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
hjlf
3 years ago
15

During its first year of operations, Marigold Corporation had the following transactions pertaining to its common stock. Jan. 10

Issued 66,500 shares for cash at $6 per share. July 1 Issued 41,500 shares for cash at $8 per share.
Business
1 answer:
RideAnS [48]3 years ago
8 0

Answer:

Journalize the transactions is given below

Explanation:

given data

Issued =  66,500 shares

cash = $6 per share

Issued = 41,500 shares

cash = $8 per share

solution

we get here Journalize the transactions

and we assuming that the common stock has a par value of $6 per share

so

Jan. 10 cash is 66,500 × 6 = 399000

and cash for July 1  is = 41,500 × 8 = 332000

and common stock = 41,500 × 6  = 249000

paid in capital excess =  332000 - 249000 = 83000

Date             Account Titles                           Debit               Credit

Jan. 10          cash                                            399000

                    common stock                                                   399000

July 1             cash                                             332000

                     common stock                                                 249000

                     paid in capital excess                                      83000

You might be interested in
What does the term stability mean in the context of the reliability of a research study?
Diano4ka-milaya [45]

Answer:

The term stability in the context of reliability of a research study means that the degree to which the result of the research study is stable over a period of time.

Certain times the study is disregarded because it is no longer reliable and does not serve the present situation. If a research study is still valid throughout multiple time zones, specifically when it is being used in a different study, it is said to have a higher reliability index and can be trusted.  

5 0
3 years ago
McKinney Corporation had beginning retained earnings of $2,242,000 and ending retained earnings of $2,499,000. During the year,
musickatia [10]

Answer:

$297,000

Explanation:

In this question, we use the ending retained earning equation which is shown below:

Ending retained earning balance = Beginning retained earning balance + net income - dividends paid

$2,499,000 = $2,242,000 + net income - $40,000

$2,499,000 = $2,202,000 + net income

So, the net income = $2,499,000 - $2,202,000

                                =  $297,000

There is no use of the common shares issued in the computation part

6 0
3 years ago
A 76.00 pound flask of mercury costs $141.50. The density of mercury is 13.534 g/cm3. Find the price of one cubic inch of mercur
34kurt

Answer:

$1.862

Explanation:

given,

76 pound flask  of mercury costs $ 141.50

density  of mercury =  13.534  g/cm³

cost of 1 pound of mercury = \dfrac{141.5}{76}

                                             = $ 1.862

            1 pound = 453.59 g

price of 1 gm of mercury =  $ 1.862 / 453.50 = 0.0041

price of 1 cm³ of mercury = $ 0.0041

1 in³ = 16.39 cm³

price of  16.39 cm³of mercury = $ 0.0041 × 16.39

                                                 =  $0.061

hence, the price of 1 in³ of mercury = $0.061

hence, the  cost of 1 pound of the mercury comes out to be equal to $1.862

6 0
3 years ago
You usually go to the theater to see a lot of movies. Now you are considering buying a DVD player and renting movies instead. Yo
Romashka [77]

Answer:

You must watch minimum of 200 movies per month for the DVD player purchase to be a smart purchase.

Explanation:

Let assume that you watch 100 movies in a month:

<u>For going to theater:</u>

$9 × 100 = $900

<u>For renting movies and using the DVD Player:</u>

Renting = $5 × 100 = $500

DVD Player cost: $400

Total spent in a month = $500 + $400 = $900

Therefore, in a month, the amount spent going to theater = the amount spent using DVD Player and renting the Film.

Let assume you watch 200 movies in a month:

<u>For going to theater:</u>

$9 × 200 = $1800

<u>For renting movies and using the DVD Player:</u>

Renting = $5 × 200 = $1000

DVD Player cost: $400

Total spent in a month = $1000 + $400 = $1400

Therefore, amount spent using DVD Player and renting movies is cheaper than going to theater to watch movies in a month.

<em>It is safe to conclude that for the DVD Player to be a smart purchase by you, you must watch minimum of 200 movies in a month.</em>

6 0
3 years ago
BBonita Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.
alexdok [17]

Answer:

$23.68 per machine hour

Explanation:

Given the above information, the predetermined overhead rate is computed as

= Budgeted overhead cost / Estimated number of machine hours

Budgeted overhead cost = $1,333,200

Estimated number of machine hours = 56,300

Therefore,

Predetermined overhead rate

= $1,333,200 / 56,300

Predetermined overhead rate= $23.68 per machine hour

8 0
2 years ago
Other questions:
  • Sales for the year = $324,882, Net Income for the year = $36,610, Income from equity investments = $8,603, and average Equity du
    6·1 answer
  • A major conflict of interest between top executives and owners, is that top executives wish to diversify the firm in order to ,
    15·1 answer
  • Who sets the price in a monopolistic competition?
    9·1 answer
  • The XYZ bank has sold shares of the ABC Company to a client, who plans to hold the shares for a period of time. The securities a
    13·1 answer
  • What is codetermination?
    13·1 answer
  • The _________________ assesses how likely a customer is to not purchase from one of the companies in the market but instead use
    5·1 answer
  • Is the ad trying to get people to do something? If so, what is it trying to get people to do? If it isn't trying to get people t
    7·1 answer
  • What do you think would happen if the Internet shut down or went away? How would it change the way people live their lives? Do y
    8·1 answer
  • Natick Industries leased high-tech instruments from Framingham Leasing on January 1, 2021. Natick has the option to renew the le
    9·1 answer
  • A business-level strategy addresses: Group of answer choices how a business should define its mission and vision. how an organiz
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!