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qaws [65]
3 years ago
7

Jameson Corporation was organized on May 1. The following events occurred during the first month.

Business
1 answer:
olya-2409 [2.1K]3 years ago
7 0

Answer:

Answer:

Date     General Journal                Debit          Credit

a.           Cash                                 $70,000

                   Common stock                              $5,000

                   (5*100 shares * $10)

                   Additional paid - in - capital          $65,000

b.          No journal entry required       -                      -

c.           Cash                                  $18,000

                     Notes payable (long term)             $18,000

d.            Equipment                      $11,000

                      Cash                                                $1,500

                       Notes payable (Short term)          $9,500

e.             Notes receivable          $2,000

                       Cash                                                $2,000

f.              Store fixtures                $15,000  

                       Cash                                                 $15,000

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7 0
2 years ago
What kind of business most often risks problems over who will do what kind of work and under what circumstances?
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7 0
3 years ago
Wilson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of
mrs_skeptik [129]

Answer:

Please see attached solution

Explanation:

a. Total manufacturing overhead costs allocated $356,400

b. Variable manufacturing overhead spending variance $40,500U

c. Fixed manufacturing overhead spending variance $17,600U

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Please find attached detailed solution to the above questions

5 0
3 years ago
International Imports (I2) pays an annual dividend rate of 10.40% on its preferred stock that currently returns 13.94% and has a
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Answer:

$74.61

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The computation of the value of preferred stock is shown below:

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Simply we divide the annual dividend by the value of preferred stock per share so that the correct value of preferred stock can be computed

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3 years ago
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julia-pushkina [17]

Answer: B) economic responsibilities toward its shareholders

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3 0
3 years ago
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