Answer:
Answer for the question:
Windsor Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $107,000. (a) Prepare the journal entry for the issuance when the market price of the common shares is $164 each and market price of the preferred is $205 each. (b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $184 per share. (Round answers to 0 decimal places, e.g. $1,225. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) enter an account title for case A
is given in the attachment.
Explanation:
739,000 - 219,000 = 520,000
The net assets are assets minus liabilities, so it is $520,000 in this case.
Answer:
The correct answer is 'Option (b)
Explanation:
Cole co. should compare between actual interest incurred on all the debts and the calculated interest on weighted average accumulated expenditure and lower of these two should be capitalized.
Actual interest incurred =$50,000+20,000 = $70,000
Calculated interest = $40,000
Lower of these two to be capitalized for the building during 2011= $40,000
Answer: $50000
Explanation:
Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:
= $4500 - (10% × $40000)
= $4500 - $4000
= $500
Then, the money supply that's expanded will be:
= Excess reserve / Reserve ratio
= $5000 / 10%
= $5000 / 0.1
= $50000
Therefore, the answer is $50,000.
Answer:
What
How
Who
Explanation:
Because ALL economic resources are scarce, every society must answer three questions:
1. What goods and services should be produced?
2. How should these goods and services be produced?
3. Who consumes these goods and services?
