Answer:
8.2%
Explanation:
As we know that:
r = (Future Value / Present Value)^(1/Time) - 1
Here
Future Value is $430,065.11
Present Value is $3,800
Time is 60 years
By putting values, we have:
r = ($430,065.11 / $3,800)^(1/60) - 1
r = (113.16)^(1/60) - 1
r = 1.082 - 1 = 8.2%
Answer:
E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.
Explanation:
Journal Entry for Issuance of 70 shares of $30 par value preferred stock for $4,000 is -
Cash Debited - $4,000
Paid in Capital in excess of Par value Credited - $1,900
Preferred Stock (70 shares × $30 each) Credited - $2,100
The correct option is - E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.
Answer:
Career or technical education.
Explanation:
Someone who wants credentials in skilled training, but in less time than a four- year degree should consider Career or technical education.
A technical education course is solely based on providing skilled training which will help the student to learn the practicalities in a shorter period of time.
They are focused on a specific kind of skilled training which you can use in your career. Technical education is also known by the name of a diploma which can be completed in a period of 2 years or even in a period of months.
Answer:
Capitalized Expenditures:
2. Added a new wing onto the office building.
5. Had an engine rebuilt in one of their fleet cars.
Explanation:
Capitalization is the process of delaying the full recognition of an expense for the acquisition of a new asset with long-term life so that the costs can be treated as an expense gradually over its useful life through an accounting method known as depreciation or amortization.
The criteria for capitalizing expenditure depend on whether the expenditure is necessary to bring the asset to the condition and location where it can be operated as desired by the management. It must also meet the threshold amount set by management for capitalization. This is because some assets can be used for more than one year and still they are not regarded as capital assets. Example is a stapling machine that costs less than a dollar.
Answer:
Date Account Titles and Explanation Debit Credit
Land $84,000
Common stock $12,000
Paid in capital in excess of par value $72,000
Workings:
Amount of Common stock = Number of shares * Paid in capital per share
= 6,000 shares * $2
= $12,000
Amount of excess of paid in capital = Market value of land - Amount of common stock
= $84,000 - $12,000
= $72,000
