Sneed Corporation issues 9,700 shares of $49 par preferred stock for cash at $66 per share. The entry to record the transaction
will consist of a debit to Cash for $640,200 and a credit or credits to a.Preferred Stock for $475,300 and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.
b.Paid-In Capital from Preferred Stock for $640,200.
c.Preferred Stock for $640,200.
d.Preferred Stock for $475,300 and Retained Earnings for $164,900.
and Paid-In Capital in Excess of Par—Preferred Stock for $164,900.
Explanation:
The par value it's a minimum price that the company assigns to the issued shares only to be used in the accounting system but it's not related to market price.
This par value will be shown as a separate value in the section of stockholders' equity, reported under the item Paid-in-Capital, the difference with the market price it's reported as Preferred Stock.
Cash $640.200 Debit
Preferred Stock $475.300 Credit
Paid-In Capital in Excess of Par—Preferred Stock $164.900 Credit
A work point is an independent entity whose location is defined in space.
Explanation:
Work points may be placed or projected onto part faces, linear edges, or onto an arc or circle. Work points can be constrained to the center points of arcs, circles, and ellipses.
1:People have too much money, and there is a danger of inflation. - <span>B contractionary fiscal policy </span><span> 2:The GDP has fallen to an all-time low, and there is low demand for most goods. - </span><span>D:expansionary fiscal policy </span><span> 3:Few farmers produce cotton because profits are at the equilibrium price. - </span><span>A:price floor </span><span> 4:Prices of staple foods have shot up because of shortages after an earthquake. - </span>C:price ceiling
