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
This transaction's journal entry will be as follows:
Cash A/c....Dr. $14,40,000
Common Stock A/c....Cr. $9,60,000
Paid in capital in excess of par-common stock $4,80,000
In a company's accounting books, a journal entry serves as a record of its financial transactions. A properly recorded journal entry includes an exact date, the debit and credit amounts, the transaction's description, and a unique reference number.
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
Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting.
a. Reports are usually prepared quarterly and annually.
b. Information is verified by external auditors.
c. Focus is on the past.
d. Main characteristic of information is that it must be relevant.
e. Reports tend to be prepared for the parts of the organization rather than the whole organization.
f. Primary users are internal (i.e., company managers).
g. It is governed by Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS).
h. The primary characteristics of information are that it must be reliable and objective.
i. Reports are prepared as needed.
j. It is not governed by legal requirements.
k. Primary users are external (i.e., creditors, investors).
l. Focus is on the future.
m. Reporting is based mainly on the company as a whole.
Answers
The information given is differentiated into either managerial accounting or financial accounting below:
Main characteristic of data is that it must be reliable and objective = Financial accounting.Not governed by legal requirements = Managerial accountingPrimary users are external (i.e creditors, investors) = Financial accountingFocused on the future = Managerial accountingReporting is based mainly on the company as a whole= Financial accountingReports are usually prepared quarterly and annually= Financial accountingInformation is verified by external auditors = Financial accountingFocused on the past = Financial accountingWhat is managerial accounting?Managerial accounting is a method of accounting that creates statements, reports, and documents that help management in making better decisions.
Financial accounting is concerned with the summary, analysis and reporting of financial transactions related to a business.
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What role do career pathways play?
A. Career pathways lay out the academic courses, skills, and knowledge required for a position.
B. Career pathways help students determine whether a position will have information technology as a primary or secondary focus.
C. Career pathways lay out the advantages and disadvantages of potential careers.
D. Career pathways organize jobs into 16 major groups to help students plan their careers.
Answers
Answer:
I think it's A. but don't depend on me i'm probley wrong
Explanation:
What part do career paths play is The educational requirements, necessary skills, and expertise for a position are outlined in career pathways. As a result, choice (A) is right.
What is meant by Career pathways ?A career path is a list of steps you should take to advance into new or more senior responsibilities at work during your professional life. Employees are guided toward their ultimate professional ambitions as well as their long-term goals through a series of positions and experiences.
By highlighting their existing professional situation and providing advice on how to improve it, career pathing can increase their levels of engagement and job satisfaction.
An essay about your career objectives is a piece of writing in which you describe the career route you hope to take and the goals you have for yourself. You will discuss your career aims, pertinent accomplishments that help you be more successful in achieving your goals, and how your aspirations can help you advance even farther in the essay.
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Kari needs to change the brightness and contrast on an image she has inserted into a word document. Which group should she use to do this?
Answers
If you had invested $100 in 1972 in the all the stocks of the s&p500 index, how much would you have had in 2018
Answers
If you had invested $100 in 1972 in the all the stocks of the S&P500 Index, money you have now is $1,612.
Enterprises issue stock to raise assets to work their organizations and the holder of stock, an investor, may have a case to part of the organization's resources and profit.
An investor is viewed as a proprietor of the, not entirely settled by the quantity of offers a financial backer possesses comparative with the quantity of exceptional offers. If a company has 1,000 shares of stock outstanding and only one person owns 100 of them, that person would own 10% of the company's assets and earnings and have a claim to them.
Stockholders do not own a corporation, but the law considers corporations to be a distinct type of organization because they are considered legal entities. Enterprises record charges. can acquire, can claim property, and can be sued. A corporation's ownership of its assets is implied by the notion that it is a "person." The corporation owns the chairs and tables in the corporate office, not the shareholders.
Corporate property is legitimately isolated from the property of investors, which restricts the risk of both the company and the investor. A shareholder's assets are unaffected, but the corporation's assets may be sold by a judge if it declares bankruptcy. Even though the value of your shares may have decreased, the court cannot compel you to sell them. Similarly, major shareholders cannot pay their creditors by selling the company's assets if they file for bankruptcy.
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Using a production possibilities curve, a technological advance that increases the amount of output for the same amount of inputs would be illustrated as.
Answers
A technological advancement that increases the quantity of output for the same number of inputs would be represented as an outward shift of the curve using a production possibilities curve.
The production possibility curve, what is it?The graph known as the production possibilities curve (PPC) illustrates all the possible output combinations that can be created using the available resources and technology. The PPC, sometimes referred to as the production possibilities frontier (PPF), depicts scarcity and tradeoffs.
What is illustrated by the production possibility curve?The Production Possibilities Curve (PPC) is a model used to show the tradeoffs associated with allocating resources between the manufacturing of two goods
The PPC can be used to illustrate the ideas of scarcity, probability cost, efficiency, inefficiency, monetary growth, and contractions.
