Answer:
The journal entry to record this transaction would be:
April 1, 10,000 shares issued
Dr Cash 240,000
Cr Common stock 200,000
Cr Additional paid in capital 40,000
The balance sheet is affected:
Assets = Liabilities + Stockholders' equity
Cash = NA Common stock APIC
$240,000 $200,000 + $40,000
increases increases increases
The cash flow statement is also affected since cash from financing activities increases by $240,000. The statement of shareholders' equity is also affected because equity increases by $240,000.
The income statement is not affected.
Answer:
Nominal, real
Explanation:
Nominal variables are measured on normal and ideal scales. Nominal values do not account for factors such as inflation that can cause value of an object to appreciate or depreciate.
Real variables on the other hand are those that take into account various factors that can change the value of something. For example of the value of a good was $300 and now due to inflation the relative value will decrease and might give $200. So the value of the item is reduced.
The selling price is $ 1140.
<u>Explanation</u>:
Given, average wage for employees per hour = $ 12
Overhead work wage per hour = $ 18
mark up over cost = 20%
Job M-47 took 20 hours, so it would be
=(average wage cost + overhead cost)
markup over cost + material used cost
= ($ 12 + $ 18)
20 + $ 350
= $ 600 + $ 350 of materials
= $950
Total cost = $ 950
1.2 (the 20% mark up over cost)
= $ 1140.
The selling price is $ 1140.
Answer:
$765,400
Explanation:
This can be calculated step by step below:
Ending inventory at base-year-prices = current inventory at end of year prices / Current index = $825,000 / 1.1 = $750,000
Real-dollar quantity increase in inventory = Ending inventory at base-year-prices - Beginning inventory or base year layer = $750,000 - $596,000 = $154,000
Value of real-dollar quantity increase in inventory = Real-dollar quantity increase in inventory * Current index = $154,000 * 1.1 = $169,00
Dollar-value LIFO Ending inventory = Beginning inventory + Value of real-dollar quantity increase in inventory = $596,000 + $169,00 = $765,400.
Therefore, the ending inventory using dollar-value LIFO is $765,400.
Answer:
28.3%
Explanation:
The formula to calculate the final amount for compound interest is:

where
A is the final amount
P is the principal
r is the rate of return
n is the number of times the interest is compound in a time t
t is the time
Here we have:
P = $12,000 is the principal
A = $87,881 is the final amount
t = 8 y is the time (8 years)
n = 1 , since interest is compounded every year
Therefore, solving for r, we find the rate of return:
![\frac{A}{P}=(1+r)^t\\r=\sqrt[t]{\frac{A}{P}}-1=\sqrt[8]{\frac{87,881}{12,000}}-1=0.283=28.3\%](https://tex.z-dn.net/?f=%5Cfrac%7BA%7D%7BP%7D%3D%281%2Br%29%5Et%5C%5Cr%3D%5Csqrt%5Bt%5D%7B%5Cfrac%7BA%7D%7BP%7D%7D-1%3D%5Csqrt%5B8%5D%7B%5Cfrac%7B87%2C881%7D%7B12%2C000%7D%7D-1%3D0.283%3D28.3%5C%25)