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blsea [12.9K]
2 years ago
12

Clothing Frontiers began operations on January 1 and engages n the following transactions during the year related to stockholder

s equity.
January 1 Issue 600 shares of common stock for $40 per share

April 1 Issues 100 additional shares of common stock for $44 per share.

Required:

1. Record the transaction assuming Clothing Frontiers has no-par common stock.

Date General Journal Debit Credit
January 01
2. Record the transactions, assuming Clothing Frontiers has either $1 par value or 41 stated value common stock.

Date General Journal Debit Credit
January 01
Business
1 answer:
Anna11 [10]2 years ago
8 0

Answer:

1. Record the transaction assuming Clothing Frontiers has no-par common stock.

January 1, issuance of 600 stocks

Dr Cash 24,000

    Cr Common stock 24,000

April 1, issuance of 100 stocks

Dr Cash 4,400

    Cr Common stock 4,400

2. Record the transactions, assuming Clothing Frontiers has either $1 par value or 41 stated value common stock.

January 1, issuance of 600 stocks

Dr Cash 24,000

    Cr Common stock 600

    Cr Additional paid in capital 23,400

April 1, issuance of 100 stocks

Dr Cash 100

    Cr Common stock 100

    Cr Additional paid in capital 4,300

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Answer:

conglomerate                

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The conglomerates are always global and massive. The predominant conglomerates consolidate financial risk through investing in a variety of different industries, although other conglomerates opt to engage in a single sector, like those in mines.        

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Explanation:

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2 years ago
The basic message of _____ is that potential world production is greater with unrestricted free trade than it is with restricted
antiseptic1488 [7]
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Bon Chance, Inc., has an odd dividend policy. The company has just paid a dividend of $3 per share and has announced that it wil
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Answer:

If you require a return of 9.7 percent on the company’s stock, you will pay $47.61 for a share today .

Explanation:

Price today = Present Value of Dividends

Present Value of Dividends :  

Year                Dividend             Discounting Factor(9.7%)

0                 3.0000  

1                    8.00                 0.9115770282588880

2                    13.00                 0.8309726784493050

3                     18.00                  0.7574956047851460

4                     23.00                  0.6905155923292130  

year                                     Present Value(Dividend* Discounting factor)

0

1                                                                         7.2926162260711000

2                                                                        10.8026448198410000

3                                                                        13.6349208861326000

4                                                                        15.8818586235719000

Present Value of Dividends                            47.612040555616600

Therefore, If you require a return of 9.7 percent on the company’s stock, you will pay $47.61 for a share today .

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