Answer:
the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state.
Explanation:
Answer:
Mark−up percentage = 18.75%
Explanation:
Total manufacturing cost= Direct material + Direct labor + Variable overhead + Fixed overhead
= $36 + $24 + $18 + $40
= $118
Hence, the total manufacturing cost is $118.
Total selling cost = Fixed selling cost + Variable selling cost
Total selling cost = $28 + $14
Total selling cost = $42
Hence, the total selling cost is $42
Total cost = Total Manufacturing cost + Total selling cost
Total cost = $118 + $42
Total cost = $160
Mark−up percentage = ROI / Total cost * 100
Mark−up percentage = $30 / $160 * 100
Mark−up percentage = 0.1875 * 100
Mark−up percentage = 18.75%
Answer and Explanation:
The Journal entry is shown below:-
Cash account Dr. $50,000
To Paid in Capital in Excess of Stated Value account $45,000
To Common Stock account $5,000
(Stated Value 1 × $5,000)
Being common stock issued is recorded)
For recording the common stock issued we simply debited the cash account as it is increasing assets while we credited the paid in capital in Excess of Stated Value and common stock as equity is increasing.