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stepan [7]
3 years ago
15

If Norben Company issues 4,000 shares of $5 par value common stock for $140,000, the accounta. Common Stock will be credited for

$140,000.b. Paid-in Capital in Excess of Par Value will be credited for $20,000.c. Paid-in Capital in Excess of Par Value will be credited for $120,000.d. Cash will be debited for $120,000.
Business
1 answer:
Ulleksa [173]3 years ago
6 0

Answer:

Paid-in Capital in Excess of Par Value will be credited for $120,000.

Explanation:

The journal entry for the issue of shares is shown below:

Cash A/c Dr $140,000

   To common stock  (4,000 shares × $5) = $20,000

   To Paid-in Capital in Excess of Par Value  $120,000

(Being issue of shares recorded)

So, the cash account is debited whereas the common stock and paid-in capital should be credited

And, the remaining balance should be transferred to the Paid-in Capital in Excess of Par Value

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<em>A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.  </em>

<em>Also note that all cost incurred up to the split-off point (the cost of crushing) are irrelevant to the decision to process further .  </em>

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The correct answer is A. During 2009 real GDP in Viloxia grew by 2 percent, which is about the same as average U.S. growth over the last one-hundred years.

Given that in 2009, the imaginary nation of Viloxia had a population of 5,000 and real GDP of 500,000, and in 2010 it had a population of 5,100 and real GDP of 520,200, to determine the growth of real GDP in Viloxia during 2009, the the following calculations must be made:

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Therefore, during 2009 Viloxia's GDP grew by 2 percent, which is about the same as average U.S. growth over the last one-hundred years.

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