do not have any children. They plan to ensure that the other will not be unduly burdened by
    15·1 answer
  • Cash Now Industries just hired 500 new workers to build ATMs and self-service check-out systems at its manufacturing plant in Te
    5·1 answer
  • What are durable goods?
    7·1 answer
  • Although skyscrapers are mostly composed of steel and glass, carpenters are often employed to help with construction. How might
    12·1 answer
  • On December 1, after making a concerted effort, management determines that it will be unable to collect $1,200 owed to it by one
    14·1 answer
  • Your grandmother has promised to give you $10,000 when you graduate from college. If you speed up your graduation by one year an
    10·1 answer
  • When a process is in control, it results in there being, on average, 16 defects per unit of output. c-chart limits of 4 and 28 w
    8·1 answer
  • Under the double-entry system of accounting, a debit is always a negative entry.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!