Recording the Sale of Common Stock
Yellow Company, a food coloring manufacturer that provides its products to large processed-food corporations, issues 48,000 shares of common stock (par value $20) for $30 per share.
Required:
Prepare the necessary journal entry to record this transaction. If an amount box does not require an entry, leave it blank.
Cash ______ 0
Common Stock 0 _______
Additional Paid-In Capital-Common Stock 0 _______
Answers
The journal entry for this transaction will be:
Cash A/c....Dr. $14,40,000 (48000*30)
Common Stock A/c....Cr. $9,60,000 (48000*20)
Paid in capital in excess of par-common stock $4,80,000
Journal entry can be defined as a process of organizing the financial records of a company by systematically recording all the financial transactions. The financial transactions are recorded in a summarized manner. A journal entry is a record of a business's financial transactions kept in its accounting books. An accurate date, the amounts to be debited and credited, a description of the transaction, and a special reference number are all components of a properly documented journal entry.
Journal entries are as follows:
Cash A/c....Dr. $14,40,000 (48000*30)
Common Stock A/c....Cr. $9,60,000 (48000*20)
Paid in capital in excess of par-common stock $4,80,000
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Related Questions
_____ is a customer-oriented approach that uses truthful, nonmanipulative tactics to satisfy the long-term needs of both the customer and the selling firm.​
Answers
Sales professionalism is a customer-oriented technique that uses straightforward, nonmanipulative strategies to fulfill the lengthy-term wishes of each customer and the promoting firm.
Sales professionalism is the capability to interpret the customer's desires and act with the use of proper etiquette while interacting with capable customers. a great sales clerk can use professionalism to build a nice relationship with their customers and customers. An income professional is a person who sells services or products to ability clients. They are seeking to solve potential challenges via the goods they sell. first-rate sales professionals will have strong promotion and communication capabilities.
Salespeople increasingly depend on non-public and expert attributes to build long-time period rapport with customers. Combining professionalism with powerful interpersonal skills and persuasive communication capabilities normally leads to robust promoting performance.
Traits of a successful Sales professionalism:
apprehend the product and its benefits. recognize the purchaser earlier than you pitch them.Have your consumer's nice interests in thoughts. do not be too pushy. don't attempt to rush trust. Be pleasant. advantage enjoy within income. usually have an elevator pitch.Learn more about Sales professionalism here:
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38.0omplete question fred’s agi is $150,000. he contributed $90,000 in cash to a public charity. what is fred’s charitable contribution deduction for amt purposes?
Answers
Fred's charitable contribution deduction for AMT purposes would be $37,500.
For regular income tax purposes, the limit on deductible charitable contributions is typically set at a percentage of the taxpayer's AGI. However, when calculating the deduction for AMT purposes, a different set of rules comes into play.
In Fred's case, since his AGI is $150,000, we need to determine his AMT income before calculating the charitable contribution deduction. Let's assume, for the sake of this example, that Fred's AMT income is also $150,000.
Now, we can calculate the charitable contribution deduction for AMT purposes. According to the AMT rules, the deduction is limited to 25% of the taxpayer's AMT income. Therefore, in this case, the deduction would be:
Deduction = 25% of AMT income
Deduction = 0.25 * $150,000
Deduction = $37,500
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If the export value of American educational institutions is more than twice that of America’s top agricultural export, and supports 455,000 jobs, we can conclude that
Multiple Choice
A. exports of higher education represent an important component of the U.S. economy.
B. exports of higher education are paid for in foreign currencies effectively bypassing EXIM bank requirements.
C. American universities have been recruiting foreign students to the detriment of U.S. students.
D. exports of higher education will continue to grow without export assistance.
E. U.S. taxpayer dollars are being spent in foreign countries rather than domestically.
Answers
The export value of American educational institutions is more than twice that of America's top agricultural export and supports 455,000 jobs. As a result, we can conclude that exports of higher education represent an important component of the U.S. economy. The correct option is (A).
