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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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Answer:

Permanent partial disability

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4 0
1 year ago
Scenario 5 Guemmer Specialty Foods can produce their famous cherry pies at a rate of 1650 cases per day (this is the daily produ
Arturiano [62]

Answer:

c) Annual set up cost= $9878.04

Explanation:

<em>Economic batch quantity (EBQ) is also known as economic production run, It is the optimum production run that a manufacturer should operate to minimize set up cost and carrying cost. </em>

<em>Carrying cost is the cost of keeping inventory while set up cost is cost of getting machines ready for production</em>

Annual inventory cost = = Set up cost per  run×   Annul demand / EBQ

<em>Annual demand / the economic production run(EBQ)</em>

It is calculated as follows:

Economic batch quantity =√2× Co× D / Ch(1-D/P)

Where ,

D - annual demand - 62,500

Ch -holding cost per unit per annum - $11.50

Co- set up cost - $320

Production rate  = 1650 units per day  × 250 days =412,500 units

<em>Economic batch quantity</em>

= √(2× 320× 62,500) / (11.50× (1- 62500/412500) )

=2024.69 units

<em>Annual set up cost</em>

= Set up cost per run ×   Annul demand / EBQ

= $320×  62,500/2024.69

Annual set up cost= $9878.04

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Answer:

dont overwhelm yourself, take your time and enjoy life.  

Explanation:

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A company uses the weighted average method for inventory costing. During a period, Department B finished and transferred 54,000
kolbaska11 [484]

Answer:

Equivalent Units = 61,200

Explanation:

The transferred units, means they complete their process, so move out and count as 100%

The ending WIP will be compute for their completion percent.

54,000 Transferred out

12,000 x 60% 7,200 equivalent

Equivalent Units = 61,200

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Explain why the sale of used goods is not included in GDP.
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