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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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Answer and Explanation:

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2. Specification is shown below:

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b) work inprocess                     $60,000   BalanceSheet  

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d) cost of goodssold                 $378,000   IncomeStatement

e) sellingexpense                     $8,000   IncomeStatement

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3 years ago
Lemony lemonade has​ 3,200 gallons of lemonade in wip​ inventory, with​ 76% of materials already added. The lemonade is​ 50% thr
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Based on the process that Lemony Lemonade uses to make lemonade, the equivalent units for conversion​ costs is 1,600 units.

<h3>What equivalent units are for conversion costs?</h3>

This can be found as:

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Solving gives:

= 3,200 x 50%

= 1,600 units

Find out more on equivalent units at brainly.com/question/16259709

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A mobile veterinary business, preferred pet care, inc., created a mission statement long before it opened its doors for business
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<h3>What is a Gantt Chart?</h3>

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