Exports of higher education represent an important component of the U.S. economy because the export value of American educational institutions is more than twice that of America's top agricultural export, which supports 455,000 jobs. In 2015, 974,926 international students attended American colleges and universities, contributing $35.8 billion to the economy in the form of tuition, room and board, and other expenses. For each job supported by foreign students, three jobs are created or supported, according to NAFSA.
The correct option is (A).
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Which statement best illustrates the relationship between three different
elements of the circular flow of products?
A. Product markets offer labor to businesses, which creates jobs for
households.
B. Resource markets sell goods to product markets, which sell the
goods to businesses
C. Households pay wages to businesses, which can then set up
product markets.
D. Businesses create goods for product markets, which sell them
directly to households.
Answers
Answer: is D
Explanation:
The statement, businesses create goods for product markets, which sell them directly to households, is best illustrates the relationship between three different elements of the circular flow of products.
What is a circular flow?
The most popular version of this model displays the circular flow of revenue between the consumer and business sectors. The product market and the resource market are placed between the two.
Consumer spending is the mechanism through which households' money flows to the market for goods and services when they are in need of them. The product market purchases goods and services from companies and sells them to households, making a profit.
As a result, option (d) is correct.
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Can Some people give me brainliest I'll give ya'll all my points when I see it
Answers
Answer:
Explanation: why u delete all your questions that u answered for me?
When considering a product's characteristics and the rate of adoption, complexity refers to the degree to which a new product is _______.
Answers
Complexity has to do with how it's difficult to understand and use the new product.
What is complexity?Complexity simply means the difficulties regarding the use of a particular product.
In this case, when considering a product's characteristics and the rate of adoption, complexity refers to the degree to which a new product is the difficulties to understand and use the new product.
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Which is not a benefit of a checking account?
Answers
Answer:
no interest
Explanation:
A checking account is a type of account that enables comfortable deposits and withdrawal of money for regular trades.
It can include deposit and withdrawal of cash as well as cheque.
Getting no interest in a checking account is not a beneficial factor.
The benefits of the checking accounts are convenience, easy budgeting and safety.
As compared to the saving account having a proof of payment is the beneficial point of having checking account.
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instructions:wikarambulan is a sound like game. by saying\pronouncing and connecting the word, reveal the elements and factors of principles, tools and techniques in creating a business. write your answer on the blank space provided in the side of the paper.
1. IS TRE ENGCKS
2. OP FORTUNE NI TEAS
3. WEEK NEST CES
4.THREE EATS
5. IN DUST TREE
6. END BY RON MEANT ALL
7. PIE HAVE FOUR ZEST
8. ENCHO NO MEEK
9. SOAP FLYER
10. COST TOO MHER
Answers
Answer:
1.strengths
2.opportunities
3.weakneses
4.threats
5.industry
6.environment
8.economic
9.supliyer
10.customer
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answers
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
In the united states what is the significance of April 15
Answers
Answer:
Hope it helps
have a good day Ahead
April 15th of the United States is Tax day
jackie enjoys garage sales and the bargaining process. she finds an old record player and some records for $25 at one garage sale. in negotiating with the owner, she was able to pay $12 for the entire bundle. which desire as a customer did this experience fulfill for jackie?
Answers
The customer experience of finding a price that is as little as possible or the bundle was fulfilled for Jackie.
A sort of negotiation called bargaining or haggling occurs when the buyer and seller of a commodity or service argue over the cost and the specifics of the transaction in an effort to reach an understanding.
Through the process of collective bargaining, the union and employer can discuss proposals, share ideas, work together to address difficulties, and come to a written agreement. The majority of the time, negotiations take place just before a contract is about to end.
In collective bargaining, a deal between employers and employees is the goal. While negotiations are going on, members can participate in the conversation by speaking with their representatives. Building a strong local union is another excellent opportunity provided by workplace bargaining and negotiation.
