Business, 03.12.2019 02:31 hamilclips1748

If smart company issues 1,000 shares of $5 par value common stock for $90,000, the account

a. cash will be debited for $95,000.
b. common stock will be credited for $90,000.
c. paid-in capital in excess of par value will be credited for $85,000.
d. paid-in capital in excess of par value will be credited for $5,000.

wave corporation began the current year with a retained earnings balance of $25,000. during the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $5,000 on equipment. also, during the current year the company earned net income of $15,000 and declared cash dividends of $5,000. compute the year-end retained earnings balance.

a. $40,000.
b. $30,000.
c. $39,000.
d. $35,000.

which of the following statements is not true about a 4-for-1 split?

a. a stockholder with ten shares before the split owns forty shares after the split.
b. par value per share is reduced to one-fourth of what it was before the split.
c. the market price will probably decrease.
d. total contributed capital increases.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 22:50

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800

Answers: 1

Answer

Business, 22.06.2019 10:40

Two assets have the following expected returns and standard deviations when the risk-free rate is 5%: asset a e(ra) = 18.5% σa = 20% asset b e(rb) = 15% σb = 27% an investor with a risk aversion of a = 3 would find that on a risk-return basis. a. only asset a is acceptable b. only asset b is acceptable c. neither asset a nor asset b is acceptable d. both asset a and asset b are acceptable

Answers: 2

Answer

Business, 22.06.2019 12:20

Over the past decade, brands that were once available only to the wealthy have created more affordable product extensions, giving a far broader range of consumers a taste of the good life. jaguar, for instance, launched its x-type sedan, which starts at $30,000 and is meant for the "almost rich" consumer who aspires to live in luxury. by marketing to people who desire a luxurious lifestyle, jaguar is using:

Answers: 3

Answer

Business, 22.06.2019 21:20

Rediger inc., a manufacturing corporation, has provided the following data for the month of june. the balance in the work in process inventory account was $28,000 at the beginning of the month and $20,000 at the end of the month. during the month, the corporation incurred direct materials cost of $56,200 and direct labor cost of $29,800. the actual manufacturing overhead cost incurred was $53,600. the manufacturing overhead cost applied to work in process was $52,200. the cost of goods manufactured for june was:

Answers: 2

Answer

You know the right answer?

If smart company issues 1,000 shares of $5 par value common stock for $90,000, the account

Questions