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Problem - Entries for issuing no-par stock
On July 12, Lasting Carpet Inc., a carpet wholesaler, issued for cash 300,000 shares of no-par common stock (with a stated value of $4) at $9, and on November 18, it issued for cash 40,000 shares of $90 par preferred stock at $100.
Required -
a. Journalize the entries for July 12 and November 18, assuming that the common stock is to be credited with the stated value.
b. What is the total amount invested (total paid-in capital) by all stockholders as of November 18?
Easton Company had average inventory for the year of $640,000 and an inventory turnover ratio of 10.1. Find the company's Days Outstanding in Inventory
assume theres no beginning work-in-process inventory and the ending work-in-process inventory is 70 complete with
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Issued 5,000 shares of $5 par common stock for cash at $15 per share. Determine the balance sheet amounts for common stock
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The following table lists the average costs for a family of four to watch a game at an National Football League (NFL) stadium compared to a Canadian Football League (CFL) stadium.
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