Answer:
Explanation:
Issued 20,000 shares of $8 par common stock for $26 a share; brings total shares outstanding to 50,000 shares
Bank A/c………Dr. 520000
To Share Capital A/c. 160000
To Paid in excess of par 360000
Issued 6,000 shares of $100 par, 6%, cumulative preferred stock for $150 per share
Bank A/c………Dr. 900000
To Preferred Stock A/c. 600000
To Paid in excess of par. 300000
When the market value of the common stock reached $15 a share, company A declared a 3-for-1 stock split reducing the par value to $188 per share.
Share Capital (par value at 8) 400000
To Share Capital (par value at 2.67)
400000
Answer: $0
Explanation:
The cyclical deficit occurs when there is a different between the actual output and the potential output. This is why it is calculated by the formula:
= Tax rate * ( Potential output - Actual output)
As the economy here is at the potential output, it means that both the actual and the potential output are the same. In such a case, there would be no cyclical deficit.
This can be proven by the formula:
= Tax rate * ( Potential output - Actual output)
= 30% * (0)
= $0
Answer:
assets = liabilities + equity
a) NA - $6,400 AP
<u>+ $6,400 NP</u>
net effect $0
b) NA + $128 interest - $128 retained
payable earnings
c) -$6,528 cash -$6,400 NP NA
-$128 interest p.
revenue - expenses = income
a) NA NA NA
b) $0 $128 -$128
c) NA NA NA
Breakeven point in units=
Fixed cost÷[selling price-variable cost]
Breakeven point in units
=750÷(3.75−1.25)
=300 units
Answer:
Answer to every question is in the explanation section
Explanation:
a) On December 1 supplies are purchased for 2000$ cash.
b) Insurance premiums of the company were prepared for $1,540 cash on December 2.
c) The company received an advance payment of 13000$ cash on December 15.
d) For a remodeling work, the company received a payment of 3700$ cash in January.
e) The company has $1,840 of supplies accessible.
f) Insurance policy analysis shows that 340$ insurance coverage has expired.
3) 5570$ advance cash was received for a remodeling project
