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andrew-mc [135]
3 years ago
10

Prepare the journal entry to record Autumn Company’s issuance of 78,000 shares of no-par value common stock assuming the shares:

Business
1 answer:
amm18123 years ago
3 0

Answer:

A Journal entry was recorded for Autumn Company  which is given below.

Explanation:

Solution

(A) Journal Entry:

No      Account and Explanation         Debit        Credit

a      Cash (78000*32)                        2496000

            Common Stock                                           2496000

            (To record issued common stock)

(B) Journal Entry:

No      Account and Explanation           Debit     Credit

b          Land                                          2496000

                Common Stock                                     2496000

               (To record issued common stock)

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Answer:

$190

Explanation:

The equilibrium price of the lawnmower can be deduced from the graph ; it is the point of intersection of the orange and blue line ; which is the intersection point if the supply and demand line. The price axis is located on the vertical y-axis. This intersection point when traced to the left of the graph gives the equilibrium price. Hence, the equilibrium price as obtained from the graph is about $190

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3 years ago
You produce T-shirts, and it costs $3 to make each shirt. If you choose a price of $5 for each shirt, then you will _____.
aliya0001 [1]
The answer is earn a profit.
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4 0
3 years ago
7)In 2020, taxpayers with the following filing statuses may be eligible to claim the earned income credit except :
Nataly [62]

Answer:hgjugvycuuhubhbhhb

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4 0
3 years ago
Assume that you contribute $200 per month to a retirement plan for 20 years. Then you are able to increase the contribution to $
sveta [45]

Answer:

Total FV= $1,220,441.33

Explanation:

<u>First, we need to calculate the value of the $200 for 20 years. To calculate the future value, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

A= 200

n= 20*12= 240

Intertest rate= 0.07/12= 0.005833

FV= {200*[(1.005833^240) - 1]} / 0.005833

FV= $104,180.27

<u>Now, the value of the $300 for 30 years. At the same time, the future amount of the first investment. Each one with its separate formula.  </u>

$300 monthly investment:

n= 300*12= 360

FV= {300*[(1.005833^360) - 1]} / 0.005833

FV= $365,962.41

$104,180.27 investment:

FV= PV*(1+i)^n

FV= 104,180.27*(1.005833^360)

FV= $854,478,92

<u>Finally, the total FV:</u>

Total FV= 854,478.92 + 365,962.41

Total FV= $1,220,441.33

6 0
3 years ago
On August 2, 2019, Wendy purchased a new office building for $3,800,000. On October 1, 2019, she began to rent out office space
anastassius [24]

Explanation:

a)

Mid-month MACRS convention is applicable here because real property is placed in service in the middle of the month in which acquired.

b)

The life of the asset following MACRS is 39 years.

c)

Cost recovery deduction:    

The building is listed as the non-residential real property holding 39 years lifetime

Cost recovery deduction for 2015:

= $3,800,000 x 0.535%

= $20,330

Cost recovery deduction for 2019:

= $3,800,000 x 2.564% x (6.5/12 months)

= $52,776

3 0
3 years ago
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