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laiz [17]
3 years ago
5

Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $40,000 cash in exchange for co

mmon stock. Identify the general journal entry below that Innovation Consulting will make to record the transaction.
a. Cash 40,000
Common Stock 40,000

b. Common Stock 40,000
Cash 40,000

c. Accounts Receivable 40,000
Cash 40,000

d. Investments 40,000
Common Stock 40,000

e. Cash 40,000
Note Payable 40,000
Business
1 answer:
IceJOKER [234]3 years ago
6 0

Answer:

a. Cash $40,000

Common Stock $40,000

Explanation:

When the owners of a business or sole stockholder provides cash to run the activities of the business in exchange for common stock, such cash is recognized as equity.

To the business, an assets has been added in form of cash, but then, this asset results in an obligation not to a 3rd party but to the owner of the business.

Hence assets and equity are said to have increased as a result of this transaction.

The required entries are debit cash and credit common stock.

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your client began purchasing shares of the gro mutual fund two years ago. she has followed a dollar cost averaging approach by i
Tems11 [23]

The client's average cost per share of GRO is $40.61

<h3>What is the cost per share of stock?</h3>

The most recent price at which a stock has traded is known as the "share price," or market price per share of stock. When the price a buyer is prepared to pay for a stock meets the price a seller is willing to accept for a stock, it happens as a result of market forces. Divide the total cost of the acquisition by the number of shares purchased to arrive at the average price per share.

Given:

Net asset value of fund(X)  Number of shares purchased(Y)            X×Y

$                             44.44                                            45                     $1,999.80

$                             38.46                                            52                     $1,999.92

$                             33.90                                            59                     $2,000.10

$                             48.78                                             41                      $1,999.98

Total                                                                            197                     $7,999.80

Client's average cost per share                                                                                  $ 40.61

Average cost per share = 7999.80/197 = $40.61

To learn more about average cost per share, visit:

brainly.com/question/10375920

#SPJ1

5 0
1 year ago
March 1, 2017, Alpha Company's beginning work in process inventory had 8,000 units. This is its only production department. Begi
Nikolay [14]

Answer:see attached file

Explanation:

4 0
3 years ago
Read 2 more answers
Using the data set below, what would be the forecast for period 5 using the exponential smoothing method? Assume the forecast fo
elena55 [62]

Answer:

The answer is C: 14300

Note: The actual answer is 14296, <em>and </em>the closest to that was option C.

Explanation:

Formula to calculate forecast using Exponential smoothing:

  •    F_{t} = F_{t-1} + \alpha ( A_{t-1} - F_{t-1} )

Where,

  • F_{t} = New Forecast
  • F_{t-1} = Previous period's forecast.
  • \alpha = Smoothing Constant
  • A_{t-1} = Previous period's Actual Demand.
  1. Calculating the forecast for period 5:

Data:

  • F_{5} = ?
  • F_{t-1} = 14000
  • \alpha = 0.4
  • A_{t-1} = 14750

Putting <em>values in the formula:</em>

F_{5} = 14000 + 0.4(14750-14000)

F_{5} = 14000 + 0.4 (740)

F_{5} = 14000 + 296

F_{5} = 14296

4 0
3 years ago
When you finance a car,the car then becomes __ for th loan.
matrenka [14]
The best answer to the question that is being presented above would be collateral. When you finance a car, the car then becomes the collateral or the pledge of the property for the loan. This is so that the payment system is attained securely and to avoid escaping from due payment.
4 0
3 years ago
Read 2 more answers
The production possibilities frontier provides an illustration of the principle that a. people respond to incentives. b. trade c
Mekhanik [1.2K]

Answer:

d. people face trade-offs.

Explanation:

The production possibility frontier shows all the combinations of two goods an economy can produce when all its resocurces are fully employed.

At one extreme of the curve, the highest possible amount of one good is produced while zero quantity of the second good is produced . To produce more quantity of the second good, one has to produce less quantity of the first good. This illustrates trade off.

I hope my answer helps you

7 0
3 years ago
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