11. The auditor's report may include which of the following elements?

Wheeler Company issued 5,000 shares of its $5 par value common stock having a fair value of $25 per share and 7,500 shares of it

Arte-miy333 [17]

Answer:

Option (c) $141,818

Explanation:

Data provided in the question:

Number of common stocks issued = 5,000

Value of common stock = $25 par value

Number of preferred stocks issued = 7,500

Value of preferred stock = $20 par value

Lump sum value of total shares issued = $260,000

Now,

Fair value of the preferred stocks = 7,500 × $20

= $150,000

Fair value of the common stocks = 5,000 × $25

= $125,000

Thus,

Total value of the stocks issued = $150,000 + $125,000

= $275,000

Therefore,

Proceeds allocated to the preferred stock

= Lump sum value × [ Fair value of the preferred stocks ÷ value of the stocks ]

= $260,000 × [ $150,000 ÷ $275,000 ]

= $141,818.18 ≈ $141,818

Hence,

Option (c) $141,818

3 0

3 years ago

The following are selected 2020 transactions of Astin Corporation. Sept. 1 Purchased inventory from Encino Company on account fo

masya89 [10]

Answer:

inventory 50,000 debit

accounts payable 50,000 credit

--to record purchase of goods--

accounts payable 50,000 debit

notes payables 50,000 credit

--to record teh issued promissory note to setle the account--

cash 50,000 debit

discount on note payable 4,000 debit

notes payable 54,000 credit

--to record the discounted note--

Explanation:

a) we record the purchase as always.

b) we are trading a liability for another. We do not receive for the note.

c) we discount on the note and we are goind to declare the interest expense at maturity or year-end against this discount.

5 0

3 years ago

A company uses an application that controls who can connect to a sensitive database and what they can do. What is this security

elena-14-01-66 [18.8K]

This security feature is known as Access control.

Companies protect their data in different ways to give access to their users. They usually provide the access to the users by the process of authentication and this data is covered by the layers of protection by the guest pages. In guest access, users are allowed to research the limited stuff of the company.

The access control feature of the institution is controlled by the back end of the application or the site. There are many layers of controlled accessibility for the users by which they can access sensitive data at some point.

The database is the overall data related to the company staff in any application or website. Users are authenticated by the layers of protection and after that, they are being controlled through their data which is given to the company layers of protection which in terms are the source to control the scam and theft.

For more questions related to the Company database visit the link below:

https://brainly.in/question/51806886

#SPJ4

5 0

1 year ago

Assume that you own 3,600 shares of $10 par value common stock and the company has a

kozerog [31]

Answer:

The number of shares of common stock own after the stock spilt is 14,400

Explanation:

The number of shares of common stock own after the stock spilt is computed with the formula as:

Number of common stock after stock spilt = Number of common stock before stock spilt × Stock spilt multiple

= 3,600 × 4 / 1

= 14,400 shares

8 0

2 years ago

Preparing an income and expense statement helps in answering the question, "Where does all my money go?" This statement takes __

Snowcat [4.5K]

Correct question read;

"This statement takes __________and subtracts_________ to determine an individual's or a family's cash surplus or deficit situation.

Answer:

note of income; the expenses

Explanation:

Remember, the income and expense statement as the name implies is a financial statement that takes note of all incomes into a financial account and then subtracting identified expenses from the income to determine if there was a loss or profit.

By following this method, one ultimately would be able to answer the question, "Where does all my money go?".

6 0

2 years ago