How do I solve subsections D and E?
Q: What are the steps in solving problems involving partitive proportions?
A: In partitive proportion, at first it is to be understood that there is a relationship between the…
Q: What is Reg D?
A: Regulation D (Reg D): It may be a Securities and Exchange Commission (SEC) law confining exceptions…
Q: Along what two dimensions can we classifytrading procedures?
A: Trading procedures: It is the methods and available venues from where trading (Buying and selling of…
Q: What form is required?Explain why this is the correct form?
A: Taxation states the financial charge or obligation which is imposed through the government or…
Q: What are the answers to Required 1 and 2?
A: A "fixed cost" is a cost that does not change as the quantity of goods or services produced or sold…
Q: What is the IPSASB and reason(s) it was established?
A: IPSASB : INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD (IPSASB). It plays a significant…
Q: Can you explain why D is the correct answer?
A: Trial balance: A financial statement which integrates all the balance of ledger accounts is termed…
Q: How to solve (d) - (e)?
A: Cost Activity Rate Labor related costs 270,000 27,000 10…
Q: Explain the relationship between MRP II and ERP.
A: Material Resource Planning II: An automated system which controls planning of inventory or raw…
Q: What is an estoppel? Why is it used?
A: Estoppel is the legal principle which is helpful for any future contradiction. It means that…
Q: purpose of FA
A: FASB stands for Financial Accounting Standards Board. It is a non-profit organization that follows…
Q: What’s the AMT, and what is its purpose?
A: The main purpose of AMT is to set a limitation on the tax payers who may be making use of the excess…
Q: What are the two inputs required in the preparation of the pro forma statements?
A: Pro forma financial statements are reports that are formed based on hypothetical situations in the…
Q: Here are the questions:
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: ow to do question ii?
A: Given information : Initial balance 5000 Service charge 100 Interest rate 10% Time period…
Q: What are the answers
A: The answer is as fallows
Q: Can you explain each point in detail, if possible?
A: Lets understand the basics. Cash management is must requirement for banks in todays world. This is…
Q: What are roll-forward procedures? Provide some examples
A: Roll-Forward Procedure: Auditors perform procedure to draw out the conclusion from an interim date…
Q: What is a Compilation?
A: Financial statements: Financial statements are condensed summary of transactions communicated in the…
Q: Define Hedging.
A: Hedging is the transfer of risk from a risky financial instrument to another instrument by buying or…
Q: Match the terms with the definitions.
A: Introduction: Accounting: Accounting is an art of recording , classifying , summarising and…
Q: [The following information applies to the questions displayed below.]
A: Income is recorded as income when it is earned or accrued, accrual method of accounting this concept…
Q: What is EBITDA?
A: EBITDA is a metric which is used to measure the company's profitability. Though there is no legal…
Q: which is correct from these attached?
A: A cash flow statement is the one prepared as a part of financial statements under which the cash…
Q: Discus the elements of GAAS, how does it relate to GAAP?
A: GAAS(Generally Accepted Auditing Standards) :- provides standards by which the prepared financial…
Q: What is full form of CIP? Explain about it.
A: Carriage and Insurance Paid to is the full form of CIP
Q: What is cpj
A: Financial accounting involves the work of recording and posting of financial transactions into the…
Q: Pls explain in detail
A: A pharmaceutical company is a company which produces or manufactures medicines which are in form of…
Q: Answer the following.
A: Accrued income represents that income which has been earned but not received during the current…
Q: EXPLAIN THE RESULT OF EACH ITEMS
A: Balance sheet is the statement of assets, liabilities and equity which means the value of the these…
Q: part h is to be solved sir
A: Step 1 Journal is the part of book keeping.
Q: Where is the reconciliation of Beginning PBO to ending PBO found in the codification (give topic,…
A: Here discuss about the accounting codification related with the accounting standard for the…
Q: What Is Section 1031? A brief explanation on this?
A: Answer : Section 1031 Provision of Internal Revenue Code Allows the Owners of Investment Property…
Q: What does the IAS 2 explains?
A: The answer is provided as follows:
Q: a) Define the term contra entries?
A: Hi student Since there are multiple questions, we will answer only first question.
Q: What's the working for the first section $49,900?
A: A pension plan is usually an agreement between the employer and employee wherein, the employer…
Q: 2. Match each of the following terms with the appropriate definition.
A: Answer: 1. Discounting The process of restating future cash flows in terms of present time value.…
Q: whats the answer in question 1?
A: Here asked for multi sub part question we will solve first three sub part question for you. If you…
Q: What is covered by Regulation S–K?
A: Securities and Exchange Commission (SEC): The board which set rules for the companies for…
Q: what is the summary of this topic?
A: Here ask about the summary of the product which is the important aspect of the packing for the…
Q: Need complete solution of part (a),(b) and (d)
A: Given information : Basic cost = $180,000 Additional costing = $20,000 Cost basis for depreciation =…
How do I solve subsections D and E?
Step by step
Solved in 2 steps
- Wingra Corporation was organized in March. It is authorized to issue 500,000 shares of $100 par value 8% preferred stock. It is also authorized to issue 750,000 shares of $1 par value common stock. In its first year, the corporation has the following transactions: Journalize the transactions.Autumn Corporation was organized in August. It is authorized to issue 100,000 shares of $100 par value 7% preferred stock. It is also authorized to issue 500,000 shares of $5 par value common stock. During the year, the corporation had the following transactions: Journalize the transactions.EllaJane Corporation was organized several years ago and was authorized to issue 4,000,000 shares of $50 par value 6% preferred stock. It is also authorized to issue 1,750,000 shares of $1 par value common stock. In its fifth year, the corporation has the following transactions: Journalize the transactions.
