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Tatiana [17]
3 years ago
9

Nexis Corp. issues 1,000 shares of $15 par value common stock at $22 per share. When the transaction is recorded, credits are ma

de to:______.
a. Common Stock, $22,000, and Retained Earnings, $15,000
b. Common Stock, $22,000
c. Common Stock, $15,000, and Paid-In Capital in Excess of Par, $7,000
d. Common Stock, $7,000, and Paid-In Capital in Excess of Stated Value, $15,000
Business
1 answer:
Vadim26 [7]3 years ago
5 0

Answer: C. Common Stock, $15,000, and Paid-In Capital in Excess of Par $7,000

Explanation:

The journal entry that will be made for this transaction include:

Debit Cash $22,000

Credit Common Stock $15,000

Credit Paid-In Capital in Excess of Par $7,000

Therefore, the correct option is C

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The federal government passes a law which a company, JuneCorp, feels unjustifiably discriminates against the company and harms i
fenix001 [56]

Answer:

b. JuneCorp can contest the legality of the law if all three scrutiny tests determine that the law is necessary.

Explanation:

Scrutiny test is a situation whereby the legislative arm of the government passes a law inorder to further government interest in a partivular situation or towards its citizens. Strict scrutiny is used to ensure that, the givernmental discrimination in its new law is constitutionally valid.

7 0
3 years ago
Holly created a saving and investing plan over twelve years ago. She has not looked at it or made any changes to it. What saving
Tpy6a [65]
Continually reassess your plan. As part of the investment process and financial planning process, Holly should monitor and reassess her savings and investing plan annually to determine if her goals have changed and if she is meeting her goals through the plan's performance. 
4 0
3 years ago
The journal entry to record the purchase of materials on account in process cost accounting is a(n): Multiple choice question. i
Lilit [14]

The journal entry to record the purchase of materials on account in process cost accounting is an Increase in assets and an increase in liabilities. Option A. This is further explained below.

<h3>What is a journal entry?</h3>

Generally, In process cost accounting, a rise in assets and an increase in liabilities are recorded in the journal entry for the purchase of materials on account.

In conclusion, A journal entry is a kind of entry that is used in the accounting records of a company to record a transaction that occurred inside the company.

Read more about the journal entry

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7 0
2 years ago
Which of the following statements is CORRECT?
san4es73 [151]

Answer:

The answer is D. Multiple IRRs can only occur if the signs of the cash flows change more than once

Explanation:

A project cannot have multiple IRRs if it is independent. Multiple IRRs can only occur if the signs of the cash flow change more than once. For a project to have more than one IRR, then both IRRs must be greater than WACC. If a project's NPV is greater than zero, then it's IRR must be less than zero.

Multiple IRRs occur when a project has more than one internal rate of return. The problem arises where a project has non-normal cash flow (non-conventional cash flow pattern).

Internal rate of return (IRR) is one of the most commonly used capital budgeting tools.

6 0
3 years ago
Division A of Chacha Company has sales of $140,000, cost of goods sold of $83,000, operating expenses of $43,000, and invested a
KiRa [710]

Answer:

d. 0.93

Explanation:

Investment turnover is a measurement of how a company is able to generate revenue as a result of using the money invested in the company.

Investment turnover is computed by

= Net sales ÷ Invested assets

Given that;

Sales = $140,000

Invested assets = $150,000

Investment turnover = $140,000 ÷ $150,000

Investment turnover = 0.93

Therefore, investment turnover for Division A is 0.93

6 0
3 years ago
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