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3 years ago

12

Increases to owner's equity may be from expenses that are incurred. expenses exceeding revenue for the period. withdrawals of ca

sh from the business by the owner. revenue that is derived from sales of goods or services

1 answer:

Trava [24]3 years ago

3 0

Revenue that is derived from sales of goods or services

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x-co issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to reco

gizmo_the_mogwai [7]

If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit Cash $100,000 ; Credit to Preferred Stock $100,000.

<h3>How to prepare the journal entry?</h3>

Based on the given information we were told that the company issued 1,000 shares in which the cumulative preferred stock is the amount $100 cash per share. The appropriate journal entry to record the transaction is:

Journal entry

Debit Cash $100,000

Credit to Preferred Stock $100,000

( To record preferred stock)

Workings:

Preferred stock = 1,000 shares × $100 cash per shares

Preferred stock = $1000,000

Therefore the correct journal entry to record the transaction is to debit cash with the amount of $100,000 and credit Preferred stock with the amount of $100,000.

Learn more about journal entry here: brainly.com/question/14279491

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After reading the paragraph below, answer the question that follows. Americans spend up to $100 billion annually for bottled wat

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3 years ago

Feather Friends, Inc., distributes a high-quality wooden birdhouse that sells for $120 per unit. Variable expenses are $60.00 pe

umka21 [38]

Answer:

50%

Explanation:

Given: Selling price= $120 per unit.

Variable cost= $60 per unit.

First computing contribution margin.

Contribution margin= $Selling\ price\ per\ unit - variable\ cost\ per\ unit$

⇒ Contribution margin= $\$120 - \$ 60$

∴ Contribution margin= $\$ 60$

Now, calculating the contribution margin ratio.

Contribution margin ratio= $\frac{Contribution\ margin}{selling\ price\ per\ unit}$

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∴ Contribution margin ratio= $50\%$

Hence, the product´s contribution ratio is 50%.

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