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:
Lead generation.
Explanation:
Selling process can be defined as the steps which must be taken by a sales representative when selling a particular product. The selling process begins with identification of potential customers that are willing to purchase the product.
Lead generation is the process of getting customers to buy a product, It involves creating an awareness of the product. This is the initial stage of a selling process.
Lead generation begins with identifying the group of customers to sell to, marketing your products through different mediums, maintaining constant communication with the customers.
Answer:
Joshua statement is correct.
Explanation:
Marginal cost:
Is the cost of producing a new unit.
Average Cost:
If the marginal cost of this plant is lower than their other plants, it can decrease his average cost by increasing the amount produced.
This increase in production decrease the impact of the fixed cost in the unit price. At more production the average cost will decrease. Because the variable cost keeps at the same value but the fixed cost per unit decrease.
Answer:
60%
Explanation:
To calculate the percentage assigned to cost of goods sold
, we should use the formula:
= 60%
Therefore, the percentage assigned to Cost of goods sold is 60%
Answer:
B. Income Tax Expenses
Explanation:
The Purpose of the Income Statement in Financial Statement Preparation is to ascertain the profit or loss of a business entity for a particular year. Usually, the format is as follows:
1. Gross Profit= Sales- Cost of Goods sold(Opening Inventory + Purchases- Closing Inventory)
2. Net Profit/ Net Loss = Gross Profit + Other Revenues and Gains - Expenses for the period.
However, income tax expense is only calculated when the net profit has been ascertained. It is usally referred to as net income before tax. It is based on this figure, that the income tax expense is then calculated based on prevailing income tax percentage.
Every other part of the income statement covers a section, but all sections should be calculated and concluded before the income tax expense can be calculated and then subtracted to arrive at the final income tax.
