1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
padilas [110]
3 years ago
13

When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000 share of $10 par value common sto

ck. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 8,500 shares of stock at a price of $16 per share.
The entry to record the above transaction would include a
A. debit to Cash for $85,000
B. credit to Common Stock for $136,000
C. credit to Paid in Capital in Excess of Par for $51,000
D. debit to Common Stock for $85,000
Business
1 answer:
SOVA2 [1]3 years ago
8 0

Answer:

Option (C) is correct.

Explanation:

The Journal entry is as follows:

Cash A/c (8,500 × $16) Dr. $136,000

      To  Common stock  $85,000          

       To Paid in Capital in Excess of Par $51,000

Workings:

Common stock:

= Shares of stock × Par value of stock

= 8,500 shares × $10

= $85,000

Paid in Capital in Excess of Par:

= 8,500 shares × ($16 - $10)

= 8,500 shares × $6

= $51,000

You might be interested in
The next time you need to make a choice, your brain will use what what method?
Katarina [22]

Answer:

Imagine you have just flicked a lighter. If you don’t see the flame, you will naturally try a second time. If after the second attempt it does not strike a flame, you will repeat your action again and again until it does. Eventually, you’ll see the flame and you’ll know that your lighter works. But what if it doesn’t? How long are you going to flick the lighter until you decide to give up?

Our everyday life is full of such decision dilemmas and uncertainty. We constantly have to choose between options, whether we make the most ordinary decisions – should I continue flicking this lighter? – or life-changing choices – should I leave this relationship? We can either keep on doing what we are already used to do, or risk unexplored options that could turn out much more valuable.

Some people are naturally inclined to take more chances, while others prefer to hold on to what they know best. Yet being curious and explorative is fundamental for humans and animals to find out how best to harvest resources such as water, food or money. While looking at the Belém Tower – a symbol of Portugal’s great maritime discoveries – from my office window, I often wonder what drives people to explore the unknown and what goes on in their brains when weighing pros and cons for trying something new. To answer these questions, together with Dr. Zachary Mainen and his team of neuroscientists, we investigate how the brain deals with uncertainty when making decisions.

Explanation:

It is well known that the decision-making process results from communication between the prefrontal cortex (working memory) and hippocampus (long-term memory). However, there are other regions of the brain that play essential roles in making decisions, but their exact mechanisms of action still are unknown.

4 0
2 years ago
Ira orally agrees to buy a unique collection of sports memorabilia for $1,000 from Jane and sends her $250 as a down payment. Wh
OLEGan [10]

Ira should seek specific performance.

  • A particular remedy called specific performance is utilized by courts when no other option, such monetary compensation, will fully satisfy the other party. The court will choose that option instead if it will put the injured party in the same situation as if the contract had been fully completed.
  • A court may order a party to carry out a specific conduct, such as completing the contract's performance, as a form of equitable relief under the law of contracts.
  • If damages are a suitable alternative, it is normally not accessible but is typically available in the sale of land law. Contracts for personal services nearly seldom allow for specific performance.

Thus this is the answer.

To learn more about Contracts, refer: brainly.com/question/984979

#SPJ4

6 0
1 year ago
It is theorized that the price per share of a stock is inversely proportional to the prime​ (interest) rate. In January​ 2010, t
Zanzabum

Answer:

price per share in March is $96

Explanation:

given data

January price per share = ​$193.04

January prime rate = 2.75%

march prime rate = 5.50​%

to find out

What was the price per share in March

solution

we know that here price is proportional to prime rate

Price ∝ \frac{1}{rate}   ........1

so price = k ×  \frac{1}{rate}      ...............2

k is constant here

so put all value for january

193.04 = k ×  \frac{1}{2.74%}

k = 5.28

so for  march price per share will be by equation 2

price = 5.28 ×  \frac{1}{5.50%}

price = 96

so  price per share in March is $96

3 0
3 years ago
Employees who are willing to step forward, usually at great personal sacrifice, to reveal wrongdoing of the part of their employ
Softa [21]

Answer:

They are guilty of nothing, what they are doing is called whistle-blowing and it is not a crime, it a way of stopping crimes from being committed.

Explanation:

A whistle-blower is an employee or any person within an organization that informs about illegal activities carried out within the organization. Sometimes whistle-blowers can even earn money form doing the right thing. For example, the IRS pays whistle-blowers up to 30% of additional money it collects by using information provided by whistle-blowers.

6 0
3 years ago
You are analyzing a project with an initial cost of £130,000. The project is expected to return £20,000 the first year, £50,000
Mashutka [201]

Answer: Net Present Value = -$19,062

Explanation:

First, we'll compute the PV for the respective years

Present Value (Year-1)

= 0.6211 \times [1 + (0.055 - 0.06)]^{1}

=0.6179945

Present Value (Year-2)

= 0.6211 \times [1 + (0.055 - 0.06)]^{2}

=0.614904528

Present Value (Year-3)

= 0.6211 \times [1 + (0.055 - 0.06)]^{3}

=0.611830005

Now, we'll compute the Cash Flow for the respective years

Cash Flow (Initial)

= -130,000\times (\frac{1}{0.6211} )

= -$209,306.07

Cash Flow (Year-1)

=20,000\times (\frac{1}{0.61799} )

=$32,362.75

Cash Flow (Year-2)

=50,000\times (\frac{1}{0.61490} )

=$81,313.44

Cash Flow (Year-3)

= 90,000\times (\frac{1}{0.611830} )

=$147,099.68

Net Present Value:

= -$209,306.07 + ($32,362.75/1.141)+ ($81,313.44/1.142) +($147,099.68/1.143)

= -$209,306.07 +$28,388.38 + $62,568.05 + $99,288.10

= -$19,062

3 0
3 years ago
Other questions:
  • Antonio has a number of employees who report to him. he has been considering how to motivate these employees to higher levels of
    9·1 answer
  • The primary purpose of the requirements analysis phase is to ________. eliminate obviously nonsensible projects before forming a
    7·1 answer
  • Bill and his wife, Vickie, want to start a company that develops training sessions for corporate clients. They would like to sha
    6·2 answers
  • You have to make a college choice by the end of the month, and you have been accepted by three schools. your parents want you to
    7·1 answer
  • Until the 2003 playoffs, NBA had used a best-of-five format for the first-round series, that is, the series would end as soon as
    12·1 answer
  • Suppose Megan is considering emigrating from her home country.
    12·1 answer
  • PLEASE HELP, TIMED
    5·2 answers
  • Make a budget of 2000 dollars for a grade six pupil​
    8·1 answer
  • Desmond has a signed listing agreement with his clients, the Harpers. In exchange for helping the Harpers list, market, and sell
    11·1 answer
  • Mcclelland's research suggests that the need for achievement is?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!