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Serga [27]
3 years ago
15

On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par common stock at $18, and on Nov

ember 19, it issued for cash 50,000 shares of preferred stock, $75 par at $80. a. Journalize the entries for October 31 and November 19.
Business
1 answer:
ivann1987 [24]3 years ago
8 0

Answer: The answer is as follows:

Explanation:

Journal entries are as follows:

For October 31:

Cash  (400,000 × $18)                   $7,200,000

Common stock  (400,000 × $10)                                          $4,000,000

Paid in capital in excess of par value-common stock         $3,200,000

( record of issuing common stock)

For November 19:

Cash  (50,000 × $80)                    $4,000,000  

Preferred stock (50,000 × $75)                                             $3,750,000

Paid in capital in excess of par value-Preferred stock        $250,000

( record of issuing preferred stock)

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Answer:

b. $88,204

Explanation:

The computation of the carrying value of the note payable is shown below:

= Present value of the notes + interest

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3 years ago
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Explanation:

 The promotion is one of the important business strategy that helps in spread the awareness among the customers or users about the various types of brands and products by an organization.

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3 years ago
Enviro Company issues 8%, 10-year bonds with a par value of $250,000 and semiannual interest payments. On the issue date, the an
vichka [17]

Answer: 1. $218750 ; 2. $231, 250 ; 3. $11562.50

Explanation:

1. The bonds with a par value of $250,000 and implied selling price of 87 ½.

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The choice that does not describe the balance sheet is D. The balance sheet contains only assets and liabilities sections.

Balance sheet is one of a company's financial statement. It is also known as the statement of financial position. It represents the the company's financial position at the end of a specified date.

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3 years ago
What if, instead of making jet fighter experience a requirement to become an astronaut, NASA instead offered higher salaries to
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Answer:

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However, the difference would lie in that there would also be some austronauts without jet figther experience, who would still try to get into NASA, despite being offered lower wages.

This is a different situation to the current one, where jet fighter experience is an requirement to become a NASA austronaut, which means that those without this type of experience are barred from entering NASA, no matter how low of a wage they would be willing to take.

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