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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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Moe has entered into a contract with Larry. Subsequently, Moe assigns his rights in that contract to Curly. Which of the followi
bazaltina [42]

Answer:

Larry protests the assignment and demands that Moe not make the assignment.

Explanation:

An assignment is defined as the transfer of the responsibility of performing a task or contract to another person.

In this instance Moe is trying to assign the contract he has with Larry to Curly.

Curly will now take responsibility for the execution of the contract.

Assignment is allowed if performance of the task is assured, and the other party has no grounds to object if performance will not be affected.

The situation where the assignment will not be prevented is when Larry protests the assignment and demands that Moe not make the assignment.

However the assignment can be prevented if there is an anti-assignment clause, violate public policy, or materially alter Larry's duties and cause an increased burden or risk to Larry.

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3 years ago
Owens Finest Mattress Co., Inc. decided to employ an anti-mission statement. Which of the following phrases did they use?
gulaghasi [49]

THE ANSWER IS NOT B.......but i think its A....i think now so if you get it wrong im sorry.

3 0
2 years ago
Read 2 more answers
How to make a peanut butter and jelly sandwich essay?
katrin2010 [14]
To start you need your hands. Go to the kitchen, walk over to the sink and turn on the water. Get your hands wet put some soap in them and rub them together. Now that your hands are rubbed clean, stick them under the running water and rinse them off. Turn off the water and dry your hands with a paper towel or a kitchen towel. Now that your hands are clean, prepare to make a peanut butter and jelly sandwich.
Now that you are already in the kitchen get out a plate or napkin, if you choose a plate choose a paper plate less dishes to do. Then you need to get the loaf of bread, open it up and take out your two slices of bread. Now that you have your two slices out, you can put back the rest of the loaf. Take your two slices and set them on the plate next to each other not on top of each other.
Now you need to find a knife. It has to be the right knife no steak knife for this job. You need a good old-fashioned butter knife that will be the utensil you need. I hope that you know where the knives are in your house, in a drawer with all the other silverware. Now that you found the butter knife, take it out and set it on the counter next to your plate.
After the knife, you need one of the most important items, the jelly. So now you need to go to the refrigerator and find which flavor you would like to use. Even though you might only have one or two choices (I mean it is your fridge not a grocery store). Grab your selection and bring it to the counter where your other items are. Now you open the jelly up then pick up the knife. Scoop some out onto one of the slices of bread, put down the jar and pick up the slice of bread with the jelly on it. Now spread the jelly
4 0
3 years ago
Suppose workers in Freecia can produce two bushels of rice with the same amount of effort it takes them to produce one memory ch
Reika [66]

Answer:

Freecia has a comparative advantage in producing memory chips

Explanation:

Comparative advantage occurs when a company has an advantage over the other through the production of certain goods at a cheaper rate.

Looking at the given example , let us assume that the cost of producing a bushel of rice is $10 and memory chips is $10

Warmia produces two bushels of rice at $70 and a memory chip at $70(ratio 2:1) 1/3*70= 23.3

Freecia produces five bushels of rice at $70 and two memory chips at $7

(Ratio 5:2). 2/7*70=14

We can see that the cost of producing memory chips is cheaper fo Freecia

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Tell whether the statement is TRUE or FALSE. Deregulation always leads to lower prices for the consumer.
SVEN [57.7K]
FALSE. Deregulation allows vendors or sellers to set individual prices with no regulation, therefore more likely to set higher rates.
5 0
3 years ago
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