Answer: d. increased material cost per unit
Explanation:
Direct materials quantity variance has to do with the difference between the budgeted <em>quantity</em> of materials and the actual quantity of materials used. It speaks to only the <em>quantity</em> used and nothing else.
An increased cost of the material is not relevant to the quantity of material used because whilst for instance it measures if there was a <em>price change</em> in the material, the materials quantity variance checks if there has been a change<em> in quantity</em>.
Answer:
August 1
Dr Legal Expense $9,600
Cr Common stock $8,000
Cr Paid Capital $1,600
August 15
Dr Cash $78,000
Cr Common stock $50,000
Cr Paid in Capital $28,000
October 15
Dr Land $51,000
Cr Common stock $30,000
Cr Paid in Capital $21,000
Explanation:
Preparation of the journal entries to record the stock issuances on August 1, August 15, and October 15.
August 1
Dr Legal Expense $9,600
Cr Common stock $8,000
(800 shares*$10 par value)
Cr Paid Capital $1,600
($9,600-$8,000)
(To record stock issuances)
August 15
Dr Cash $78,000
Cr Common stock $50,000
(5,000shares*$10 par value)
Cr Paid in Capital $28,000
($78,000-$50,000)
(To record stock issuances)
October 15
Dr Land $51,000
Cr Common stock $30,000
(3,000shares*$10 par value)
Cr Paid in Capital $21,000
($51,000-$30,000)
(To record stock issuances)
Answer:
A. Body Language should be your answer
Answer:
Explanation:
The journal entry to record the resold share is shown below:
Cash A/c Dr $10,000 (1,000 shares × $10)
To Common Stock $3,000 (1,000 shares × $3)
To Additional Paid-in Capital in excess of par - Common Stock $7,000
(1,000 shares × $7)
(Being the resold shares is recorded and the remaining balance is credited to the additional paid-in capital account)
While reselling the stock, we debited the cash account and credited the common stock and additional paid-in capital account
All other information which is given is not relevant. Hence, ignored it