Explanation:
The journal entry is as follows:
Land Dr $70,000
Additional paid in capital $5,000
To Common stock $75,000
(Being the common stock is issued in exchanged for cash)
The computation of the additional paid in capital is shown below:
= Common stock - the appraised value of land
where,
The common stock = 750 shares × $100 = $75,000
And, the appraised value of land is $70,000
So, the remaining balance is
= $75,000 - $70,000
= $5,000
The $5,000 would be recorded as an additional paid in capital
When the rpt and ctd are done being processed
Explanation:
No matter how bold or ambitious your plans are to grow your business, the key to your business's success lies in three critical, interdependent components: operational excellence, customer relations/communications and financial management.
Answer:
d) EPS cannot be calculated if a company has no preferred stock.
Explanation:
The above statement is untrue about E.P.S because the reason why 'Preferred dividend' (which is dividend on preference shares) is subtracted from Net Income, before being divided by the 'Average Number of Common Shares Outstanding' is for comparability.
Since the denominator is based on 'common shares' or 'ordinary shares', it makes sense not to include the part of income that has fallen to preferred shares.
As a matter of fact there are a lot of companies that do not have preferred stock and still report Earnings Per Share on their financial statements.
Finally, still on comparability; E.P.S helps to compare the performance of big companies that have preferred stock with small companies that do not have. Hence EPS can be calculated even when there is no preferred stock.
Classification systems have undergone several changes over a period of time to get proper categorization of the organism.
<h3>What is classification?</h3>
Classification can be told as the difference that can be between the plants and the animals which can be a based on various factors like the cell, discoveries, and the species.
Aristotle gave the first classification. He divided plants into three categories, RBC existence or disappearance was used to categorize animals. The recognized species cannot all be categorized using this technique.
Linnaeus created a two-kingdom categorization. Plant and Animalia are their constituent parts. But, there would have been numerous species that fell outside the realms.
Ernest Henkel divided on the basis of cells into a distinct dynasty, and so created a categorization of three kingdoms.
Copeland divided all prokaryotic creatures into a distinct kingdom called Monera, leading to the development of the Four-Kingdom.
R.H. Whittaker developed a five-kingdom method of categorization in 1969.
Learn more about classification systems, here:
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