Answer:
The correct answer is D. When the product is sold and delivered to a customer.
Explanation:
It is recognized at the time of the sale, because the company receives an income as a result of the recovery of its cost plus the established profit margin. When the sale has not been made, it remains within the product inventories until the sale occurs and becomes an operational income.
Answer:
$9.94
Explanation:
Equivalent unit of conversion cost = 56,800 + (7,300*40%)
Equivalent unit of conversion cost = 56,800 + 2,920
Equivalent unit of conversion cost = 59,720 unit
Total cost of conversion = $34,558 + $559,254
Total cost of conversion = $593,812
Cost per equivalent unit of conversion = Total cost of conversion / Equivalent unit of conversion cost
Cost per equivalent unit of conversion = $593,812 / 59,720 units
Cost per equivalent unit of conversion = $9.9432686
Cost per equivalent unit of conversion = $9.94
Stock;
coupon
face
bonds;
closing
maturity
Answer:
A) Cash (debit) 180,000; Common stock (credit) 150,000; Additional paid-up capital-common stock (credit) 30,000 - Debit - Credit = 0
B) Cash (debit) 255,000; Preferred stock (credit) 250,000; Additional paid-up capital-preferred stock (credit) 5,000 - Debit - Credit = 0
C) Cash (debit) 900,000; Common stock (credit) 600,000; Additional paid-up capital-common stock (credit) 300,000 - Debit - Credit = 0
Explanation:
In Eastport Inc.´s case all 3 situations are similar, shares (Stockholders´Equity) increased, so credits in 4 accounts, according to the type of shares that are issued, must be registered: Common stock, Preferred stock, Additional paid-up capital-common stock, Additional paid-up capital- preferred stock. We will recognize the par value and stated value of the shares and the difference between this and the price paid by shareholders will be recognized as additional paid-up capital. Also, cash (Asset) is received as payment for the shares so a debit must be registered in the account Cash.
Answer:
$50
Explanation:
Fortune Company
Paid-in capital,Treasury stock:
May1 $ 0
July 1: $2/share *50 shares 100
August 1:$1/share*50 shares (50)
Balance August 2 $ 50
Therefore the balance in the Paid-in Capital, Treasury Stock account on August 2 will be $50
