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Alexia Corporation was organized on January1, 2012. It is authorized to issue 10,000 shares of 8%, $100 par value preffered stock, and 500,000 shares of no par common stockwith a stated value of $2 per share. The following stock transactions were completed during the first year Jan. 10 Issued 80,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,000 shares of preffered stock for cash at $105 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $85,000. May. 1 Issued 80,000 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $30,000 for services provided in helping the company organize. Sept. 1 Issued 10,000 shares of common stock for cash at $5 per share. Nov 1 Issued 1,000 shares of preferred stock for cash at $109 per share. a. Journalize the transactions. b Post to stockholders' equity.
Springfield Express is considering offering a discounted fare of $ 120, which the company believes would increase the load factor to 80 percent. Only the additional seats would be sold at the discounted fare.
during periods when costs are rising and inventory quantities are stable cost of goods sold will bea. higher under fifo
Amounts paid on June 30 for a 1-year insurance policy, Professional fees earned but not billed as of June 30
Suppose that Noven had $49,000 in an inventory of transdermal estrogen delivery patches. These patches are from an initial production run, and will be sold during the coming year.
Year 1 production nil. year 2 production 6000.3rd year 24000 4th year 60000 5th year 45000 prepare shortworkings accounts in the books of company for five years.
If this expected level of production and sales occurs and plant expansion is not needed, how should this increase affect next year's total amounts for the following costs.
Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2011 ans 2012. kimberly-clark's corporate year end is december 31. Show all..
which of the following is reported as an operating activity in the statement of cash flows? the payment of
Up to three standard deviations above or below the centerline is the amount of variation that statistical process control allows for
Phoenix Corporation has a joint process that produces three products: X, Y, and Z. Each product may be sold at split-off or processed further and then sold. Joint- processing costs for a year amount to $100,000. Other relevant data are as follows:
On January 1, 2010, Robins Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle should be treated in the company's financial statements.
Prepare ingood form (proper heading, etc.) a statement of revenues,expenditures, and changes in fund balance for this fund for20X9.
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