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ArbitrLikvidat [17]
3 years ago
12

A company issued 70 shares of $30 par value preferred stock for $4,000 cash. The journal entry to record the issuance is:______.

Business
1 answer:
PtichkaEL [24]3 years ago
7 0

Answer:

E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

Explanation:

Journal Entry for Issuance of 70 shares of $30 par value preferred stock for $4,000 is -

Cash Debited -  $4,000

Paid in Capital in excess of Par value Credited -  $1,900

Preferred Stock (70 shares × $30 each) Credited - $2,100

The correct option is - E. Debit Cash $4,000; credit Paid-in Capital in Excess of Par Value, Preferred Stock $1,900, credit Preferred Stock $2,100.

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In its first year of operations, Wildhorse Co. recognized $33,700 in service revenue, $7,800 of which was on account and still o
ale4655 [162]

Answer:

accrued basis income: 14,300

cash basis income:        9,500

Explanation:

accrued: we reocgnize base on the time of transfer of goods and the expense are mathced when the period they occur.

revenues                   33,700

operating expense <u> (19,400) </u>

  net income             14,300

cash basis: we recognize based on the cash collection or disbursement:

collected from customer     25,900

paid expenses                     (13,600)

insurance paid                  <u>    (2,800)  </u>

           net income                 9,500

4 0
3 years ago
Suppose Specific Automakers is considering signing a long-term contract with the union representing its workers. Specific Automa
natka813 [3]

Answer: Worsen; benefits

Explanation:

Specific Automakers is signing a long term contract with the union who are the representative of workers.

Real wages should increase by = 2%

Expected inflation = 5%

Nominal wage increase = 7%

Actual inflation = 6%

Actual inflation is greater than expected inflation, so this would worsen the union and it is beneficial for the automakers because now real wage increase is only:

= Nominal wage - Actual inflation rate

= 7% - 6%

= 1%

This is an example of re-distributive cost of inflation.

8 0
3 years ago
A Best Eastern Motel is a regional motel chain. Its rooms rent for $90 per night, on average. The variable cost is $40 a room pe
alexdok [17]

Answer:

The break even point in units is 24000 rooms per year.

Explanation:

The break even point in units is a point where enough units are sold to earn a revenue that covers the total cost of the business and there is neither a profit nor a loss to the business. The break even point in units can be calculated as follows,

Break even in units = Fixed cost / Contribution margin per unit

Where,

Contribution margin per unit = Selling price per unit - Variable cost per unit

So,

Contribution margin per unit = 90 - 40 = $50

Break even in units = 1200000 / 50    =  24000 units

3 0
3 years ago
Read 2 more answers
A firm estimates its average total cost at 90 units of output to be $15. If the firm can sell all of its output at a market pric
SSSSS [86.1K]

Answer:

435

Explanation:

5(90)=450-15=435

8 0
2 years ago
"Analyze why the principled negotiation would be the most suitable strategy in international trade negotiation? Take examples to
erica [24]

The reason principled negotiation would be the most suitable strategy in international trade negotiation is because it helps a party to leverage his/her principles of the opponent to win the negotiation.

The principled type of negotiation is recognized as an interest-based class of  negotiation.

  • A principled negotiation is known as a winner-take-all style of negotiation that is focused on a specific goal of winning.

  • In a principled type of negotiation, there are no space for consideration of other party’s needs and requirements.

  • However, a principled negotiations is limited because it can fail to settle dispute or conflict even if a parties has the highest intentions and negotiating skills.

In conclusion, the reason principled negotiation would be the most suitable strategy in international trade negotiation is because it helps a party to leverage his/her principles of the opponent to win the negotiation.

Read more about principled negotiation

<em>brainly.com/question/6106694</em>

6 0
2 years ago
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