должна спуту! a. Issued 1,000 shares of $10 par common stock at $59 for cash.
Q: A company uses a machine to manufacture its product. The operating results of the company for a…
A: Lets understand the basics. When management have more than one alternative then management need to…
Q: When preparing a Balance Sheet for a partnership, Total Assets must equal what? Group of answer…
A: Partnership Account - A partnership is a mutual agreement enter into two or more entities for the…
Q: Determine the missing amount for each separate situation involving manufacturing costs. (1) (2) (3)…
A: Cost of goods manufactured: Cost of goods manufactured means total manufacturing costs; including…
Q: Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for…
A: FIFO Inventory Method - Under FIFO Inventory Method company use to sell those inventory which are…
Q: Coffee Co. incurred P5,000,000 on a self-created computer software, P2,100,000 of which was incurred…
A: Lets understand the basics. Ass per IAS 38 "Intangible assets", all expenditure incurred up to…
Q: bags of coffee beans that each staff can complete in a day. They have 10 employees, each working…
A: Multi-Factor Productivity: Multi Factor Productivity is the measure of business activities…
Q: Auto sales at Carmen's Chevrolet are shown below. Using the naive approach, what is the forecasted…
A: Naive approach is one of the method of estimation or forecasts under which actual data for previous…
Q: No. 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. Account…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: Problem 9-7B Calculate the issue price of a bond and prepare amortization schedules (LO9-5, 9-7)…
A: Issue price of bond is the present value of all future payments. As the market rate of interest is…
Q: Exercise 3. Adjusting entries for unearned fees ( The balance in the unearned fees account, before…
A: Unearned fees is one of the liability for the business, which means fees amount received but not yet…
Q: Consider a group of students who will be conducting a fund-raising activity by selling cookies. They…
A: Total boxes of cookies made per day = 120 boxes Total hours per day for all 4 students = 40 hours
Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…
A: Shares refer to the market security that the company issue to raise funds from the market by…
Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…
A: Cash received on issue of 2000 preferred stock at par = 2000 ×$100 = $200000
Q: Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory…
A: The last in first out method is an inventory valuation and inventory management method. The last in…
Q: What are the dividends per share for preferred and common, respectively?
A: Dividend refers to that portion of the net income of the company which the company paid to its…
Q: See the attached pic first before answering. On June 18, ABC Company paid the purchases on June 13…
A: Purchase discount is the allowance or reduction which is allowed on purchases of the business and…
Q: During January 2020, ABC Company which maintains a perpetual inventory system, recorded the…
A: Introduction: Under the moving average method of inventory valuation, cost of sale as well as cost…
Q: A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a…
A: A Journal entry is a primary entry that records the financial transaction initially. The…
Q: 4/2 Purchased three computers and a printer from Best Buy for $2,000 how to solve this problem? with…
A: • Basic Accounting Equation is given as under: Assets = Equity + Liabilities Meaning, Total…
Q: t o
A: The End product of an Audit is a report expressing the Auditor's Opinion on the client's financial…
Q: From the following particulars taken from the Cash Book of a mask club, prepare a Receipts and…
A: Introduction: The receipt and payments account summarizes a fiscal season's operational cash…
Q: A plant bought a calciner for P220,000.00 and uses it for 10years, the life span of the equipment.…
A: Depreciation Methods: a) Straight Line Method: Calculation of Book Value of Calciner (Asset) after 5…
Q: What term is used to refer to denote that creditors usually may not go beyond the assets of the…
A: Unlimited liability is a liability that extends to the personal property of the partners of the…
Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…
A: A Journal entry is a primary entry that records the financial transactions initially. The…
Q: Journal 7 Bought motor vehicle by cheque for RM4,300 11 Sold goods to Karas Sdn Bhd on credit for…
A: Introduction:- Journal entry is the first stage of accounting process. Journal entry used to record…
Q: C. Shelton contributed land, inventory and $58,000 cash to a partnership. The land had a book value…
A: Introduction: Journal entries are created in chronologically and adhere to the double-entry…
Q: 2) 3) Explain Prudence concept and provide example. Explain Going Concern concept and provide…
A: Note: As per our guidelines, only the first question shall be answered. 2) Prudence concept:…
Q: Gomes Company uses special journals and a general journal. The following transactions occurred…
A: Journal entry is a process of recording and classifying business transactions initially into books…
Q: What can be defined as sufficiently important to influence decisions made by reasonable users of…
A: The financial statements are the statements that record all the transactions of the company. These…
Q: Develop a personal cash budget for the next six months. Explain what you would do if there are…
A: Personal budget refers to the planning tool which individuals uses for computing the disposable…
Q: The pipe making machine costs $25,000 and has an expected scrap value of $5,000 at the end of its…
A: RB method is reducing balance method of depreciation, under which depreciation is being charged…
Q: Cost of goods manufactured $198,240 Selling expenses 66,220 Administrative expenses 35,010 Sales…
A: Aricanly Manufacturing CompanyCost of Goods SoldJanuary 31 Finished goods inventory, January 1…
Q: Required information Problem 9-7B Calculate the issue price of a bond and prepare amortization…
A: Given: - Face value of bond= $720,000 Semiannual coupon: - $720,000×6%2=$21,600 Semiannual market…
Q: He was
A: Facts of the case :- 1] Franklin is a legal resident of New…
Q: Complete the following data taken from the condensed income statements for merchandising Companies…
A: 1. Sales = Gross profit + Cost of goods sold 2. Operating expenses = Gross profit - Net income 3.…
Q: Please add detail explanation for all calculation. Built-Tight is preparing its master budget for…
A: Introduction: The cash budget is created to keep track of all cash receipts and payments made…
Q: Bank Reconciliation Use the following information to prepare a bank reconciliation for Dylan Company…
A:
Q: Roman Destinations issues bonds due in 10 years with a stated interest rate of 5% and a face value…
A: The bonds are the financial instruments of the business that are used to raise the money from the…
Q: Why would a supplier require a customer to sign a promissory note?
