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sattari [20]
3 years ago
13

Berry Corporation has 100,000 shares of $10 par common stock authorized. The following transactions took place during 2017, the

first year of the corporation's existence: Sold 20,000 shares of common stock for $13.50 per share. Issued 20,000 shares of common stock in exchange for a patent valued at $300,000. At the end of the Berry's first year, total paid-in capital amounted to
Business
1 answer:
Y_Kistochka [10]3 years ago
6 0

Answer:

$570,000

Explanation:

The computation of total paid-in capital is shown below:-

Common stock issued for cash

Cash Dr, $270,000      (20,000 × $13.50)

           To Common Stock $200,000    (20,000 × $10)

         To Additional paid in capital $70,000   (20,000 × ($13.50 - $10)

(Being common stock issued for cash is recorded)

Common stock issued for patent

Patent (FMV of patent) Dr, $300,000

              To Common Stock $200,000     (20,000 × $10)

To Additional paid in capital $100,000          (20,000 × $10 ÷ 2)

(Being common stock issued for patent is recorded)

For recording this two entries we debited the cash as it rise assets and at the same time it also rise the overall stockholder equity so common stock and the additional paid in capital for common stock is credited

So,

Total paid in capital = Common Stock + Additional paid in capital

= ($200,000 + 200,000) + ($70,000 + $100,000)

= $400,000 + $170,000

= $570,000

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An import restriction (tariff or quota) creates a net loss in welfare for the importing nation because:___________
Helen [10]

Answer:

Explanation:

An import restriction as the term implies is done to limit the amount of a certain good that is imported into the country. Usually this is done to protect the domestic producers of the good in question who are not be as efficient as the country being imported from and so charge higher prices.

The people in the economy will experience a net loss in welfare because they will now be paying higher prices and as well will be transferring some of their income to their government because import restrictions like tariffs will see their costs passed on to the consumer.

5 0
3 years ago
The entry to record the issuance of common stock at a price above par includes a credit to?
Anton [14]

The entry to record the issuance of common stock at a price above par includes credit to cash.

Common stock is a protection that represents ownership in a organization. In a liquidation, commonplace stockholders get hold of whatever property remain after creditors, bondholders, and favored stockholders are paid.

Common stock is a form of company fairness ownership, a kind of safety. The phrases balloting proportion and normal proportion also are used often out of doors of the us. they're called fairness stocks or regular shares inside the united kingdom and different Commonwealth nation-states.

For instance, if a employer pronounces a dividend of $10 million and there are 20 million shareholders, investors will acquire $0.50 for each commonplace share they personal.

Learn more about common stock here brainly.com/question/25765493

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3 0
1 year ago
why was slavery more successful than other labor systems in meeting the labor needs of the colonial america market economy
kogti [31]

Answer:

Cheap & effective

Explanation:

this source of labor was easily abusable and by having people you don't need to pay and spend barely anything on feeding them it makes it easier to build the USA. I don't agree with the USA being founded on this but other countries were doing this so the USA did it also.

8 0
3 years ago
The management of Kabanuck Corporation is considering dropping product V41B. Data from the company's accounting system appear be
Makovka662 [10]

Answer:

$191,500

Explanation:

If the item is not dropped:

Loss = Sales - Variable expenses - Fixed manufacturing expenses - Fixed selling and administrative expenses

       = $923,000 - $405,500 - $337,000 - $244,000

       = (63,500) loss

Fixed mfg. expenses remaining:

= Fixed manufacturing expenses - Avoidable Fixed manufacturing expenses

= $337,000 - $207,500

= $129,500

Fixed selling and administrative expenses remaining:

= Fixed selling and administrative expenses - Avoidable Fixed selling and administrative expenses

= $244,000 - $118,500

= $125,500

Loss in expenses remaining if item is dropped :

= Fixed mfg. expenses remaining + Fixed selling and administrative expenses remaining

= $129,500 + $125,500

= ($255,000)

Overall net operating income would decrease by:

= Loss in expenses remaining if item is dropped - Loss in expenses if item is not dropped

= $255,000 - $63,500

= $191,500

5 0
3 years ago
__ offers users an "Ask a Librarian" feature to inquire about the library's collections.
charle [14.2K]

Answer:

Library of Congress (LOC)

Explanation:

A library also known as a bookhouse can be defined as an institution having various collection of books and other informative materials that people can read to gain more knowledge, insight and motivation about a particular topic. An example of a library is the Library of Congress (LOC) located in Washington DC, United States of America.

Library of Congress (LOC) refers to the research library used by the Congress of the United States of America to provide or gain access to a diverse and rich source of knowledge (informations) about things, places, animals, plants, people, etc.

Basically, it comprises of millions of literary works such as manuscripts, books, photographs, maps, recordings, newspapers in its collection and as a result of this, it is known to be the largest library in the world.

The Library of Congress (LOC) offers users an "Ask a Librarian" feature to inquire about the library's collections. Therefore, users can easily make enquiries from a librarian on any thing they aren't clear about using the Library of Congress (LOC).

6 0
3 years ago
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