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alisha [4.7K]
3 years ago
6

Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During

the first month of operation, the corporation issued 210 shares to its attorneys in payment of a $4,100 charge for drawing up the articles of incorporation. The entry to record this transaction would include __________.
Business
2 answers:
-BARSIC- [3]3 years ago
7 0

Answer:

debit to organization expenses for $4100

Explanation:

Svet_ta [14]3 years ago
6 0

Answer:

Debit to organization expenses for $4100 (legal expenses)

Explanation:

Format: Account  |  Credit  |  Debit   |  Explanation

Organization Expenses  |   -   |  $4100  |  Legal expenses

Common Stock   |   $2100   |   -    |  210*$10 = $2100

Additional paid-in Capital  |  $2000   |    -    |  Contributed capital in excess of par value, common stock

The entry to record this transaction would include debit to organization expenses for $4100 (legal expenses).

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Explanation:

The W-4 Form or the Employee's Withholding Allowance Certificate, must be completed by new employees and its main purpose is to let their employer know how much federal taxes must be withheld form the employee's paycheck. Employers no longer have to routinely submit W-4 Forms to the IRS.

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For example, students are either left-handed, right-handed or ambidextrous

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