Answer: Closing entries: <u>" must be journalized and posted ".</u>
Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.
Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.
Answer:
a) Removal of unwanted buildings
d) Brokerage commission
e) Survey fees and legal fees
f) Purchase price
Answer:
Dr cash $303,500
Cr common stock $133,500
Cr paid in capital in excess of par value $170,000
Second issue of shares:
Dr cash $74,000
Cr common stock $74,000
Explanation:
The cash received from the issuance of 44,500 at $3 par value is $303,500 which is to debited to cash and credited to common stock for$133,500 ($3*44,500) while the balance of $170,000 ($303,500-$133,500) is credited to paid in capital in excess par value account.
On the issuance of no par value common stock for cash of $74,000,the cash account is debited as usual with $74,000 while the common stock account is credited with same amount.
Answer:
0.41
Explanation:
The computation of the weight of security Y in the minimum variance portfolio is shown below:-
Weight of security X = Standard deviation of security Y ÷ (Sum of the standard deviation of securities)
= 39% ÷ (39% + 27%)
= 39% ÷ 66%
= 59.01%
Weight of security Y = 1 - Weight of security X
= 1 - 59.01%
= 0.41
