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alex41 [277]
2 years ago
11

Below are a number of transactions that took place in Willie Corporation during the past year:

Business
1 answer:
zubka84 [21]2 years ago
8 0

Answer:

A. Common stock was sold for cash: Financing

B. Equipment was sold for cash Investing

C. A long term loan was made to a subsidiary Investing

D. Interest was received on loan to subsidiary Investing

E. Interest Payable, a current liability, was reduced Operating

F. A stock dividend was declared and issued on common stock None

G. A building was acquired by issuing shares of common stock None

H. Accrued Income Taxes, a current liability account, was reduced Operating

I. Long term investments were sold Investing

J. Cash dividends were declared and paid. Financing

K. Preferred stock was sold for cash Financing

L. Bonds were retired Financing

M. Dividends were received on an investment Investing

N. Equipment was purchased by giving a long term note to the seller None

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Molodets [167]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $27,300

(1,300 × $21)  

      To Common Stock $1,300  

       To Paid in capital in excess of par-Common Stock $26,000

(Being issue of common stock is recorded)

2.Treasury stock Dr, $5,000

(250 × $20)

        To Cash  $5,000

(Being repurchase of treasury stock is recorded)

3. Cash Dr, $6,750

(250 × $27)

      To Treasury stock $5,000

(250 × $20)

      To Paid in capital-Treasury stock $1,750

(Being reissue of treasury stock is recorded)

3 0
2 years ago
Lance lopes went to his bank to find out how long it will take for $1,500 to amount to $2,700 at 15% simple interest. can you so
denis23 [38]
To find simple interest: 

Time = Interest/(Principle)(Rate)

Interest is the amount of interest paid
Principle is the amount you lent or borrow
Rate is the percentage of principle charged as interest each year
Time is the years of the loan

P=Principle amount of $1,500
I=Interest amount of $1,200 (Take the new amount of $2,700 and subtract from the principle that is $1,500 which gives you $1,200)
r= as a decimal .15 (15%/100)
t=unknown

T=I/PR

T=1,200/(1,500)(.15)
T=1,200/225
T=5.3 years 

It would take Lance roughly 5.3 years
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3 years ago
Justin, a human resources manager for xyz company, commits 20% of this year's budget to develop a new program for valuing divers
rewona [7]
Human Resource Manager
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3 years ago
Journalize the following transactions for Cullumber Company.
Thepotemich [5.8K]

Answer and Explanation:

The journal entries are shown below

On Sept 1

Supplies Dr $1,020

    To Cash $1,020

(being supplies purchased in cash)

On Sept 5

Dividend Dr $410

   To cash $410

(being cash dividend is paid)

On Sept 7

cash Dr 5,500

   To Unearned service revenue  $5,500

(being cash collection is recorded)

On Sept 16

Cash Dr $770

  To Account receivable $770

(being cash collection is recorded)

On Sept 22

Equipment Dr $3,000

         To cash $1,100

         To Note payable $1,900

(being equipment purchased is recorded)

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3 years ago
What is the formal agreement between two or more countries trade,peace and other matters called?
Arlecino [84]
Pretty sure its a treaty

5 0
3 years ago
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