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Economics - What’s an example where the market approach would not be appropriate? Why?
Answers
try defining what a market approach is: a method of determining the value of a product based on the selling price of similar products.
you can then proceed to think of a specific product or brand which is extremely overpriced (meaning sales volume will be low) or underpriced (meaning profit is not as much as it could be).
a simple example of this could be misjudging the value of real estate, and selling houses, land and other infrastructure for either much more or much less than you should
Steven manages a team responsible for opening new restaurants of a large, fast-food chain. His team goal is to open eight restaurants in four months' time, and he's mapped out a plan for breaking this goal into actual tasks and projects. As Steven's mentor, what advice do you give him for managing obstacles that might disrupt his progress?
Answers
Answer:
divide all of the current obstacles by the level of urgency and take it one step at a time
Explanation:
When making any sort of plans there will always be unexpected obstacles that prevent/disrupt you from making progress. In these situations, the best advice would be to divide all of the current obstacles by the level of urgency and take it one step at a time. If you try to solve all the problems at once you will get overwhelmed and stressed out. Instead solve one at a time, focusing on the more urgent problems first.
If a person wants to work from home in the Business, Management and Administrative careers, what is required?
a cubicle to keep the person on task
a private office to protect confidential information
proper technology to keep the person connected
proper travel arrangements to meet with customers
Answers
Answer:
C. proper technology to keep the person connected
Explanation:
Answer:
C
Explanation:
Edge 2021
influences of Business environment,
Answers
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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3
Drag the tiles to the boxes to form correct pairs.
Select the type of economic system that best matches each of the given descriptions.
traditional
market
command
mixed
based on government control
of resources and production
based on traditions and customs
based on the forces of supply and demand
based on price rationing and includes
some government involvement
Answers
The economic systems based on the desc riptions are:
based on government control of resources and production: commandbased on traditions and customs: traditionalbased on the forces of supply and demand: marketbased on price rationing and includes some government involvement: mixedWhat are economic systemsMarket systems also known as market economies are economic systems in which the production and distribution of goods and services is determined by the interaction of buyers and sellers in a free market in a market system individuals and businesses are free to produce and sell goods and services and consumers are free to purchase these goods and services
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terin, the chief human resources officer for a major financial services company, has met with each of her employees to set their objectives. now, terin expects the employees to:
Answers
Given that Terin's employees have set their objectives in the company, the next thing that Terin expects from these employees would be to develop action plans.
Option D is the correct answer to this question. The action plans are sets of strategies that the employees have laid out that would help them to achieve their goals and objectives.
In order to do this, they have to make up lists of the things that they want to achieve in the firm and also list the strategies that they would employee to achieve them.
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Jean-Baptiste Say thought that entrepreneurs should be considered a fourth factor of production. Do you agree or not? Explain your reasoning.
Answers
Answer: i do agree
Explanation: they are a factor because they help the economy in the same ways as the other factors of production
Jean-Baptiste Say thought that entrepreneurs should be considered a fourth factor of production. The given statement is true. Because of the economy in the same ways as the other factors of production.
What is the economy?An economy is a collection of interconnected production and consumption processes that ultimately decide how resources are distributed within a community. The demands of persons who live there and conduct business there are met by the production and consumption of goods and services as a whole.
The traditional economy, which uses a country's traditions and history to direct the production and distribution of goods, is a well-known illustration of an economy. The main pillars of traditional economies are agriculture, fishing, and hunting.
Entrepreneurs should be considered a fourth factor of production labor, capital, natural resources, and entrepreneur.
Therefore, By the given statement(Jean-Baptiste Say thought that entrepreneurs should be considered a fourth factor of production) was true.
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CalebCorp expects to pay the following dividends on its stock: $3.00 in year 1, $3.50 in year 2, zero dividends in year 3, and $4.50 in year 4. The company expects that dividends will grow at 6.5% annually thereafter. What will you pay for a share of CalebCorp stock if your required rate of return is 10%?
Answers
To find the price of a share of CalebCorp stock, we need to use the Dividend Discount Model (DDM). The DDM is a method used to value a company's stock based on the present value of its expected future dividends. The formula for the DDM is:
P0 = (D1 / (1 + r)^1) + (D2 / (1 + r)^2) + (D3 / (1 + r)^3) + ... + (Dn / (1 + r)^n)
Where:
P0 = the current stock price
D1, D2, D3, ... Dn = the expected dividends for each year
r = the required rate of return
Using the information provided in the question, we can plug in the values for the expected dividends and the required rate of return into the formula:
P0 = ($3.00 / (1 + 0.10)^1) + ($3.50 / (1 + 0.10)^2) + ($0.00 / (1 + 0.10)^3) + ($4.50 / (1 + 0.10)^4) + (($4.50 * 1.065) / (0.10 - 0.065)) / (1 + 0.10)^4
P0 = $2.73 + $2.89 + $0.00 + $3.09 + $82.99
P0 = $91.70
Therefore, the price you will pay for a share of CalebCorp stock is $91.70.