A: A promissory note can be defined as a document written and signed by the person who makes it. It is…
Q: Which of the following goods shall be included in the inventory account of an entity? A. All goods…
A: Inventory is one of the current asset of the business, which includes inventory of raw materials,…
Q: Gregg company uses the allowance method for recording its expected credit losses. It estimates…
A: Bad debt expense = Credit sales × 3% = $900,000×3% =$27000
Q: What is trial balance? Describe in detail
A: Trial balance depicts the closing balances of various accounts that incurred any transaction for the…
Q: Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of…
A: A note receivable is a written promise to pay a certain sum of money at a future date or on the…
Q: Cost of goods manufactured $198,240 Selling expenses 66,220 Administrative expenses 35,010 Sales…
A: Formula to be used is :- Cost of finished goods available for sale = Beginning finished goods…
Q: Compute Payroll An employee earns $22 per hour and 2 times that rate for all hours in excess of 40…
A: The gross pay of an employee indicates the total earnings to an employee for the services provided.…
Q: The unearned rent account has a balance of P36,000. If P4,000 of the P36,000 is unearned at the end…
A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…
Q: The dividends and earnings of Company ABC are expected to grow as follows: - 20 percent a year for…
A: Cost of equity= risk free return + Beta(rate of return- risk free return) = 5% + 0.8*(10%-5%) = 9%
Q: ▪ Issued 4,800 shares of $2 par value common stock for $26. It authorized 20,000 shares. • Issued…
A: The balance sheet shows the financial position of the company. It involves the assets, liabilities,…
Q: QUESTION 1 A company had the following purchases during its first year of operations: Sales…
A: The weighted average cost technique is for valuing and managing inventories. To get the weighted…
Q: Year 0 1 2 Recognized Gain
A: Year Recognized Gain ($) 0 0 1 0 2 125000
Step by step
Solved in 2 steps
- A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additionalpaid-in capital would be ________.A. $11,985B. $12,000C. $15D. $10,150A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to recordthe transaction would include which of the following?A. debit of $4,000 to common stockB. credit of $20,000 to common stockC. credit of $40 to common stockD. debit of $20,000 to common stockA company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be________. A.$11,985 B.$12,000 C.$15 D.$10,150
- Prepare the journal entry to record Zende Company's issuance of 79,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheetA company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the transaction would include which of the following? A. debit of $4,000 to common stock B. credit of $20,000 to common stock C. credit of $40 to common stock D. debit of $20,000 to common stockIf Dakota Company issues 1,100 shares of $6 par common stock for $24,200, a.Cash will be debited for $6,600. b.Common Stock will be credited for $24,200. c.Paid-In Capital in Excess of Par will be credited for $17,600. d.Paid-In Capital in Excess of Par will be credited for $6,600.
- MC Qu. 11-64 A company issues... A company issues 1 million shares of common stock with a par value of $0.14 for $16.20 a share. The entry to record this transaction includes a debit to Cash for: Multiple Choice $140,000 and a credit to Common Stock for $140,000. $16,200,000 and a credit to Common Stock for $16,200,000. $16,200,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000. $140,000, a debit to Capital Receivable for $16,060,000, a credit to Common Stock for $140,000, and a credit to Additional Paid-in Capital for $16,060,000.a. XYZ Company issued 500 shares of $2 par common stock at $5 per share. DATE Debit Credit X/XPrepare the journal entry to record Zende Company's issuance of 84,000 shares of $8 par value common stock assuming the shares sell for: a. $8 cash per share. b. $9 cash per share. View transaction list Journal entry worksheet 1 Record the issuance of 84,000 shares of $8 par value common stock assuming the shares sell for $8 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal Saved >
- Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has a $3 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $33,500. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $58,500 cash. Exercise 11-4 (Algo) Recording stock issuances LO P1 Prepare journal entries to record each of the following four separate issuances of stock. Journal entry worksheet LiPrepare the journal entry to record Zende Company's issuance of 65,000 shares of $4 par value common stock assuming the shares sell for: a. $4 cash per share. b. $5 cash per share. View transaction list Journal entry worksheet Record the issuance of 65,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journalMJH Company issued 50 shares of stock with a par value of $10 per share for $12 a share. The entry to journalize this would include: a credit to cash of $600 a debit to cash of $600 a debit to common stock of $500 a debit to Paid in Capital in Excess of Par of $100