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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

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A​ lump-sum purchase or basket purchase involves paying a single price for several assets as a group.
il63 [147K]

Answer:

TRUE

Explanation:

A basket purchase is the acquisition of a number of assets as a group, in a single purchase transaction. This is common when the basket purchase is lower than the price charged for individual assets.

7 0
3 years ago
Employee _______________ more readily occurs when employees are informed of the change and are educated on the reason for the ch
insens350 [35]

Employee buy-in more readily occurs when employees are informed of the change and are educated on the reason for the change.

An employee is a person who is paid to work for an individual or company. A worker does not have to work full time to be considered an employee. You just need to be paid for the work by your employer (the person or company that pays your wages).

The definition of employee is someone who works for another person or company for wages or other agreed remuneration. An example of an employee is someone employed by McDonald's who is paid a fixed amount for each hour worked.

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6 0
1 year ago
Ben has two options this weekend. He could work at his job and earn $10 per hour for three hours, or he could go to a concert fo
masya89 [10]

Answer:

The correct answer is: $60.

Explanation:

Opportunity Cost is what a person sacrifices when they choose one option over another. It is also defined as the revenue of the chosen option over the revenue of the option that was forgone. It represents what was left on the table for deciding taking one option over another.

In Ben's case, the opportunity cost of going to the event represents what he could have earned working for three hours (<em>$10 x 3 = $30</em>). However, as he will have to pay for the event, he will lose $30 for the event ticket. Then, the total opportunity cost of going to the event is:

$30 + $30 = $60

5 0
2 years ago
Suppose that the current value of all of a mutual fund's holdings is determined to be $750 million. The fund's liabilities are $
rusak2 [61]

Answer: B) $13.89 per share

Explanation:

In order to find the net asset value or NAV of a mutual fund we have to know the liabilities and assets that fund has as of the date that we want to calculate the NAV. Then we will subtract its total liabilities from its total assets. Then we will divide that number by the number of shares to find the net asset value.

Total assets = 750 million

Total liabilities = 125 million

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(750 million - 125 million)/45 million =13.89

3 0
3 years ago
In newspaper advertising, ________ advertising includes copy, illustrations or photos, headlines, coupons, and other visual comp
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Answer: Display

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2 years ago
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