1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Whitepunk [10]
2 years ago
6

Sudoku Company issues 26,000 shares of $8 par value common stock in exchange for land and a building. The land is valued at $235

,000 and the building at $380,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.
Business
1 answer:
EastWind [94]2 years ago
7 0

Answer and Explanation:

The journal entry to record the issuance of the stock in exchange of the land and the building is as follows:

Land $235,000

Building $380,000

            To Common stock, $8 par value (26,000 shares × $8) $208,000

            To Paid-in capital in excess of par value, common stock $407,000

(To record the  issuance of the stock in exchange of the land and the building)

Here the land and building is debited as it increased the assets and the common stock and its paid in capital is credited as it also increased the stockholder equity

You might be interested in
Crossroad Corporation is trying to decide whether to invest to automate a production line. If the project is accepted, labor cos
barxatty [35]

Answer:

kaby lame

Explanation:

Now don't get us wrong – not all of these answers raise this excellent question

8 0
3 years ago
An economic model is useful only if it: ______________
finlep [7]

Answer:

b. contains no positive statements.

5 0
2 years ago
Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,600,000, with an addit
Lorico [155]

Answer:

These are the missing multiple choices:

a. $3,780,000, b. $4,212,000, c. $720,000

The correct option is A,$3,780,000

Explanation:

The  total cost of Martson's new equipment comprises of the invoice price of the equipment of $3,600,000 plus the cost of installation and shipping costs of $180,000.

The rationale for the shipping and installation is that costs of asset should include costs incurred in bringing the asset to its present location and condition such as installation and shipping costs.

The costs of the assets is $3,780,000($3,600,000+$180,000)

8 0
2 years ago
David paid $975,000 for two beachfront lots in coastal South Carolina, with the intention of building residential homes on each.
Gnoma [55]

Answer:

The correct answer would be, Yes South Carolina would be compensating David as his property is now economically valueless.  

Explanation:  

Under the taking clause, 'The Beachfront Management Act was properly and validly designed to preserve South Carolina's beaches', which means that no one will be allowed to do any development project near beaches in order to save the beaches.  

Though it is already written in the Act, The Beachfront Management Act barred any further development on the coasts of Carolina, which makes the purchased property of David as economically valuless, so South Carolina would be compensating him as the law has passed and they won't allow further development but they need to compensate the people who purchased the property on the beaches for the purpose of future business.

7 0
3 years ago
Rhonda, a junior accountant at a manufacturing company, was laid off from her job because she rejected multiple requests from th
Shtirlitz [24]

Answer: quid pro quo sexual harassment

Explanation:

The scenario represented in the question regarding Rhonda and her company's chief financial officer is referred to as quid pro quo sexual harassment.

Quid pro quo sexual harassment is a situation that occurs when benefits, pay, employment, position, training, title, position are based on the condition that the other individual involved agree to ones sexual advances. It should be noted that this is illegal.

6 0
3 years ago
Other questions:
  • Elaine is upset with her group members because she wanted to lead the group but is not allowed to. She found that other group me
    8·1 answer
  • What is the majority of food made from
    7·2 answers
  • When a full set of general purpose financial statements is presented, comprehensive income and its components A. Appear as part
    7·1 answer
  • Which of the following is likely to occur as a result of new legislation regarding automobile safety
    6·1 answer
  • For february, sales revenue is $700,000; sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising e
    13·1 answer
  • How would a customer sales force structure benefit Reliable Tools? A. It would help the company's salespeople become experts in
    11·2 answers
  • Impact of strategy evaluation and control in gaining competitive advantage​
    7·1 answer
  • A graphical analysis of tariffs reveals that Multiple Choice they benefit domestic consumers at the expense of domestic producer
    6·1 answer
  • Please select the word from the list that best fits the definition
    9·2 answers
  • What are the 6 types of government spending?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!