I'm so sorry I don't know hopefully someone will help u
Answer:
Date General Debit Credit
$ $
Dec 31 Equipment 10000
Cash 10000
Following are detail of the posting of equipment purchased
1) The $10,000 will be posted to the debit side of the Equipment Account.
2) The $10,000 will be posted to the credit side of the Cash Account
Answer:
Future value
Explanation:
Future value is the value an assets as currently based on the assumed rate of its growth or increase.
Determining the future value of money or an investment helps one to make calculated decisions on what to get from the purchasing power of such money or how much the investment will be worth in the future.
Future value is calculated using
FVi=PV (1+I)n
Where
FVi is the value at the end of a particular period.
PV is price value.
I is the interest rate.
n is the number of compounding periods.
Answer:
International Monetary Fund, IMF and the World Bank
Explanation:
The Bretton Woods Agreement was negotiated in July, 1944 which established a new global monetary system. It made US dollar the global currency and replaced gold standard.
This agreement created The World Bank and International Monetary Fund (IMF) which would monitor the new monetary system.
The Bretton Wood system was dissolved in 1970's but IMF and The World Bank still exist and are strong pillars of global monetary system.
Answer:
Felix Incorporated
Exchange of Preferred Stock for Land:
Journal Entries:
Debit Land $90,000
Credit Preferred Stock $81,250
Credit Additional Paid-in Capital - Preferred Stock $8,750
To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.
Explanation:
Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value. The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock. Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records. The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.
