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mrs_skeptik [129]
3 years ago
11

The Snow Corporation issues 14,000 shares of $54 par value preferred stock for cash at $68 per share. The entry to record the tr

ansaction will consist of a debit to Cash for $952,000. What credit or credits will the entry consist of
Business
1 answer:
lorasvet [3.4K]3 years ago
8 0

Answer:

Preferred stock for $756000 and Paid-in Capital in Excess of Par Value - Preferred Stock for $196000

Explanation:

Given number of shares  = 14000

Par value of share = $54

Issued for cash = $68 per share

The cash debit amount = $952000

Preferred stock for $756000 and Paid-in Capital in Excess of Par Value - Preferred Stock for $196000

Cash (14000*68) Dr. 952000

Preferred Stock (14000*54) Cr. 756000

Paid in Capital in Par Value - Preferred Stock (14000*14) Cr. 196000

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We are using an algorithm
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3 years ago
Concord Company has recently tried to improve its analysis for its manufacturing process. Units started into production equaled
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Answer:

the material cost per unit is $4.60 per unit

Explanation:

The computation of the material cost per unit is shown below:

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The same should be considered and relevant

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3 years ago
6. Trade deficit and the currency depreciation Which approach to the relationship between exchange rates and the trade balance p
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Answer:

The absorption approach

Explanation:

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5 0
3 years ago
The total value of all productive assets multinational enterprises own and control abroad through investment is known as the rel
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Answer:

False

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3 0
3 years ago
What is one explanation for why this labor supply curve is upward sloping? the opportunity cost of leisure decreases as wages de
san4es73 [151]
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3 years ago
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