Make the General Journal entry for the January entry

Assignment Help Accounting Basics
Reference no: EM132545618

Question - On January 2, 2016, Alpha Corporation procured new equipment with an issue of 5,000 shares of $4.00 par value common stock. The equipment had an MSRP of $65,000. Alpha's stock was trading on the open market for $9.75 per share on January 2nd. Use this information to make the General Journal entry (without explanation) for the January 2 entry.

Reference no: EM132545618

Questions Cloud

Why it is important to follow anti-discrimination law : Give five (5) reasons why it is important to follow anti-discrimination law and provide equal opportunity, giving a short explanation of each.
Construct a perspective from the video : LANGUAGE BARRIERS AND INTERPERSONAL COMMUNICATION - Analyze what you have learned from this video in relationship to what you have learned from the textbook
Find what is the future value of investment cash flows : Find what is the future value of his investment cash flows at the end of three years? If he can earn 7.5 percent on any investment that he makes.
Study of organisational behaviour : How does a course in Organisational Behaviour differ from courses such as Accounting and Finance?
Make the General Journal entry for the January entry : Alpha's stock was trading on the open market for $9.75 per share on January 2nd. Make the General Journal entry for the January entry
Compute the income reported by Regal : During 2015, Air reported net income of $75,000 and paid dividends of $30,000. Compute the income reported by Regal during 2015
Evaluate the attractiveness of an industry : Porter's Five forces helps with all of the following objectives except:
Calculate the weighting of equity in the company : Calculate the The weighting of equity in the company's capital structure (E%) components of Weighted Average Cost of Capital
Leadership approach to organizational behavior : Using the material from the textbook, define and discuss a values-based leadership approach to organizational behavior.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe potential journal entries

Given your knowledge of Walmart's key success and risk factors, use the note information described above to evaluate Walmart's accounting quality

  Demand for labor

Answer the following questions using examples and applications from the readings.  Justify your answers using economic concepts and ideas as they apply. Each response should be between 100-200 words.

  If fixed costs are 700000 and the unit contribution margin

if fixed costs are 750000 and variable costs are 80 of sales what is the break-even point in sales dollars?a. 937500b.

  The president of pratt company is puzzled.

The president of Pratt Company is puzzled. During the last year, the company experienced a net loss of $800,000, yet its cash increased $300,000 during the same period of time. Explain to the president how this could occur.

  Determining firm cost of preferred stock

The preferred stock of Blue Sky Air pays an annual dividend of $7.25 a share and sells for $54 a share. The tax rate is 35 percent. What is the firm's cost of preferred stock?

  What was the amount of the projected benefit obligation

The projected benefit obligation was $80 million at the beginning of the year. What was the amount of the projected benefit obligation at year-end

  Prepare the journal entry for February

Hamm contributed property with a fair value of $50,000. Prepare the journal entry for February 1, 2014 for the partners' equity investment

  Total paid-in capital amount

Adler Corporation has 50,000 shares of $10 par common stock authorized. The following transactions took place during 2008, the first year of the corporation's existence:

  Management is concerned about profitability of steaks

Recast the preceding income statements in a format that provides more information in making this decision regarding the steaks product line.

  Calculate the amount of depreciation to report

Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased

  Materials are added at the beginning of the process what is

corsi company had the following department

  Determine the required lease payment

Determine the required lease payment if the lease agreement calls for 10 equal semiannual payments begin- ning six months from the date of the agreement

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd