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3 years ago

The following information is from the December 31, 2017 balance sheet of Jackson Corporation

Business

1 answer:

blsea [12.9K]3 years ago

7 0

Answer:Average issue price = $105--b

Explanation:

Preferred stock , $100 par = $260,000

number of shares issued =Preferred stock / par value preferred stock= =$260,000 / $100 = 2,600 shares

Paid in capital in excess of par = total issued price - preferred stock

total issued value = paid in capital in excess of par preferred stock + preferred stock = 14,000 + 260,000=$274,000

Average issue price = Total issue price / number of shares issued = $274,000/ 2600= 105.38 = $105

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Assume a $1,000 Treasury bill is quoted to pay 8% and matures in 3 months. 1. How much interest would an investor receive? (10 p

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i dont know

Explanation:

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2 years ago

On January 1, 2021, David Mest Communications granted restricted stock units (RSUs) representing 30 million of its $1 par common

erastova [34]

Answer:

1. December 31, 2018

Dr Compensation expense $150 million

Cr Paid-in capital - restricted stock $150 million

2. December 31, 2019

Dr Compensation expense $132 million

Cr Paid-in capital - restricted stock $132 million

3. December 31, 2020

Dr Compensation expense $141 million

Cr Paid-in capital-restricted stock $141 million

Explanation:

1. to 3. Preparation of the appropriate journal entry to record compensation expense on December 31, 2018. December 31, 2019. and December 31, 2020

1. Preparation of the appropriate journal entry to record compensation expense on December 31, 2018

First step is to determine the Total compensation expense

Total compensation =$15 per share x 30 million options granted = $450 million total comp.

1.Preparation of the appropriate journal entry to record compensation expense on December 31, 2018

December 31, 2018

Dr Compensation expense $150 million

($450 million/3 years )

Cr Paid-in capital - restricted stock $150 million

(To record compensation expense)

2. Preparation of the appropriate journal entry to record compensation expense on December 31, 2019

December 31, 2019

Dr Compensation expense $132 million

[($450 million*94%*(2/3))-$150 million]

(100%-6%=94%)

Cr Paid-in capital - restricted stock $132 million

(To record compensation expense)

3. Preparation of the appropriate journal entry to record compensation expense on December 31, 2020

December 31, 2020

Dr Compensation expense $141 million

[($450 million*94%)-$150 million -$132 million]

Cr Paid-in capital-restricted stock $141 million

(To record compensation expense)

8 0

3 years ago

The capital projects fund of Hood River completed construction of an addition to its city hall at a cost of $4,000,000. The city

Vanyuwa [196]

The capital projects fund account for the 10 percent retainage as (B) II only.

<h3>What is retainage?</h3>

Retainage is a percentage of the agreed-upon contract price withheld until the work is substantially completed to ensure that the contractor or subcontractor will fulfill its responsibilities and complete a construction project.
Retention is money kept back by one party in a contract as security for unfinished or defective work.
Assume the contract is worth $20,000 and you're submitting a paid app after finishing 25% of the work.
So you earned $5,000 during the pay period, but retainage is 5%. The current progress payment has been reduced by $250.
As a result, the "Amount Due for this Request" will be $4,750.

So, in the given situation the capital projects fund account for the 10 percent retainage as (II) the credit for $400,000 to Contracts Payable-Retained Percentage, that is (B) II only.

Therefore, the capital projects fund account for the 10 percent retainage as (B) II only.

Know more about retainage here:

brainly.com/question/24101126

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The correct question is given below:
The capital projects fund of Hood River completed the construction of an addition to its city hall at a cost of $4,000,000. The city council approved payment of the amount due to the general contractor, less a 10 percent retainage. How should the capital projects fund account for the 10 percent retainage?

I. As a credit of $400,000 to Deferred Revenue-Retained Percentage

II. As the credit for $400,000 to Contracts Payable-Retained Percentage.

A. I only

B. II only

C. Either I or II

D. Neither I nor II

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1 year ago

Identify at least one type of firm that might exhibit low correlations of returns with the overall stock market? explain why the

svlad2 [7]

<span>One firm that is historically low and deals with negatively correlated stock markets is Gold Extraction Companies. They are have very low correction with overall stock markets. The basic reason for this low correlation is that, as the stock market become bearish, investor sentiment becomes weak, due to which most of the investors withdraw their money from stock market. Now once investor has withdrawn the money from stock market , they search on safe investments which will provide them good reruns, Gold is one of the investment which is relatively safe and provide high returns. Thus withdrawn money from the share market is invested in gold by investors. Thus Gold prices and companies related to extraction of gold have very less correlation to the gold.</span>

6 0

3 years ago

On December 31, 2019, Spearmint, Inc., issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. After recording the rela

cluponka [151]

Answer:

Interest expense 18,284.17 debit

Premium on BP 1,965.83 debit

Cash 20,250 credit

Explanation:

procceds 461,795

face value 450,000

premium on bonds payable 11,795

As the cash received exceed the face value then, the bonds were isued at premium.

This will be amortized over the bonds life

3-year bonds with semiannual payment: 6 payment in total

amortization per payment:

11,795 / 6 = 1.965,83

The will post:

the cash disbursement in favor of the bondholder:

450,000 x 9%/2 = 20,250

amortization (1,965.83)

interest expense: 18.284,17‬

3 0

3 years ago

Read 2 more answers