Answer: On agriculture, textiles, and automobiles.
Explanation:
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Answer:
Debit : Land $1,200,000
Explanation:
The journal entry lattern Company need to record is
Dr Land $1,200,000
------------ Cr Credit common shares $12,000
------------ Cr Paid in capital - Common shares $1,188,000
As 120,000 shares is exchanged, for the land and the share is traded in the exchange, the value of the land should be recorded at the market price of this
= 120,000 shares or 120,000 × $10 = $1,200,000
Common share account is recorded at lar value x number of shares issued = $0.1 × $120,000 = $12,000 while paid in capital common share account records the difference between market price and par value at the time of shares issuance or
= (10 - 0.1) × 120,000
= $1,188,000
Answer:
b. $2,000
Explanation:
Using a fair value option pricing model, total compensation expense is determined to be $6,000.
The service period is for three years beginning January 1, 2021.
So, Ellison should recognize compensation expense for 2021 on its books in the amount of:
= $6,000 / 3 years
= $2,000.
As a result of the option granted to Wine, using the fair value method, Ellison should recognize $2,000 as compensation expense.