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Alexia Corporation was organized on January 1, 2012. It is authorized to issue 14,510 shares of 8%, $100 par value preferred stock, and 459,900 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 83,490 shares of common stock for cash at $4 per share. Mar. 1 Issued 4,360 shares of preferred stock for cash at $104 per share. Apr. 1 Issued 23,380 shares of common stock for land. The asking price of the land was $88,290. The fair market value of the land was $87,070. May 1 Issued 80,170 shares of common stock for cash at $7.20 per share. Aug. 1 Issued 11,840 shares of common stock to attorneys in payment of their bill of $40,300 for services provided in helping the company organize. Sept. 1 Issued 11,340 shares of common stock for cash at $9 per share. Nov. 1 Issued 2,630 shares of preferred stock for cash at $112 per share. Journalize the transactions. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2. If amounts are the same, list alphabetically.) Post to the stockholders' equity accounts. (Use J5 as the posting reference.) (If answer is zero, please enter 0. Do not leave any fields blank.) Prepare the paid-in capital section of stockholders' equity at December 31, 2012.
Foreman Company issued $600,000 of 10% 20-year bonds on January 1, 20X0. interest payable semiannually on July 1 and January 1. Foreman Company uses the straight-line method of amortization for bond permium or discount.
what is cvp analysis? why is this an important analysis for a company to perform?what is the financial budget? describe
barn company uses a process costing system. during august the mixing department transferred out 65000 units. the august
1.a retail building used in the trucking business of a sole proprietor is sold on february 10 2010 for 300000. it had
alden company has decided to use a contribution format income statement for internal planning purposes. the company has
why is cvp analysis generally used as a short-run tool? would cvp ever be appropriate as a long-run model? explain why
If income tax expense for the current year was $46,000 and income tax payable decreased by $5,200 during the year, what was the amount of cash payments for income tax?
jackson has the choice to invest in city of mitchell bonds or sundial inc. corporate bonds that pay 10 interest.
What is the impact on total shareholders' equity
jackson inc. is a management consulting firm that specializes in management training programs. max manufacturing inc.
Generally accepted accounting principles (GAAP) require loss contingencies to be accrued in the period the contingency becomes known. However, GAAP specifically disallows booking gain contingencies until the gain is realized.
1.team shirts inc. had net cash from operating activities of 50000. it paid 40000 to buy a new computer system by
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