Answer and Explanation:
The Journal entry is shown below:-
1. Cash Dr, $27,300
(1,300 × $21)
To Common Stock $1,300
To Paid in capital in excess of par-Common Stock $26,000
(Being issue of common stock is recorded)
2.Treasury stock Dr, $5,000
(250 × $20)
To Cash $5,000
(Being repurchase of treasury stock is recorded)
3. Cash Dr, $6,750
(250 × $27)
To Treasury stock $5,000
(250 × $20)
To Paid in capital-Treasury stock $1,750
(Being reissue of treasury stock is recorded)
Answer:
Value of scholarship today = $30,484.90
Explanation:
The value of the Scholarship is the present value of the annual payment of $9,000 discounted as the annual interest rate of 7% per annum.
This can be computed using the formula below
Present Value = Annual cash flow × (1- (1+r)^(-n)/r)
n -number of years, r-interest rate
rate r- 7%, n=4, Annual cash flow = 9,000
Present Value = 9,000× (1-1.07^-4)/0.07
= 9,000× 3.3872
= $30,484.90
Value of scholarship today = $30,484.90
Answer: Congress gives too many tax breaks to corporations.
Explanation:
Normative statements are said to be statement of opinion and not fact.
Option D is therefore a normative statement because it is the opinion of the speaker that congress gives too many tax breaks because from a neutral standpoint, it cannot be said with certainty the number of tax breaks that will be considered too much.
The other options are statements of fact.
The pre-determined overhead rate per direct labor dollar for Dept. B is 1.35.
<h3>What is manufacturing overhead?</h3>
Manufacturing overhead costs are the cost associated with running a manufacturing facility.
Examples of factory overhead include
- indirect labor costs
- factory rent
- depreciation of plants and machinery
- Sales and administrative cost
<h3>What is direct labour cost?</h3>
The direct labour cost is the cost directly involved in the production of goods and services.
<h3>What is the pre-determined overhead rate per direct labor dollar for Dept. B?</h3>
The pre-determined overhead rate per direct labor dollar for Dept. B = Estimated manufacturing overhead / Estimated direct labor cost
= $162,000 / $120,000 = 1.35
To learn more about overhead costs, please check: brainly.com/question/8054214
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This is a "False Statement" <em>The cost of notions is generally not insignificant part of a garment’s cost</em>