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All of the following statements correctly describes the recognition of operating leases EXCEPT: a. A lease liability is recognized on the balance sheet and represents the present value of all remaining lease payments. b. The interest expense is calculated based on the outstanding lease liability balance. c. The amortization expense of the right-of-use asset is calculated using the straight-line depreciation method over the lease term. d. The amortization expense of the right-of-use asset and the interest expense on the lease liability are recorded as a single item called lease expense on the income statement.
Answers
Among the given statements, option d is the one that does not correctly describe the recognition of operating leases. In accounting for operating leases,
the amortization expense of the right-of-use asset and the interest expense on the lease liability are not recorded as a single item called lease expense on the income statement. Instead, these expenses are recognized separately.
In operating lease accounting, a lease liability is recognized on the balance sheet (option a), representing the present value of all remaining lease payments. The interest expense (option b) is calculated based on the outstanding lease liability balance, applying the effective interest method. This ensures that the interest expense reflects the reduction in the lease liability over time.
Regarding the amortization expense of the right-of-use asset (option c), it is typically calculated using the straight-line depreciation method over the lease term. This means that the asset is systematically allocated over the lease period, resulting in a consistent expense recognition pattern.
In summary, option d is incorrect because the amortization expense of the right-of-use asset and the interest expense on the lease liability are recognized as separate items on the income statement, rather than being combined as a single expense called lease expense.
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HELP PLEASE, THIS IS TIMED!!!!!!
Answers
Explanation:
I think the answer it's c
powers company reported net sales of $1,220,000, average accounts receivable, net of $76,500, and net income of $51,875. the accounts receivable turnover ratio is:
Answers
The accounts receivable turnover ratio can be calculated by dividing the net sales by the average accounts receivable. So, the turnover ratio for Powers Company would be:
Accounts Receivable Turnover Ratio = Net Sales / Average Accounts Receivable
Accounts Receivable Turnover Ratio = $1,220,000 / $76,500
Accounts Receivable Turnover Ratio = 15.97
Therefore, the accounts receivable turnover ratio for Powers Company is 15.97. This means that the company collects its accounts receivable almost 16 times a year on average. To calculate the accounts receivable turnover ratio for Powers Company, you'll need to divide net sales by the average accounts receivable. With net sales of $1,220,000 and average accounts receivable of $76,500, the formula is: Accounts Receivable Turnover Ratio = Net Sales / Average Accounts Receivable Accounts Receivable
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QUESTION 2 of 10: Your Maitre'd's starting salary is $38,000/year. You have promised her an 8% raise per year for her first 5 years. What yearly salary be after 5 years? a) $23,725 b) $42,114 c) $49,189 d) $55,834
Answers
Answer:
D) 55,834
Explanation:
Arantxa corporation has outstanding 20,000 shares of $5 par value common stock. on august 1, 2014, arantxa reacquired 200 shares at $80 per share.
Answers
The journal entries to record these transactions of Arantxa corporation using the cost method are given below.
How do you define journal entries?The journal entry can encompass numerous recordings, every of that's both a debit or a credit. The act of maintaining or making statistics of any transactions both financial or non-financial is referred to as journal entries.
The missing information in the question can be given below:
On November 1, Arantxa reissued the 200 shares at $70 per share. Arantxa had no previous treasury stock transactions. Prepare Arantxa's journal entries to record these transactions using the cost method.
As per the given information,
The journal entries for the given information are as follows:
Treasury A/c Dr. $16,000
To Cash $16,000
Cash $14000
Retained Earnings $2,000
To Treasury stock $16,000
Hence, the journal entries recording the given transaction relating to treasury stock are explained above.
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The journal entry for the shares reacquisition on August 1, 2014, of Arantxa Corporation is as follows:
Journal Entry:August 1, 2014:
Debit Treasury Stock $1,000
Debit Additional Paid-in Capital - Common Stock $15,000
Credit Cash $16,000
To record the re-acquisition of shares at $80 per share.Transaction Analysis:August 1, 2014:
Treasury Stock $1,000 Additional Paid-in Capital - Common Stock $15,000 Cash $16,000 ($80 x 200)
Question Completion:Show the journal entries for the given information above.
