The taxable value of the property in the tax area is usually referred to as the ? value

Record the issuance of 3,100 shares of $20 par value common stock for $50,000 of inventory, $155,000 of machinery, and acceptanc

Phoenix [80]

Answer:

Dr Merchandise inventory 50,000

Dr Machinery 155,000

Dr Notes receivable 100,000

Cr Common stock 62,000

Cr Additional paid in capital in excess of par value 243,000

Explanation:

All outstanding stocks must be recorded at par value: 3,100 shares x $20 = $62,000. Any mount paid for the stocks in excess of par value must be recorded in the additional paid in capital in excess of par value account : $305,000 - $62,000 = $243,000

4 0

4 years ago

1. Describe an example of a task that it might make sense for a company to outsource. (1-2 sentences. 2.0 points) 2. Describe th

Aleksandr-060686 [28]

I am not Sure What the question is explain a little better

3 0

4 years ago

Read 2 more answers

National Park Tours Co. is a travel agency. The nine transactions recorded by National Park Tours during May 2019, its first mon

Nutka1998 [239]

Answer:

National Park Tours Co.

Journal Entries

Sr. No Account Debit Credit

1) Cash 75,000 Dr

Beth Worley Capital 75,000 Cr

Invested in capital.

2) Supplies Expense 900Dr

Cash 900 Cr

Bought Supplies

3) Equipment 8000 Dr

Cash 1600 Cr

Accounts Payable 6400 Cr

Bought Equipment.

4) Operating Expenses 6280Dr

Cash 6280 Cr

Spent on Operating Expenses

5) Accounts Receivable 12300Dr

Fees Earned 12300 Cr

Provided Services on Account.

6) Accounts Payable 2700Dr

Cash 2700 Cr

Paid cash for a liability raised previously.

7) Cash 8,150Dr

Accounts Receivable 8,150 Cr

Received Services fees.

8) Supplies Expenses 660Dr

Supplies 660 Cr

Supplies expenses charged.

9) Beth Worley, Drawing 2500Dr

Cash 2500 Cr

Withdrew for personal use.

6 0

4 years ago

When recording variances in a standard cost system: Question 22 options: A. Only unfavorable material variances are debited. B.

Phoenix [80]

Answer: D. All unfavorable variances are debited.

Explanation:

When recording variances in a standard cost system, all unfavorable variances are debited.

The reason for this is that it should be noted that the unfavorable variances simply means that there's excess production costs, and hence this will bring about reduction in the operating income. Hence, all unfavorable variances are debited.

Therefore, the correct option is D.

4 0

3 years ago

Stock Company has 2,000 units in beginning work in process inventory, 20% complete as to conversion costs, 23,000 units transfer

ss7ja [257]

Answer:

B. 26,000, 24,000.

Explanation:

Stock Company

Equivalent units

Particulars Units % of Completion Equivalent Units

Mat. Conversion Mat. Conversion

Transferred Out 23000 100 100 23000 23000

Ending WIP 3000 100 331/3% 3000 999.9= 1000

Total Equivalent units 26000 24000

The Equivalent units can be calculated either by adding the units transferred out and ending WIP or by adding beginning WIP and units started.

Equivalent units for materials 26000

and Equivalent units for conversion are: 24000

3 0

4 years ago