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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

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Answer:

I am not a business student but I think this is common sense.

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Hope I helped

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3 years ago
In the context of the external environment of an organization, the task environment: a. is formed by the interaction among a com
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3 years ago
Suppose that you are a member of the Board of Governors of the Federal Reserve System. The economy is experiencing a sharp rise
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The activities of the federal reserve board have the most direct influence on.
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2 years ago
Marco, Jaclyn, and Carrie formed Daxing Partnership (a calendar-year-end entity) by contributing cash 10 years ago. Each partner
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a. The hot assets per Section 741(a) for this sale are as follows:

i. Accounts receivable

ii. Inventory

iv. Potential depreciation recapture in the equipment

b. Marco's gain or loss on the sale of his partnership interest is $33,000.

c. The character of Marco's gain or loss is <u>iv. $33,000 capital gain</u>.

<h3>What is a partnership interest?</h3>

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The partnership interest entitles the partner to participate in the distribution of profits and losses arising from the partnership business.

<h3>Data and Calculations:</h3>

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