Answer:
B. $2,500
Explanation:
Given that
Total annual cost = $12,000 + $0.25 per unit
The $12,000 denotes the annual cost, so the monthly cost is
= $12,000 ÷ 12 months
= $1,000
And the number of units is 6,000
Now placing these values to the equation above
= $1,000 + 6,000 units × $0.25 per unit
= $1,000 + $1,500
= $2500
Answer:
The journal entry for J. Laney. to record this transaction is:
Legal Expenses $13,920 (debit)
Common Stock $2,900 (credit)
Share Premium $11,020 (credit)
Explanation:
The Common Stocks are carried at par value of $1. This means that any price paid in excess of the par value is accounted for in the Share Premium Account.
The Common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.
Share Premium = ($4.80 - $1.00) × 2900 shares
= $3.80 × 2,900
= $11,020
Answer: District court
Explanation:
In this scenario, since the neighbor have to be sued in a Texas court so as to be compensated for the loss that was incurred, the district court can handle this.
It should be noted that most district courts are usually courts that handle small cases such as this like domestic related cases or probably cases involving little crimes.
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