Thus, the journal entry above shows that the shares were reacquired at a premium of $75 ($80 - $5) per share.
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The amount by which government spending exceeds government revenues in a given time period is known as the: A. Budget surplus. B. Budget deficit. C. National debt. D. External debt.
Answers
Answer:
A. Budget surplus
Explanation:
A budget surplus is when income exceeds expenditure. The term " budget surplus" is used in reference to a government's financial state.
What strategy exercise would help the managers at Sweet Tooth identify the strengths of the company and also identify the major challenges the company faces?
Answers
SWOT analysis One of the strategy exercise that could help Sweet Tooth managers identify the strengths and challenges of the company is a
This exercise involves examining the company's strengths, weaknesses, opportunities, and threats in order to develop a strategic plan that addresses these factors. By conducting a SWOT analysis, managers can identify the areas where the company excels, such as product quality or customer service, as well as areas where the company needs improvement, such as marketing or supply chain management.
Additionally, the analysis can identify external factors that may present challenges, such as competition or changes in consumer behavior. Once these factors are identified, managers can develop a strategy that builds on the company's strengths and addresses its challenges in order to position the Sweet Tooth company for long-term success.
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27. Many organizations do not have a formal trouble reporting system. Why do you think this is the case?
Answers
Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.
Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.
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john decides to cheat on a contract promise to get paid faster so that he can give that money to desperate disaster victims. from an ethical perspective, john decides that
Answers
John decides to cheat on a contract promise to get paid faster so that he can give that money to desperate disaster victims. From an ethical perspective, the end of John's action justifies the means. The decision taken by John would have a positive impact on the victims' lives.
An ethical perspective is a lens an individual uses to view a problem. Each person has such a perspective, whether or not they realize it. With the ethical perspective, one identifies and differentiates the proper concepts of good and bad, helps to define problems by systematically thinking, and allows one to see the realities from different points of view, to be able to take decisions. The ethical perspective is acquired throughout life and is related to habit, with the definition of what is good (virtue) or bad (vice).
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A firm is issuing new debt to finance some capital investment project. The firm will issue 20,000 new $1,000 face-value bonds that will mature in 20 years. The bonds have a coupon rate of 8% and are currently priced at par. The flotation costs that are associated with this new bond issue are expected to be $10 per bond. Further, the company has a marginal tax rate of 34%. Given this information, the before-tax cost of debt is _______________.
Answers
Answer:
8.09%
Explanation:
the coupon paid by each bond = $1,000 x 8% = $80
the net amount of money received from each bond = $990
n = 20
now we must find the yield to maturity:
YTM = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]
YTM = {$80 + [($1,000 - $990)/20]} / [($1,000 + $990)/2] = $80.50 / $995 = 0.0809 = 8.09%
In this digital age of free information, it can be a chore to convince consumers, especially young ones, to purchase some products. After all, for every Web app or program that isnât already distributed freely, there are about a dozen other ways to obtain it through easy but extralegal means. Nevertheless, information and the ways in which it is transmitted will become no more restrained in five years than they are now. Rather than react with higher prices and stringent policies, entrepreneurs must adapt and find ways to integrate the free flow of information into their moneymaking schemes. For instance, in 2006 Eric Alder and Julien Chabbott graduated from college with an idea for a smartphone app that would provide regular updates on the wait times of lines around town. The app was to be driven by social media with individual users providing the app with the estimated length of the lines they were standing in. But the pair of young entrepreneurs faced a quandary. Without accurate line times built in, nobody would use the app. And if nobody used the app, there wouldnât be enough reliable data to formulate accurate line times. In order to get the app off the ground, Alder and Chabbott first distributed Line Snob for free on the iPhone marketplace. Then the pair rewarded users who reported wait times with points that could be redeemed for coupons. And rather than rely solely on word of mouth, Line Snob ingratiated itself with popular venues that uploaded data on their own lines and posted fliers about the app around their queues. Once Chabbott and Alder established their user base, they began making money by charging companies a monthly fee for using the app. Line Snob is especially popular in Las Vegas, where hotels use it to announce which buffet or club lines are the shortest. The app remains free for regular users, and the company hopes to unveil soon a new feature that can predict line waits before they occur.[i]
Questions: What key entrepreneurial characteristics seemed to drive Alder and Chabbott?
