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3 years ago

Prepare the issuer's journal entry for each of the following separate transactions.

Business

1 answer:

jeka57 [31]3 years ago

3 0

Answer:

March 1

Debit : Cash $318,500

Credit : Common Stock $198,000

Credit : Excess of Par $120,500

<em>Being Issue of Par value Shares for $318,500 cash</em>

April 1

Debit : Cash $84,000

Credit : Common Stock $84,000

<em>Being Issue of no Par value shares for $84,000 cash</em>

April 6

Debit : Inventory $53,000

Debit : Note Receivable $103,000

Credit : Common Stock $68,000

Credit : Excess of Par $88,000

<em>Being Issue of Par value Shares for Inventory and Note Receivable</em>

Explanation:

Note: We are instructed to prepare journals from the issuer`s point of view and this needs to be followed.

When shares are issued, the Common Stock increases :

a. For par value Common Stocks, any price paid in excess of par value is accounted in Excess of Par Reserve.

b. For no par value shares, there is no Excess of Par Reserve, we simply record the increase in Common Stock at the price paid for.

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lisov135 [29]

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4 years ago

What is this form used for? to withdraw money from a savings account to deposit money in a savings account to order checks open

snow_lady [41]

Answer:The answer is passbook

Explanation:

savings Account is the most common form of bank account for the low income earners, The main objective of savings account is to encourage people to form a habit of savings. This type of bank account is operated with the use of passbook and interest is paid to the owners of this account. The amount used in opening a savings account vary from banks to banks, the interest payable on the account to owners of the account also varies from banks to banks.

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4 years ago

If you were to log onto www.census.gov and click on "Foreign Trade," then click on "Statistics," and finally on "State Export

Helga [31]

Answer:

A. No, because of NAFTA, you would expect the export of goods to Canada and Mexico to be substantial.

Explanation:

Even though exists a lot of debate surrounding the benefits of NAFTA to the US, trade agreements tend to increase more than proportionally the commercial exchange between parties. In this case, Canada and Mexico are both parts of NAFTA, so being the most important commercial partners of Ohio should not be a surprise.

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3 years ago

Dre works as an executive in a large cooperation. He believes he is much more ethical and competent than the other executives in

Yuri [45]

Answer:

A) illustrate self-serving bias.

Explanation:

According to my research on studies conducted by various psychologists, I can say that based on the information provided within the question Dre's beliefs are an illustration of a self-serving bias. This is people's tendency to attribute positive events to their own character but attribute negative events to external factors. Which is what Dre is exhibiting by attributing positive traits such as ethicality and competence to himself.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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3 years ago

BUSINESS LAW- TRUE OR FALSE

Bas_tet [7]

A statement that is valid according to law of contract will be termed true while an invalid one is termed false.

<h3>Validity of the statements</h3>

Under the UCC, a contract will generally fail because one or more terms are left open, (TRUE)
A contract without a quantity term is valid. (TRUE)
A contract for services is specifically covered by the UCC. TRUE
Whether there has been an offer is determined by a subjecive standard. TRUE
A says to B: "I am going to sell my car for $2,000." B says: "I accept, here is my check." There is a contract. TRUE
Offers made in jest are always invalid. FALSE
B agrees to buy all of her requirements from S. S agrees. The contract fails for lack of a definite quantity term. TRUE
A writes to B: "I will offer you S20 a week if you will give violin lessons to my son. You have 30days in which to reply to this offer." B is still thinking about it when a purporis to revoke 15days later. B can nonetheless accept. TRUE
When an offeree learns from a third party that the offeror has sold the goods. the offer is re-voked. TRUE
The modern view is that once the offeree of a unilateral contract begins to perionin, the offeror may not revoke his promise. FALSE
An offer continues until there is an express revocation of the offer. TRUE
A offers to sell his watch to B for 100. B says she will take it for 575. B may laier accept the offer for S100. TRUE
A offers to sell his watch 10 B for $100.1 gives a 55 to keep the offer open. A may not revoke. TRUE
Under the UCC, a non-merchant may make her offer irrevocable without consideration. TRUE
In general, an offeree must affirmatively convey his or her intention to accept an offer to enter into a bilateral contract TRUE
A says to B:"If you paint my house, I will give you 5100." B promises to paint a's house. Thereis a contract. TRUE
At common law, an offeree may request additional terms in accepting the offer. TRUE
Merchant S accepts Merchant B's offer with an additional clause providing for reasonable interest for overdue invoices. The additional clause is part of the contract. TRUE
Revocation of an offer sent by mail is elfective upon receipt. TRUE
lla ained for forbearance of a legal right will constitut esileration TRUE
B agrees to buy a house offered by S if B gets a bank loan. There is a contract TRUE

<h3>Law of contract</h3>

Law of contract is an agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.

learn more about law of contract: brainly.com/question/984979

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2 years ago