1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
If a market is in equilibrium is it necessarily true that all potential buyers and sellers are satisfied with the market​ price?
pav-90 [236]

Answer:

The correct answer is "no"

Explanation:

A market equilibrium occurs in those markets where consumer demand is equal to the amount offered by companies. But they don't necessarily have to be satisfied with the market price.

For example, if a product of basic need is in high demand, the price can be raised a lot which may not result in a fair price for the customer.

On the contrary, a low price on products puts potential competitors out of the market since many times due to production costs they cannot match these prices.

5 0
3 years ago
Ginormous Oil entered into an agreement to purchase all of the outstanding shares of Slick Company for $60 per share. The number
irga5000 [103]

Answer:

C. $4.92 billion

Explanation:

Acquisition cost refers to the cost a company pays for assets such as shares or fixed assets like machinery. In this case, the company paid $60 * 82 million, being $4.92 Billion.

5 0
3 years ago
When you purchase an item in a store, you may be charged __________.
jarptica [38.1K]
Taxes or fees
hope this helps :3
6 0
3 years ago
Read 2 more answers
Why is representative money more useful than commodity money?
love history [14]

<span>Representative money is portable, durable, divisible, and acceptable.</span>

8 0
3 years ago
Read 2 more answers
Emily Boyce, a project manager at an insurance firm, regularly satisfices while making decisions. She often comes across complic
grigory [225]

Answer:

B) search for solutions that are reasonable

Explanation:

When Emily solves her work problems by satisficing a large number of decisions, it means that she makes the decisions that are barely adequate to solve the issues. She doesn't take the time to make the best possible ones. Since she has a very tight work schedule, she doesn't have the time to search all the necessary information nor to search all the possible options. She doesn't have the time to analyze which alternative is best, she will take whatever option she finds first.

3 0
3 years ago
Other questions:
  • It is frequently possible to test the physical inventory prior to the balance sheet date whenA.the internal control system is no
    8·1 answer
  • Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected
    12·2 answers
  • Good Motors pays a lot of attention to improving employee skills on the job. Its training centers and mentors are open to one-on
    10·1 answer
  • During the High Middle Ages, the bureaucracies of England and France became increasingly staffed with Select one: a. canon lawye
    5·1 answer
  • Which type of account is typically the MOST liquid? Checking account Savings account Certificate of Deposit Exchange Traded Fund
    12·1 answer
  • When preparing the statement of cash flows using the indirect​ method, a decrease in current liabilities is added to the net inc
    6·1 answer
  • Consider a US firm sells a gas turbine generator to a British firm; in March 201x for British pound BP 1,000,000. Payment is due
    11·1 answer
  • When japanese plead "uniqueness" and claim that japanese skin is different so foreign cosmetics companies must test their produc
    11·1 answer
  • The Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 in.
    14·1 answer
  • AP North Company has completed all of its operating budgets. The sales budget for the year shows 50,000 units and total sales of
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!