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what are the function of Ware house?
Answers
Answer:
see below
Explanation:
Warehouses provide safe storage of goods in large quantities before they can be moved to other locations. Goods are stores in an orderly and systematic manner. Warehouses protect goods against adverse weather and reduce losses due to spoilage.
The major functions of a warehouse are
Storage of goodsSafe storage of goods is the primary function of a warehouse. Manufacturers use warehouse facilities to store finished goods before they can be distributed for consumption. Warehouses are also used by traders to keep goods as they wait for customers to buy.
Protecting goodsGoods in the warehouse are protected from harsh weather conditions such as heat, dust, moisture, and strong winds. Losses and damages to goods are minimal in a warehouse.
Grading and brandingSome warehouses perform value-added services such as branding and grading of products. They are done as per the manufacturers' specifications
ProcessingWarehouse perform processes like breaking bulk where goods are brought in large quantities and are repackaged and sold in smaller quantities.
A government spends money in order to:
A. influence which products will be available to U.S. consumers.
B. make sure government programs can function properly.
C. prevent foreign businesses from competing with U.S. companies.
D. decide what each employee at a U.S. company will be paid.
BMIT
Answers
Answer:
Options A and C is not related at all. I belive It's B.
The amount of surface area on an uncored block that has holes extending through it is equal to less than ________.
Answers
a method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances
Answers
A method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances is Cap and trade .
What does the term "cap and trade" mean?
A "cap" on maximum emissions is imposed under the cap-and-trade system, which reduces the total emissions from a number of emitters.
It is said to as a market-based approach that aims to lower total pollutant emissions and promote corporate investment in fossil fuel substitutes and energy efficiency.
What does "cap and trade system" mean?
A government regulation scheme known as "cap and trade" aims to reduce or "cap" the overall level of certain chemical pollutants, primarily carbon dioxide emissions, that arise from industrial activity.
The argument put up by cap and trade proponents is that it is a preferable option to a carbon tax.
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The last step of a cost analysis is to examine the P&L statement or expense reports.
Answers
The last step in the accounting cycle is to make remaining entries by finalizing expenses, revenues and brief accounts on the quit of the accounting period. This includes closing out temporary bills, along with expenses and sales, and moving the net earnings to permanent bills like retained profits.
Income and loss (P&L) declaration refers to a financial statement that summarizes the sales, fees, and fees incurred at some stage in a specified length, usually a quarter or fiscal year. these records offer records about a company’s capacity or inability to generate profit by increasing sales, lowering expenses, or each. P&L statements are often presented on a cash or accrual foundation. company managers and traders use P&L statements to analyze the economic health of a company. A profit and loss (P&L) statement summarizes the revenues, fees and fees incurred all through a selected time frame. A P&L statement offers information about whether or not a company can generate profit by increasing revenue, decreasing expenses, or each. The final step within the accounting cycle is to make closing entries with the aid of finalizing costs, sales and brief bills at the stop of the accounting length. This includes remaining out brief money owed, such as fees and revenue, and moving the net earnings to everlasting debts like retained earnings.
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Which is the main reason why IT professionals need to pursue continuing education and self-directed learning?
to obtain a formal degree
to develop a broad historical perspective
to meet legal training requirements
to maintain and improve professional skills
Answers
Answer:
B
Explanation:
Continuous professional development gives people the chance to improve their existing abilities and fill in any knowledge gaps, giving them an advantage in situations where they might need it, like a job interview.
Thus, Option D is correct.
What does professional development serve as?To support individual, school-wide, and district-wide improvements for the objective of raising student achievement, professional development aims to enhance knowledge and abilities. Federal and state mandates place a constant increase in demands on educators.
The rules and expectations for all public schools across the nation have drastically changed as a result of the federal No Child Left Behind legislation. One of the numerous modifications is the requirement that all professional development be directed on raising student accomplishment.
Therefore, professional development typically entails teachers expanding their knowledge of instructional strategies or extending their comprehension of academic content.
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outline 2 advantages to H&H of using secondary market research
Answers
Explanation:
It provides quick information and factual background perspectives
It is less expensive and affordable
The _____ reports the financial position of a firm by identifying and reporting the value of the firm's assets, liabilities, and owners' equity.
Answers
Answer:
balance sheet
Explanation:
To become effective managers of diverse organizations, managers first have to identify and overcome a number of challenges, including ___ (Select all that apply.)
a. communication problems
b. a low level cohesiveness
c. unexamined assumptions
d. hiring freezes
e. stereotyping
Answers
To become effective managers of diverse organizations, managers first have to identify and overcome a number of challenges, including communication problems, unexamined assumptions, and stereotyping. So, the correct options are a, c, and e.
