Answer:
Please find solutions in the attached images
Explanation:
I have attached images of my journal entry solutions to this question as required.
Answer:
$27,600
Explanation:
Amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend:
= Shares issued * Percentage of stock dividend * Market price
= 46,000 shares * 2% * $30
= 46000*0.02*$30
= $27,600
A document that purports to be an agreement but does not include all necessary terms is known as a void contract. Therefore, choice 3 is right.
<h3>What do you mean by a contract?</h3>
A contract is defined as a commitment to do something between two or more parties. A loan arrangement between automobile purchasers and sellers is an illustration of a contract.
An arrangement between two persons to get married is an example of a contract.
A formal contract that is effectively void and unenforceable from the moment it is created is known as a void contract.
Hence, the correct option is Void contract to be filled in given blank
Learn more about contracts:
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Answer:
$2,200
Explanation:
The computation of the adjusted balance of prepaid insurance is shown below:
= Expired amount of prepaid insurance
= $2,200
Insurance expense A/c Dr $2,200
To Prepaid insurance Cr $2,200
(Being the insurance expense is recorded)
At the time of insurance expired, the amount is transferred from current asset to the insurance expense account in the income statement