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Sladkaya [172]
3 years ago
12

Prepare the issuer's journal entry for each of the following separate transactions. On March 1, Atlantic Co. issues 44,500 share

s of $3 par value common stock for $303,500 cash. On April 1, OP Co. issues no-par value common stock for $74,000 cash. On April 6, MPG issues 2,400 shares of $20 par value common stock for $43,000 of inventory, $155,000 of machinery, and acceptance of a $93,000 note payable.
Business
1 answer:
steposvetlana [31]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below;

On March 1

Cash A/c $303,500

     To Common Stock $3 Par value (44,500 × $3) $133,500

       To Paid in capital in excess of par value $170,000

(Being the common stock issued is recorded)

On April 1

Cash $74,000

      To Common Stock, no par value $74,000

(Being the common stock issued is recorded)

On April 6

Inventory $43,000

Machinery $155,000

 To Common Stock (2,400 ×$20) $48,000

 To Notes payable $93,000

  To Paid in capital in excess of par value $57,000

(Being the shares are issued)

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8 0
2 years ago
quality control activity analysis indicated the following four activity costs of a hotel. Verifying credit card information $52,
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Answer:

The total cost of quality is $ 313200

Explanation:

First we need to distinguish the costs and allocate them to the correct category for the cost of quality report.

We have verifying credit card information of $52200

Customer service training of $104400

Discounting room rates due to poor service $ 156600

The 4 categories of cost of quality report are Prevention Costs, Appraisal Costs, Internal Failure costs and external failure costs.

Conforming Costs

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Verifying credit card information - appraisal cost - $52200   0,76% of total

Non-conforming costs

Internal Failure

External Failure costs

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The salesperson who is responsible for ongoing business with a customer who uses a product, satisfying their long-term needs and
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Thus, Account manager is the right answer for the given case.

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The income statement measures the flow of funds into (i.e. revenue) and out of (i.e. expenses) the firm over a certain time peri
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Answer:

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