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Elza [17]
3 years ago
7

Ace Co. issued 1,000 shares of its $10 par value common stock for $15 per share in cash. How should this transaction be reported

in Ace's statement of cash flows for the year of issuance
Business
1 answer:
Lana71 [14]3 years ago
3 0

Answer:

$15,000 cash inflow from financing activities

Explanation:

Financing operations: it records operations concerning long-term debt and equity balance of shareholders. The issuance of the shares is an inflow of cash while other redemption and dividend are an outflow of cash

Since 1,000 shares are issued at $10 par value for $15 per cash

Here we record the $15,000 as cash inflows as this represents that the capital introduced in the business and the same is to be considered

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Strait Co. manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total
AlekseyPX

Answer:

c. $52,670

Explanation:

The computation of the fixed cost and the variable cost per hour by using high low method is shown below:

Variable cost per desk = (High cost - low cost) ÷ (Highest production - lowest production)

= ($82,700 - $63,300) ÷ (3,500 desk - 1,240 desk)

= $19,400 ÷ 2,260 desk

= $8.58

Now the fixed cost equal to

= High cost - (High production × Variable cost per desk)

= $82,700 - (3,500 desk × $8.58)

= $82,700 - $30,030

= $52,670

6 0
3 years ago
Non price determinants are held _____ for any given demand curve
Korvikt [17]
<span>Non price determinants are held constant for any given demand curve.
</span>Changes in nonprice determinants of demand that affect the opportunity cost or benefits of buying a good<span> cause shifts in the demand curve.</span>
6 0
3 years ago
LO 4.6Why is the manufacturing overhead account debited as expenses are recognized and then credited when overhead is applied?
Klio2033 [76]

Answer:

Explanation:

Manufacturing overhead records all the expenses like salaries payable which come under indirect labor. Manufacturing overhead includes all those indirect costs which are related to the factory-like - factory rent, factory repairs, depreciation on factory equipment, property taxes

For recognized expense, the journal entry would be

Factory overhead A.c Dr

        To Expenses A/c  

(Being expense recognized)

Since the cost is actually incurred so this above entry should be made

And, the journal entry for applied overhead is shown below

Work in progress inventory A/c Dr XXXXX

      To Factory overhead A/c XXXXX

(Being overhead applied is recorded)

Since applied overhead is based on predetermined overhead rate so we credit the factory overhead and debit the work in progress inventory

7 0
3 years ago
On January 1, 20X1, Cobalt Company purchased a building for $140,000 that has an estimated salvage value of $8,000 and an expect
Assoli18 [71]

Answer:

$28,000

Explanation:

Data provided in the question:

Cost of the building purchased = $140,000

Estimated salvage value = $8,000

Expected useful life = ten years

Now,

Annual rate of depreciation using the double-declining-balance method

= 2 × [ 100% ÷ (Useful life )]

= 2 ×  [ 100% ÷ 10 ]

= 2 × 10%

= 20% or 0.20

Therefore,

Depreciation expense for 20X1 = Cost of building × Rate of depreciation

= $140,000 × 0.20

= $28,000

4 0
3 years ago
GIVING BRAINLIEST
Gennadij [26K]

Answer:

yes, start selling stuff

ex) start a closet on IG, sell on ETSY, Mercardi

2. invest money in stocks its a risk but your money can increase or decrease just make a smart buy

Explanation:

plz mark brainliest

8 0
3 years ago
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