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Anna007 [38]
2 years ago
14

Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par

value common stock and 80,000 shares of 6%, $20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.
Required:
Prepare the stockholders’ equity section of the balance sheet for Stahl Company.
Business
1 answer:
polet [3.4K]2 years ago
6 0

Answer:

Stahl Company

Stockholders' Equity section of the balance sheet

As of December 31, 2019

Authorized shares:

Common Stock, 600,000 at $2 par value

6%, Preferred Stock, 80,000 at $20 par value

Issued shares:

Common stock, 75,000 at $2 par value        $150,000

6% Preferred stock, 5,000 at $20 par value   100,000

Additional Paid-in Capital, Common stock      975,000

Additional Paid-in Capital, 6% Preferred stock 25,000

Retained earnings, December 31, 2019          500,000

Total equity                                                   $1,750,000    

Explanation:

a) Data and Calculations:

Authorized shares:

Common Stock, 600,000 at $2 par value

6%, Preferred Stock, 80,000 at $20 par value

Issued shares:

Cash $1,125,000 Common stock $150,000 Additional Paid-in Capital, Common stock (75,000 * $13) $975,000

Cash $125,000 6% Preferred stock, $100,000 Additional Paid-in Capital, 6% Preferred stock $25,000 ($5 * 5,000)

Retained earnings, December 31, 2019 = $500,000  

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6. For a business that uses the allowance method of accounting for uncollectible receivables: (a) Journalize the entries to reco
Vika [28.1K]

Explanation:

The journal entries are shown below:

1 Bad debt expense $18,000  

              To Allowance for doubtful account  $18,000

(Being the bad debt expense is recorded)

2 Allowance for doubtful account $350  

                             To Accounts receivable  $350

(Being the written off amount is recorded)

3 Accounts receivable $200  

                         To Allowance for doubtful account  $200

[Being account reinstated]  

Cash $200  

               To Accounts receivable  $200

(Being the payment is received)

4 Cash $400  

        Allowance for doubtful account $200  

                         To Accounts receivable  $600

(Being the amount received is recorded)

5 0
3 years ago
The units of an item available for sale during the year were as follows:
ioda

Answer:

                             FIFO            LIFO              Weighted Average

Inventory cost =  $167,700      $145,600     $157,800

Explanation:

a) Data and Calculations:

Jan. 1       Inventory     1,000 units at $120  $120,000     $120,000

Feb. 17    Purchases    1,375 units at $128     176,000      296,000

July 21    Purchases    1,500 units at $136    204,000      500,000

Nov. 23  Purchases     1,125 units at $140     157,500      657,500

Dec. 31   Total units   5,000                        $657,500

Dec. 31   Inventory      1,200

Dec. 31   Units sold    3,800

Inventory cost by:

FIFO ( first-in, first-out method)

July 21    Purchases         75 units at $136  $10,200

Nov. 23  Purchases     1,125 units at $140   157,500

Dec. 31   Inventory      1,200                       $167,700

LIFO (last-in, first-out method)

Jan. 1       Inventory     1,000 units at $120   $120,000

Feb. 17    Purchases      200 units at $128      25,600

Dec. 31   Inventory      1,200                       $145,600

Weighted-Average Cost Method

Total cost of goods available/Total units available  for sale

= $657,500/5,000

= $131.50 per unit

Inventory cost = $157,800 ($131.50 * 1,200)

4 0
2 years ago
Rom what you know of the company so far, what will be among the variousconstituencies that the CSIRT will serve?
son4ous [18]

The question is incomplete, Below is the complete question.

Brody had been enjoying a nice, calm shift in HAL's network operations center. The calmness of the evening was interrupted, however, when a pop-up notification appeared on his monitor. The NIDS had detected malicious traffic on a brance network in Tuscaloosa, Alabama, specifically targeting the branch Web server. As Brody picked up the telephone to contact the on-call network tech for that office, the NIDS displayed another pop-up notification, this time reporting malicious traffic on a branch network in Mobile. In short order, it also displayed notifications for branches in Athens, Columbia, Auburn, and Starkville. Even more alarming, the NIDS indicated that the traffic was all coming from other branches within the company.

