Answer:Flint corporation journal $
Date
1. Bank account Dr 7800
Common stock Or. 7800
Narration. Issuance of 700 ordinary stock for $7800 .
2. Bank account Dr 7800
Common stock Cr. 1400
Share premium. 6400
Narration. Issuance of 700 ordinary at $7800 at a premium.
Explanation:
Shares can be issued at par, premium or discount. When it's issued at it's nominal value it's said to be issued at par, when it's issued above it's nominal value it's said to be issued at a premium and when it's issued below par it's said to issued at a discount.
Answer:
$122,500
Explanation:
Calculation for the amount of the common fixed expense not traceable to the individual divisions
First step is to calculate Total segment margin
Total segment margin = $43,600 + $174,300
Total segment margin= $217,900
Now let calculate the Common fixed expense
Common fixed expense = $217,900-$95,400
Common fixed expense $122,500
Therefore the amount of the common fixed expense not traceable to the individual divisions is $122,500
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