Answers
Alder and Chabbott were driven by a willingness to take risks, a strong sense of purpose, creativity, resourcefulness, and a strong work ethic.
What is creativity?Creativity is the ability to think outside the box, to come up with new ideas or solutions to everyday problems. It is the ability to imagine, invent and create something new. Creativity involves the use of imagination, ingenuity and innovation to produce original ideas and solutions. It is a skill that can be developed, nurtured and encouraged, and is essential for problem-solving, growth and development. Creativity is a vital component in all aspects of life, from the arts to business and technology. It is the spark that ignites new ideas and methods, innovation and inspiration.
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In this discussion forum answer the following:
1. What are Wanda's ethical and social responsibilities
about the data she collects and uses?
2. How can Wanda protect herself and her business
from cyber-crimes that would have a negative impact
on her business?
3. How concerned are you about the security of your
personal information on the Internet? Does it impact
what you do online in terms of shopping, sharing
information, or other activities?
Answers
The ethical responsibility that Wanda has is to protect the information that she has from her customers data.
1. What are Wanda's ethical and social responsibilities about the data she collects and uses?Wanda has to be able to protect the information she gets as the users get their data to be in her hands. She has to protect it from getting into the hands of third parties either through the sale of information or from the misuse of information.
2. How can Wanda protect herself and her business from cyber-crimes that would have a negative impact on her business?To protect herself and the data that she gets, Wanda has to get a protective software that would block all data from going to the wrong people. She can also get a cybersecurity team that works with her.
3. How concerned are you about the security of your personal information?Yes I am. There is the fear of releasing sensitive information especially when it comes to paying through the use of payment cards online. I get security conscious and can only do this when the business is a reputable one and most of the time i take the delivery payment option.
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The fed's primary tool to change the money supply is?
Answers
The Federal Reserve's primary tool to change the money supply is open market operations, which involve buying and selling government securities to inject or withdraw money from the banking system, thereby influencing the overall money supply.
The Federal Reserve's primary tool to change the money supply is open market operations. Open market operations involve the buying and selling of government securities, such as Treasury bonds, in the open market.
1. The Federal Reserve decides to increase or decrease the money supply.
2. If the Fed wants to increase the money supply, it buys government securities from banks and other financial institutions in the open market.
3. By purchasing these securities, the Fed injects money into the banking system, increasing the reserves held by banks.
4. The increased reserves enable banks to lend more money to businesses and individuals, thereby expanding the money supply.
5. Conversely, if the Fed wants to decrease the money supply, it sells government securities to banks and other financial institutions.
6. Selling securities reduces the reserves of banks, limiting their ability to lend and contracting the money supply.
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What is the primary moral argument of critics of a regressive tax system?.
Answers
Answer: large income inequalities are bad for a democratic society
Explanation:
The primary moral argument of critics of a regressive tax system is that the large income inequalities are bad for a democratic society.
What is regressive tax?
A regressive tax is one that lowers the average tax burden as income rises. Low-income taxpayers have a disproportionately large percentage of the tax burden, whereas middle- and high-income taxpayers bear a disproportionately small cost.
The fundamental moral argument used by opponents of a regressive tax system is that significant economic disparities are harmful to democracy.
Therefore, the primary moral argument is the income inequalities.
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If there is a permanent increase in a factor of production than the short run aggregate supply curve shifts:____.
Answers
If there is a permanent increase in a factor of production then the short run aggregate supply curve shifts leftwards.
Given that the factor of production increases in the economy.
We are required to find the effect of increase in factor of production on aggregate supply curve.
Aggregate supply is the aggregate of the units supplied in the market by all the producers in the economy.