- Upon submitting its corporate charter to the state, Lazer was granted permission to issue 6,000 shares of $0.30 par value common stock. Net income for the year for Lazer was $98,400. In addition, the following transactions took place during the year: January 2: March 12: Investors paid Lazer $7 each for 2,520 shares of common stock Lazer purchases 600 shares of its own common stock for $6.50 per share October 31: Lazer declared a 2-for-1 forward stock split As of December 31, how many shares are issued, and how many shares are outstanding? Select one: О a. Issued, 4,080; Outstanding, 2,520 O b. Issued, 4,080; Outstanding, 5,040 O c. Issued, 5,040; Outstanding, 1,920 о d. Issued, 5,040; Outstanding, 3,840A corporation was organized on January 1 of the current year, with an authorization of 10,000 shares of $4 preferred stock, $10 par, and 50,000 shares of $10 par common stock. The following selected transactions were completed during the first year of operations: Jan. 1 Issued 5,000 shares of Preferred stock at $20 per share for cash. 15 Issued 200 shares of common stock at par to an attorney in payment of legal fees. The value of the stock was at the time of payment was $25 per share. Feb. 1 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $60,000, $20,000, and $40,000 respectively. Mar. 1 Issued 2,000 shares of common stock at $16 for cash.A corporation was organized on January 1 of the current year, with an authorization of 20,000 shares of 4%, $12 par preferred stock, and 100,000 shares of $3 par common stock.The following selected transactions were completed during the first year of operations: Jan. 3 Issued 15,000 shares of common stock at $23 per share for cash. 31 Issued 200 shares of common stock to an attorney in payment of legal fees for organizing the corporation. The value of the stock at the time of payment was $25 per share. Feb. 24 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $65,000, $120,000, and $45,000 respectively. Mar. 15 Issued 2,000 shares of preferred stock at $56 for cash. Journalize the transactions.
- Use the following information to answer questions 30 and 31. When Calvert Corporation was formed on January 1, 2010, the corporate charter provided for 50,000 shares of $20 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1. The corporation issued 200 shares of stock to its lawyer in full payment of the $5,000 bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2. The company issued 8,000 shares of stock at a price of $25 per share. 3. The company issued 7,000 shares of stock in exchange for equipment that had a fair market value of $160,000. 30 The entry to record transaction 2 is A) Cash $ Common Stock B) Cash Common Stock Additional Paid-in Capital C) C) Cash Common Stock D) Cash Common Stock E) None of the above above 31 The entry to record transaction 3 is: A) Equipment Common Stock B) Common Stock Equipment C) Equipment…A corporation was organized on January 1 of the current year with an authorization of 20,000 shares of 4%, $12 par preferred stock and 100,000 shares of $3 par common stock. The following selected transactions were completed during the first year of operations: Jan. 3 Issued 15,000 shares of common stock at $23 per share for cash. 31 Issued 200 shares of common stock to an attorney in payment of legal fees for organizing the corporation. The value of the stock at the time of payment was $25 per share. Feb. 24 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $65,000, $120,000, and $45,000, respectively. Mar. 15 Issued 2,000 shares of preferred stock at $56 for cash. Required: Journalize the above transactions. If an amount box does not require an entry, leave it blank. Jan. 3 fill in the blank 2 fill in the blank 3 fill in the blank 5 fill in the blank 6 fill in the blank 8 fill in…On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 26,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31. Jul. 1 Sell $13,000 of common stock to Suzie. Jul. 1 Sell $13,000 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $5,640 ($470 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,900 associated with incorporation. Jul. 4 Purchase office supplies of $1,800 on account. Jul. 7 Pay for advertising of $350 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $40 on the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $10,100 cash.…
- Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 250 shares to its attorneys in payment of a $4,500 charge for drawing up the articles of incorporation. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capital in Excess of Par Value, Common Stock for $4,500. A debit to Organization Expenses for $2,500. A debit to Organization Expenses for $4,500. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000. A credit to Common Stock for $4,500.On July 1, 2021, Tony and Suzie organize their new company as a corporation, Great Adventures Inc. The articles of incorporation state that the corporation will sell 37,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as co-presidents of the company. The following transactions occur from July 1 through December 31. Jul. 1 Sell $18,500 of common stock to Suzie. Jul. 1 Sell $18,500 of common stock to Tony. Jul. 1 Purchase a one-year insurance policy for $4,920 ($410 per month) to cover injuries to participants during outdoor clinics. Jul. 2 Pay legal fees of $1,900 associated with incorporation. Jul. 4 Purchase office supplies of $1,700 on account. Jul. 7 Pay for advertising of $280 to a local newspaper for an upcoming mountain biking clinic to be held on July 15. Attendees will be charged $50 on the day of the clinic. Jul. 8 Purchase 10 mountain bikes, paying $19,500 cash.…Halpern Corporation is authorized to issue 1,000,000 shares of $3 par value common stock. During 2021, its first year of operation, the company has the following stock transactions. Jan. 1. Paid the state $5,000 for incorporation fees Jan. 15 Issued 500,000 shares of stock at $6 per share. Jan. 30 Attorneys for the company accepted 500 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $7,000. July 2. Issued 100,000 shares of stock for land. The land had an asking price of $900,000. The stock is currently selling on a national exchange at $8 per share. Sept. 5 Purchased 15,000 shares of common stock for the treasury at $8 per share. Dec. 6. Sold 11,000 shares of the treasury stock at $11 per share. Journalize the transactions for Halpern Corporation. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount…