Answer:
32
Explanation:
Using Formula
Cost + (Cost*Margin) = Selling Price
Cost is not known...
Cost (1 + Margin) = Selling Price
Cost = Selling Price / 1 + Margin
Here, Margin is 0.45 of cost and selling price is 46.4
Cost = 44.4 / 1.45
Cost = 32
Answer:
The journal entry for J. Laney. to record this transaction is:
Legal Expenses $13,920 (debit)
Common Stock $2,900 (credit)
Share Premium $11,020 (credit)
Explanation:
The Common Stocks are carried at par value of $1. This means that any price paid in excess of the par value is accounted for in the Share Premium Account.
The Common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.
Share Premium = ($4.80 - $1.00) × 2900 shares
= $3.80 × 2,900
= $11,020
2 year college = associates degree you can earn this in community colleges or technical colleges. 4 year degree = bachelors degree this is the highest you can go in college or university therefore is very awarding.
Answer:
c. credit to notes payable
Explanation:
Based on the information given we were told that the Equipment which cost the amount of $16000 was purchased by paying the amount of $4000 as cash which means that if the company sign a NOTE PAYABLE for the remainder. The journal entry should include a: CREDIT TO NOTES PAYABLE