To become an effective manager of diverse organizations, a manager must first identify and overcome a number of challenges. They include the following:
Communication problemsUnexamined assumptionsStereotypingThe obstacles that are faced by managers when it comes to dealing with a diverse workforce are different from the obstacles that are faced when working with a homogenous group of people. The manager must have the skills and ability to identify and overcome these obstacles.
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A person performs a cost-benefit analysis in order to:
A. calculate the expenses of multiple businesses competing in the
same market.
B. evaluate the possible positive and negative effects of different
economic decisions.
C. analyze economic data to reach general conclusions about a
country's economy.
D. determine the tax rates a business will pay depending on its
profits in a year.
o
Answers
Answer:
B. evaluate the possible positive and negative effects of different economic decisions.
Explanation:
Cost-benefit analysis (CBA) is used to examine and compare the cost associated with a project or task and the benefits derived from it.
Simply stated, cost-benefit analysis is a form of utilitarianism commonly used by individuals, business firms and government in the decision-making process, as all the cost incurred are determined and analyzed.
This ultimately implies that, it may be used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Cost-benefit analysis (CBA) sums the total cost associated with a project (activity) and compares this cost against the total benefits that would be generated. Thus, it helps in the decision-making process by comparing the net present value (NPV) of the cost of a particular project with the net present value (NPV) of its benefits.
Hence, a person performs a cost-benefit analysis in order to help him or her evaluate the possible positive and negative effects of different economic decisions with respect to an investment, project, activity, or programme.
where a contract does not stipulate an expiry date, it will remain open: select one: a. until a counter-offer is made. b. until expressly revoked by the offeror. c. forever, until accepted by the offeree. d. for a reasonable time, after which it will automatically expire.
Answers
The statement d is correct. If a contract does not specify an expiry date, it will typically remain open for a reasonable period of time, after which it will automatically expire.
This is because contracts are meant to be a binding agreement between parties, and if they are left open indefinitely, it can create uncertainty and confusion. However, the specific length of time that a contract will remain open will depend on the circumstances surrounding the agreement, as well as the nature of the contract itself. In some cases, an offer may be revoked by the offeror before it is accepted by the offeree, while in other cases, it may remain open until it is either accepted or rejected by the other party. Ultimately, the key is to ensure that the terms of the contract are clear and specific, so that both parties understand their respective obligations and can act accordingly.
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QUESTION 7 of 20: Your savings account pays 2.5% interest per year. How much interest does the account pay per month.
a) .02%
b) 04%
c) 21%
d) 43%
Answers
Answer:
a) .02%
Explanation:
One year has 12 months.
The interest rate per year = 2.5%
Interest earned per month will be
=2.5% / 12
=0.02%
Answer:
c 21%
Explanation:
i got it right
What is the typical relationship between a person's network size and the number of job leads they have?
a. The smaller the network, the more job leads available
b. The larger the network, the more job leads available
C. The larger the network, the fewer job leads available
d. None of the above
Please select the best answer from the choices provided
A
B
Оооо
С
Answers
Answer:
is it b?
Explanation:
Which of the following retirement vehicles provide income tax-advantages? (check all that apply)
A. 403(b)
B. Mutual Fund
C. 401(k)
D. Roth IRA
E. IRA
Answers
The 403(b) and 401(k) are the the retirement vehicles that provide income tax-advantages.
What is an income tax-advantages?These advantage means the item one can subtract from your taxable income to lower the amount of taxes you owe.
Hence, the 403(b) and 401(k) are the the retirement vehicles that provide income tax-advantages.
Therefore, the Option A, C is correct.
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what do you need to do to borrow crypto with compound?
Answers
Answer: First, you’ll need to deposit your collateral just like you would to earn interest. All loans on Compound are over collateralized. That means if you want to borrow WBTC for example, you’ll need to deposit a larger amount of another crypto asset such as ETH or DAI.
Explanation:
A buyer calls your office to inquire about a property he saw advertised. he sounds really excited about this property. where is it that he likely found out the property was for sale?
Answers
If a buyer calls your office to inquire about a property he saw advertised. he sounds really excited about this property. The place that he likely found out the property was for sale is: Internet.
What is advertisement?Advertisement can be defined as the process of creating product or brand awareness so as to generate sales or to increase profit.
Since most companies or organization tend to make use of the internet to advertise or to market their product which in turn means that the buyer saw the property advert on the internet.
Therefore the place that he likely found out the property was for sale is: Internet.
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Insurance can help with ???
Answers
Answer:
B. In an emergency
Explanation:
Insurance is purchased to protect things that you own