Factor of production includes all the labour, land ,capital.
When there is a permanent increase in a factor of production then the aggregate supply of the market decreases because the factor of production act as a cost of production which implies that the supply curve shifts leftwards from S1 to S2.
Hence if there is a permanent increase in a factor of production then the short run aggregate supply curve shifts leftwards.
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The MOST frequent reason that some corporations send their manufacturing operations outside of the United States is to find highly skilled workers who ________.
speak more languages than their U.S. counterparts
commute for longer distances than their U.S. counterparts
take fewer days off than their U.S. counterparts
have a better work ethic than their U.S. counterparts
require lower wages than their U.S. counterparts
Answers
The most frequent reason that some corporations send their manufacturing operations outside of the United States is to find workers who require lower wages than their U.S. counterparts.
One of the primary motivations for corporations to relocate their manufacturing operations outside of the United States is often the desire to reduce labor costs. By shifting production to countries with lower wage levels, corporations can take advantage of the cost savings and improve their profitability. This cost advantage is particularly significant when it comes to labor-intensive industries.
While factors such as language skills, commuting distance, days off, and work ethic may also play a role in certain cases, the driving force behind outsourcing manufacturing operations is typically the availability of a cheaper labor force. Lower wages in foreign countries can lead to substantial cost savings for corporations, allowing them to remain competitive in the global market. Therefore, the most frequent reason that some corporations send their manufacturing operations outside of the United States is to find workers who require lower wages than their U.S. counterparts. This cost-driven decision helps companies maintain their competitiveness and improve their financial performance.
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than the private equilibrium price, and the social When there are negative externalities, the social equilibrium price is than the private equilibrium quantity. [8.1.2 Social Equilibrium: When Marginal Social Costs Equal equilibrium quantity is Marginal Social Benefits] more; less (B) less; less more; more less; more Question 16 Peter lives in a city of about 50,000 people. Many negative externalities affect him. Which of the following is NOT an example of a negative externality? [8.1.1 Externalities] a person using deodorant a factory dumping chemical pollutants into the river enduring the sound of music you can't stand from a venue down the road a person smoking a cigarette
Answers
The answer to the question "than the private equilibrium price, and the social equilibrium quantity is (B) less; less" is: less; less.
When there are negative externalities, the social equilibrium price is lower than the private equilibrium price, and the social equilibrium quantity is also lower than the private equilibrium quantity.
Negative externalities refer to the costs imposed on society that are not accounted for by the market participants. These costs are external to the transaction and affect individuals or the environment without compensation.
In the case of negative externalities, such as pollution from a factory or enduring unpleasant noise from a nearby venue, the private equilibrium price and quantity do not fully reflect the social costs imposed on society. The market fails to consider these costs, leading to an inefficient allocation of resources.
The social equilibrium price is lower than the private equilibrium price because it accounts for the external costs. By reducing the price, the aim is to discourage excessive consumption and incentivize individuals and firms to internalize the negative effects they impose on society.
Similarly, the social equilibrium quantity is lower than the private equilibrium quantity. This reduction in quantity helps mitigate the negative externalities by limiting the overall level of activity that generates the external costs.
It promotes a more socially optimal allocation of resources and a reduction in the negative impacts on individuals and the environment.
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What does the big Mac index show
Answers
if taxable bond funds or individual bonds are held in a tax-free account such as a roth ira, then the income from them would be free from federal taxes, provided certain requirements are met.
Answers
Bonds & bond funds have varying tax treatment because of how they treat your principle and distribute income.
What are Tax implications of bonds and bond funds?Taxable bond fund income is typically taxed at ordinary income tax rates at the federal and state levels in the year it is generated. State taxes may not apply to funds that only hold US Treasury bonds. The interest costs you earn if you buy a bond issued by your own state are often free from state income taxes.
However, you would normally need to pay state income tax if you receive interest on bonds issued outside of you home state. In general, interest on corporate bonds is always subject to taxation. The majority of interest income from municipal bonds is tax-free under federal law.
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