1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kaylis [27]
3 years ago
5

Osage Corporation issued 2,000 shares of stock. Prepare the entry for the issuance under the following assumptions. (Credit acco

unt titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,650.)
(a) The stock had a par value of $5 per share and was issued for a total of $52,000.
(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.
(c) The stock had no par or stated value and was issued for a total of $52,000.
(d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000.
(e) The stock had a par value of $5 per share and was issued for land worth $52,000.
Business
1 answer:
skelet666 [1.2K]3 years ago
7 0

Answer:

A. Dr Cash 52,000

Cr Common Stock 10,000

Cr Paid-in Capital in Excess of Par-Common Stock 42,000

B. Dr Cash 52,000

Cr Common Stock 10,000

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

C. Dr Cash 52,000

Cr Common Stock 52,000

D. Dr Organization Expense 52,000

Cr Common Stock10,000

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

E. Dr Land 52,000

Cr Common Stock 10,000

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

Explanation:

Preparation of the entry for the issuance

A. Dr Cash 52,000

Cr Common Stock 10,000

(2,000 x 5 )

Cr Paid-in Capital in Excess of Par-Common Stock 42,000

(52,000 – 10,000)

B. Dr Cash 52,000

Cr Common Stock 10,000

(2,000*5)

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

(52,000 – 10,000)

C. Dr Cash 52,000

Cr Common Stock 52,000

D. Dr Organization Expense 52,000

Cr Common Stock10,000

(2,000*5)

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

(52,000-10,000)

E. Dr Land 52,000

Cr Common Stock 10,000

(2,000*5)

Cr Paid-in Capital in Excess of Stated Value-Common Stock 42,000

(52,000-10,000)

You might be interested in
Ralph agrees to lease an apartment from Susan for one day to see Thomas, the president of the United States, deliver a speech in
Reptile [31]

Answer:

A, discharged

Explanation:

Since the speech to be seen is cancelled well ahead of the due date, then the contract between Ralph and Susan is discharged. There is no more speech to listen to and as such Susan can have her apartment back.

Cheers.

5 0
3 years ago
If the current dividend (D0) is $3.00 and the growth rate is 6%. How much will the dividend be at Time 5?
katen-ka-za [31]

The dividend will be $4.015

<u>Explanation:</u>

The given data is: Initial dividend given is = $3 and growth rate given is = 6%

the following formula is used in order to calculate the dividend

dividend at time 5 = d0 multiply with (1+growth rate) power 5

= $3.00 multiply with (1+0.06) power 5

=>$3.00 multiply (1.33822558)

=>$4.015 (rounded to two decimals).

<u>Note :</u> The dividend is the amount that is paid by the company to its shareholders. The amount of dividend may vary from year to year depending upon the profitability level of the company that it earned during the year.

5 0
3 years ago
Consider two perfectly negatively correlated risky securities, X and Y. Security X has an expected rate of return of 9% and a st
Aneli [31]

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

5 0
2 years ago
Raspberry Company's actuary has computed its prior service cost to be $8,000,000. Raspberry amortizes the prior service cost by
Andrews [41]

Answer: $910,000

Explanation:

Pension expense is calculated by the formula:

= Prior Service cost  for the year+ Service cost + Interest cost - Expected return on plant assets

Prior Service cost = Prior service cost / Service life of active employees

= 8,000,000 / 20

= $400,000

Expected return on plan assets = Plan assets * Interest rate

= 1,500,000 * 10%

= $150,000

Pension expense = 400,000 + 560,000 + 100,000 - 150,000

= $910,000

3 0
3 years ago
hich of the following situations will disqualify a single individual from claiming the Premium Tax Credit? A. Marriage to an ind
BlackZzzverrR [31]

Answer:

D. Becoming eligible as a dependent on his or her parent's joint tax return

Explanation:

In the case when the individual is disqualify from claiming the premium tax credit at the time when it become eligible as a dependent based on joint tax return of his or her parent

So this is the case when a single individual disqualify from the tax credit

Therefore as per the given situtation, the option d is correct

3 0
2 years ago
Other questions:
  • You haven't been able to spend much time talking with your team lately, but your workload should be back to normal soon. When yo
    9·1 answer
  • Which of the following is not one of the four components of the business process
    15·1 answer
  • Which of these is the best example of successfully managing a financial asset?
    15·1 answer
  • What refers to the quantity of goods and services that consumers are willing to buy at a given price? refers to the quantity of
    13·2 answers
  • John is creating a presentation on the consumer price index, for his business class. He wants students to understand that food a
    5·1 answer
  • The following units of an inventory item were available for sale during the year. Use this information to answer the following q
    14·1 answer
  • 1. Carla Vista Co. enters sales and sales taxes separately on its cash register. On April 10, the register totals are sales $26,
    7·1 answer
  • which of the following statements about entrepreneurs is false? A. Entrepreneurs try to solve problems by using new products B.
    14·2 answers
  • What is the impact on the non-controlling interest of a subsidiary when there are downstream transfers of inventory between the
    15·1 answer
  • Kelly Company sells its only product for $250 per unit. It has variable costs of $90 per unit. Annual fixed operating costs amou
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!