Brody immediately recognized that this was different from the typical attacks he'd seen in his time with the company and decided to call his boss, Nick Shula. It was 3:30 AM when he made the call.

"Hello?" said Shula, groggy with sleep.

"Boss, it's Brody," Brody said. "Sorry to be calling like this, but i think we've got a problemm. The NIDS is showing that Web servers in multiple branch offices are under attack, and the traffic is coming from inside our network. What do you want me to do?"

Shula, suddenly awake, thought back to the proposal that was sitting on his desk, concerning the creation of an incident response team for the company. Shula had een so busy with other things that he hadn't been able to consider the proposal at all. Mentally kicking himself, he muttered into the phone, "Why didn't I look at that proposal?"

"What was that, boss?" Brody said.

"Never mind," Shula said. He had to think quickly in order to guide Brody through the situation. "Call the firewall guy on duty," he said, "and have him put in a temporary rule on the DMZ firewall to block all inbound traffic to the Web servers from internal IP addresses." After all, it was the middle of the night, and very few, if any, employees would be doing any work that involved the Web servers. Shula figured he would jsut get up a little early and have the rule removed before normal working hours; hopefully, by then the attack would have stopped.

"OK boss, will do. Get back to sleep, now," Brody said.

Shula headed back to bed, thinking everything was OK. But as soon as his eyes closed, the phone rang again. He took a look at the caller ID and blanched. It was Mal Bryant,, the company CEO.

"Nick, it's Mal," Mal said. "Listen, I'm in Belgium and attached to the corporate network via the VPN. For some reason, I can't get to our internal Web server. You have ny idea what's going on?"

Shula sighed as he realized it was going to be a long night...

Two weeks later, Brody got an e-mail from Nick Shula inviting him to attend a meeting during the day shift later in the week. The meeting was being called to discuss the formation fo the company's new CSIRT.

Brody would be one of the employees identified to perform specific actions when events became incidents and the response plans were activated. As a front-line watch stander in the network operations center, Brody would play a critical role. In addition to his role as a key memeber of the response team, Brody was going to be invited to help develop the plans and procedures and would then be trained in how to be a first responder.

Discussion Questions:

A) From what you know of the company so far, what will be among the various constituencies that the CSIRT will serve?

B) Will the company need to hire more employees to meet the needs of the CSIRT, or would you suggest it outsource some of that effort?

ANSWER;

A) When we talk of CSIRT, it typically mean computer security incident response team.

It will actually help employees report,discuss and disseminate information as it regards computer security related information across the entire organization and it's various verticals.

CSIRT will actually help in timely response that is 24/7 and a coordinated effort in the handling of incident.

The department of information technology and other departments to that are partly or heavily making use of it's systems would actually be the ones typically affected by the formation of this body.

B) For CSIRT to be efficiently constructed,the organization should also outsource the work initially in majority.

However,in the later stages, once the employees are well trained,the company can then build upon it as in house department much more effectively and efficiently.

Also,the company should have at least a part of the work outsourced to have access continuously to the respective systems at all times. This will be required mainly because information security is a fast moving technology and the company as well as it's employees need to be updated regularly and also informed of external threats.

3 0
2 years ago
Jennifer Orgolini, the chief financial officer at New Belgium Brewery, explains that the benefits and rewards associated with th
Natali [406]

Answer: emotional intelligence

Explanation: The capacity of an individual to control, express and be aware of the emotions of others and himself is called the emotional intelligence.

    In the given case, Jennifer Orgolini is encouraging to the employees to participate in the philanthropy program. Such programs are focused on social welfare and will make the participants more emotionally aware. Thus such motivating depicts the company wants employees that have high emotional quotient.

     

7 0
3 years ago
Southwestern Foods Corporation operates a packaging plant near the border between the United States and Mexico. Due to the locat
zavuch27 [327]

Answer: Option D

                           

Explanation: In the given case, southwestern has been displayed as an american organisation . Therefore, it cannot employ any non citizen who do not have proper kind of paper work done that is needed by the authorities of the country.

Hence, the geographic advantages regarding employment does not mean anything in front of the legal formalities and rules that resides in the economic area.

7 0
3 years ago
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