Answer:
The correct general entry is,
Cash 1,600,000 Dr
Common Stock-$0.10 Par value 40000 Cr
Paid-ln Capital in Excess of Par—Common 1,560,000 Cr
Option c is the correct answer
Explanation:
The issuance of stock will mean an inflow of cash to the company as a result. The cash received will be equal to the number of shares issued multiplied by the value at which they are issued.
Thus, cash received will be = 400000 * 4 = $1600000
As the asset is increasing, the cash will be debited.
On the other side of the transaction, the issuance of stock is always recorded at the par value in the common stock account and any amount received in excess of par value is credited to the Paid-in-Capital in excess of par-Common Stock account.
Thus, Common stock will be credited by = 400000 * 0.1 = $40000
The remaining = 1600000 - 40000 = 1560000 will be credited to Paid-in-Capital in excess of par-Common Stock account.
Answer:
- Someone who combines the factors of production into a business
- -Someone willing to risk loss and failure for profit.
Explanation:
An entrepreneur is a person who starts and sets up their business.
Characteristics of Entrepreneurs
- Entrepreneurs have Self-Motivation and effective communication skills.
- They are natural managers with the capability to motivate, encourage and inspire people in their team.
- They have Money management and handling skills.
- They are prepared to take a risk for profit.
- They take big decisions very carefully.
- They are confident,creative and Open-Minded.
Answer:
Most of these firms had audit committees that met at least four times a year.
Explanation:
COSO stands for Committee of Sponsoring Organization, which is an organization that is dedicated to offering the thought of guidance as well as leadership on the fraud deterrence, internal control and management of enterprise risk.
From the findings which is not found as fraud is that the most of the firms or businesses had committees of audit which met at least 4 times a year.
Under firm-commitment underwriting, the underwriter bears the entire risk that the shares will not be sold to the public at the specified offering price.
What is Underwriter?
Any person who assesses and takes on another party's risk in exchange for payment—which frequently comes in the form of a commission, premium, spread, or interest—is an underwriter. While underwriters work for insurance firms, agents and brokers represent both consumers and insurance companies. The mortgage, insurance, equity, and some prevalent forms of debt security trading are just a few of the financial industries where underwriters play a crucial part. Sometimes referred to as a book runner, a lead underwriter holds this position.
To learn more about Underwriter
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Answer:
43150 units
Explanation:
For computing the equivalent units of production for conversion costs, first, we have to find the sale units which is shown below:
= Production units for material - ending work in progress units
= 44,500 units - 4,500 units
= 40,000 units
Now the ending work in progress units for conversion would be
= Ending work in progress units × percentage of completion
= 4,500 units × 70%
= 3,150 units
So, the equivalent units of production for conversion costs would be
= Sale units + ending work in progress units for conversion
= 40,000 units + 3,150 units
= 43,150 units
