A company issued 6,000 shares of stock at $10 each, with a par value of $2.

When a corporation issues its capital stock in payment for services, the least appropriate basis for recording the transaction i

koban [17]

Answer:

par value of the shares issued.

Explanation:

In the case when the corporation issued the capital stock with regard to the service payment so the least & appropriate basis for recording the above transaction would be the par value of the shares issued as it would leads to the excess payment

Therefore according to the given situation the last option is right

8 0

2 years ago

The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde

lbvjy [14]

Answer:

Exercise 15-8

1. Raw materials purchases for cash.

Raw Materials $210,000 (debit)

Cash $210,000 (credit)

2. Direct materials usage.

Work In Process : Indirect Materials $186,000 (debit)

Raw Materials $186,000 (credit)

3. Indirect materials usage.

Work In Process : Direct Materials $15,000 (debit)

Raw Materials $15,000 (credit)

Exercise 15-9

1. Direct labor usage.

Work In Process : Direct Labor $265,000 (debit)

Salaries and Wages Payable $265,000 (credit)

2. Indirect labor usage.

Work In Process : Indirect Labor $80,000 (debit)

Salaries and Wages Payable $80,000 (credit)

3. Total payroll paid in cash.

Salaries and Wages Payable : $345,000 (debit)

Cash $345,000 (credit)

Explanation:

Raw Materials - T Account (To determine the Materials Transferred to Production)

Debit

Opening Balance $ 43,000

Add Purchases $210,000

Totals $253,000

Credit

Closing Balance $ 52,000

Transferred to Production (Balancing figure) $201,000

Totals $253,000

Thus, Direct Materials = $201,000 - 15,000 = $186,000

3 0

3 years ago

June Corp. sells one product and uses a perpetual inventory system. The beginning inventory consisted of 80 units that cost $20

inn [45]

Answer: 200 units

Explanation:

Beginning inventory 80 units.

Company Purchases <u>480 units</u>

Total 560 units

Sales <u>(360 units)</u>

Ending Inventory 200 units

200 units remain in Ending inventory.

7 0

2 years ago

What is the difference between independent variables and dependent variables in a spreadsheet?

kirill115 [55]

On a spreadsheet there are two types of variables independent and dependent. Independent variables refer to those that can be changed and their value that is changing. A dependent variable is something that remains the same and the value of it does not change.

6 0

2 years ago

Top managers are responsible for the ultimate responsibilities within an organization,which include which of the following? (Cho

kondaur [170]

Answer:

The answer is establishment of organisational goals

Explanation:

The top managers set long-term goals and define strategies to achieve them. they make the decisions that affect the whole company such as financial investments, mergers and acquisitions, partnerships and strategic alliances, and changes to the brand or product line of the organization.

6 0

3 years ago