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Mars2501 [29]
3 years ago
10

Someone please help me thank u

Business
1 answer:
zavuch27 [327]3 years ago
4 0
Can you please try to take a better pic
You might be interested in
If the par value of a stock is $5 and the offering price of the stock is $2, the capital in excess of par is:
mr_godi [17]
You cannot compute for the capital in excess of par since you don’t have the number of shares but let us assume there are 100,000 shares.

If the Company sell 100,000 shares of its common stock for $2 per share, and the par value of each share is $5, then the amount of the capital in excess of par is 100,000 shares x $3/share, = 300,000 and is recorded:

Cash 500,000  

      Common stock ($2 x 100000) 200000

      Additional Paid-In Capital($3 x 100000) 300000
4 0
3 years ago
Sunland Company had the following two transactions related to its delivery truck. 1. Paid $38 for an oil change. 2. Paid $564 to
Jobisdone [24]

Answer:

  • 1. Paid $38 for an oil change.

$38 Maintenance Expenses  - DEBIT

$38 Cash - CREDIT

  • 2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.

$564 Delivery Trucks - DEBIT

$564 Cash - CREDIT

Explanation:

1. Paid $38 for an oil change  

$38 Maintenance Expenses  - DEBIT

$38 Cash - CREDIT

An oil change it's just an expenses of maintenance, which goes as General Expenses directly to the Income Statement.  

 

2. Paid $564 to install special shelving units, which increase the operating efficiency of the truck.  

$564 Delivery Trucks - DEBIT

$564 Cash - CREDIT

The installations of shelving units it's an improvements in the company's fixed assets, therefore, assets improvements are activated as fixed assets in the non-current assets section of the balance sheets.  

6 0
3 years ago
Can someone help me with these 2 questions
Sauron [17]

Answer:the first one is correct

and the second one

Explanation:

5 0
2 years ago
GASB has issued a proposed standard that would more clearly define fiduciary activities and change the categories of fiduciary f
kramer

Answer:

a. Custodial fund

Explanation:

Custodial transaction and fund refers to the transaction, in which there is a beneficiary and a responsible. The responsible person manages the transactions of custodial account, and takes proper care of return and investment on such account.

This is basically an agency service as the person who is beneficiary is just depositing the amount top be invested which is then taken care of as an agent.

The correct option is a.

Custodial Fund.

3 0
3 years ago
How much of the following is taxable? a. Cheline, an actress, received a $6,400 gift bag for attending the Academy Awards Ceremo
Bingel [31]

Answer:

A. $6,400

B. $240

C. $1,000,000

D. $30,000

Explanation:

Requirement A, C, and D:

Prizes and awards are taxable income for a taxpayer. Any awards or prizes won from the lottery or television should be added to the income. Therefore, the Winning lottery is a taxable income for Kerry, $1,000,000. Again, Receiving the award for scientific research is also taxable income for Deborah, $30,000.

The winning award for accomplishments is also a taxable income. So, receiving a $6,400 worth gift bag is a taxable income for Cheline.

Requirement B:

There is an exception if the award is for tangible property and a long-years of accomplishment. At that time, the taxpayers will be excluded from some part of the necessary amounts to be paid as tax. If it is not a qualified award, the exclusion will be $400. If it is qualified, the tax exclusion is 1,600. Since Jon received a gold watch for 25 years of service and the gift is not qualified, he has to pay tax for $(660 - 400) = $240.

6 0
3 years ago
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