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zhannawk [14.2K]
3 years ago
7

Western Wear Clothing issues 1,600 shares of its $0.01 par value common stock to provide funds for further expansion. Assuming t

he issue price is $13 per share, record the issuance of common stock.
Business
1 answer:
Kaylis [27]3 years ago
7 0

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

Cash Dr, (1,600 shares × $13 per share) $ 20,800

          To Common Stock (1,600 shares × $ 0.01 par) $16

         To Additional Paid in Capital in excess of par-Common Stock $20,784

(Being Issuance of common stock is recorded)

Therefore for recording the issuance of common stock we debited cash and credited common stock and additional Paid in Capital in excess of par common stock

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If Decker had a financing deficit, it could remedy the situation by a. paying down its long-term debt b. paying a special divide
Rudik [331]

Answer:

c. borrowing on its line of credit.

Explanation:

Line of credit denoted as LOC is a form of borrowing which is known to be a flexible form of taking loans. In this borrowing platform, one can borrow a certain amount of money and still borrow more even without paying the initial dept, this primarily makes it flexible. In giving this loans their a certain factors that aid qualify one in getting access to this loan, and this includes the individual credit score and good usage of his/her online purchasing medium without faulting or breaking codes of conducts.

8 0
3 years ago
In the Vasquez Corporation, any overapplied or underapplied manufacturing overhead is closed out to Cost of Goods Sold. Last yea
Crank

Answer:

$69,000

Explanation:

Calculation for overapplied or underapplied manufacturing overhead

Using this method

Manufacturing overhead=Cost of Goods Manufactured-( Actualmanufacturing overhead cost-Applied manufacturing overhead cost to job)

Let plug in the formula

Manufacturing overhead=71,000-(27,000-29,0000)

Manufacturing overhead=71,000-2,000

Manufacturing overhead=$69,000 overapplied

Therefore Manufacturing overhead for the year will be $69,000 overapplied

6 0
3 years ago
The chart of accounts includes assets, liabilities, and owner's equity accounts only. TRUE or FALSE.
posledela
The right answer for the question that is being asked and shown above is that: "TRUE." T<span>he chart of accounts includes assets, liabilities, and owner's equity accounts only. This statement is true as far as the chart of accounts is concerned.</span>
8 0
4 years ago
State and local governments in the United States share the costs of criminal justice by making ________ primarily a local functi
Marta_Voda [28]

Answer:

The correct word for the blank space is: policy protection; corrections.

Explanation:

Policy protection is related to the regulation of individuals' reckless behavior such as <em>abuse or trafficking of drugs, theft, domestic violence, school safety, and juvenile misbehavior</em>. Local governments -counties and districts- have the power to enforce law over those matters until their jurisdiction allows it.

Criminal corrections involve all the penalties a state must impose on individuals who committed improper behavior and were against the law, thus, they must be punished.

6 0
3 years ago
Where could student researchers and/or student subjects find additional resources regarding the IRB approval process? (There may
Softa [21]

Answer:

Answers are: Option b, i.e. Faculty Advisor/ Research mentor

                       Option d, i.e. IRB Office

Explanation:

IRB, also known as Institutional Review Board, is an ethical review board or committee whose main purpose is to protects the rights of various human subjects who are someway or the other are involved in the research activity. Various additional resources related to IRB approval process can be found with the Faculty Advisor/ Research mentor and also at IRB Office.  

7 0
4 years ago
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