Answer:
The journal entries relating to the conversion of preferred stock to common stock are highlighted below:
Dr Preferred stock                                                 $45,000
Dr Paid-in capital in excess of par                        $9,900
Cr Common stock                                                                           $18,000
Cr Paid-in capital in excess(balancing figure)                                $36,900
Explanation:
Find in the attached the detailed computations of the amounts above.
 
        
             
        
        
        
Answer:
overstated
Explanation:
Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened. 
However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.
Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED
 
        
             
        
        
        
Answer: im also working on my school work and i also need help i tried to work on that question im confused but i know that 22,567-97% is 677.01
 
        
             
        
        
        
Answer:
variable costs
manufacturing supplies =$14000
production supervisor wages=$135,000
power and light=$48000
production control wages=$32000
materials management wages=$39000
total=$268000
fixed costs
factory insurance =$30000
factory depreciation =$22000
<u>Total= $52000</u>
 
        
             
        
        
        
B, you don’t have enough profit