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Lilit [14]
3 years ago
7

Goldman Inc. was organized on June 1, 2014. It was authorized to issue 500,000 shares of $10 par common stock and 100,000 shares

of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.: 1. Issued 40,000 shares of common stock for $16 per share. 2. Issued 20,000 shares of the class A preferred stock for $52 per share. 3. Issued 60,000 shares of common stock for $20 per share. Required Prepare the stockholders’ equity section of the balance sheet immediately after these transactions have been recognized.

Business
1 answer:
sdas [7]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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Garden World uses the retail method to estimate its monthly cost of goods sold and month-end inventory. At May 31, the accountin
chubhunter [2.5K]

Answer:

The estimated inventory at May 31 is $352,549

Explanation:

In order to calculate the estimated inventory at May 31 we would have to calculate the following formula:

Estimated closing inventory=(resale of goods- sales in may)*(beginning inventory plus purchases/resale of goods

Estimated closing inventory=($1,020,000-$400,000)*($580,000)/$1,020,000)

Estimated closing inventory =($620,000*$580,000)/$1,020,000

Estimated closing inventory =$352,549

The estimated inventory at May 31 is $352,549

8 0
3 years ago
Why do i sometimes need to chose between my wants and needs
maksim [4K]

Answer: needs are more important than wants ! you need to water to survive but want the new PS5.

Explanation:

8 0
1 year ago
Consider 2 companies, each selling athleticware and each with a focused differentiation strategy. It is NOT possible for both of
Scorpion4ik [409]
It is possible 1 may sell more than the other or may be somewhat equal I would say false because the companies have different strategies they may each do better things than the other in certain aspects. I would say False but I apologize if I am wrong
3 0
3 years ago
Otis, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot sleep w
Mandarinka [93]

Answer:

Panic

Explanation:

A panic attack is the abrupt onset of intense fear or discomfort that reaches a peak within minutes and includes at least four of the following symptoms: Palpitations, pounding heart, or accelerated heart rate. Sweating. Trembling or shaking. Sensations of shortness of breath or smothering.

7 0
3 years ago
Read 2 more answers
The ledger of Rios Company contains the following balances after adjustments: Retained Earnings $30,000; Dividends $2,000; Servi
ch4aika [34]

Answer:

Service Revenue 50,000 debit

    Income summary  50,000 credit

--to close revenues accounts--

Income summary        34,000 debit

  Salaries and Wages Expense 27,000 credit

  Supplies Expense                      7,000 credit

--to close expenses accounts--

Income summary        2,000 debit

  Dividends                          2,000 credit

--to close dividends account--

Income summary       14,000 debit

  Retained Earnings          14,000 credit

Explanation:

To close the temporary accounts which are, revenues, expenses and dividends we will use an auxiliary account called Income Summary

Then, once all are closed we transfer their balance into retained earnings:

  Income summary

DEBIT           CREDIT

                    50,000

34,000

<u>  2,000                          </u>

       Balance 14,000

7 0
3 years ago
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