A corporation issued 180 shares of ts $5 par value common stock an payment of a $2600 charge fom es accountant for assistance in fing its chater with the state The entry to tecnedthis transaction will includeMultole ChoiceO AS2600 cedt to Comoe StockAS200 debit to Lroa ExpensesAS00 creotto Pidn Ceptal n Ecess f r Vae Conmon StooA S2600 orat to Cnh.AS00 ortit to Oroannon Erpenses

Introduction:- Issue of shares 180 Par value per share $5 Total par value of shares = 180 x $5=$900…

A corporation ssued NO shares of ns $5 par value common stock an payment of o $2.600 charge trom es acountant for sstance n fing s charter win the state The enty to this transaction will include Mutiole Choice O AS00 cedt to Coto Stock AS200 debt to Leoa Expenses A SUO rotto n Ct s o e v. Comon AS2.600 odr to C

A corporation ssued NO shares of ns $5 par value common stock an payment of o $2.600 charge trom es acountant for sstance n fing s charter win the state The enty to this transaction will include Mutiole Choice O AS00 cedt to Coto Stock AS200 debt to Leoa Expenses A SUO rotto n Ct s o e v. Comon AS2.600 odr to C

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Accounting for Equity Securities-Noninfluential The Glass Company had the following transactions and…

A: The journal entry was used by commercial organizations to keep track of their financial transactions…

Q: am. 102.

A: The objective of the question is to understand how the issuance of common stock affects the…

Q: Case 3-26 (Static) Analysis of liquidity and profitability measures of Apple Incorporated LO 3-3,…

A: Financial ratios are those ratios which measure or compare the line items of the financial…

Q: APTER 5: SPECIAL TOPICS ON 15. On January 2, 2020 Small Company issued 5 shares in exchangee each…

A: Goodwill - When ownership of a company is transferred as a continuing concern, goodwill is a type of…

Q: Sarasota Corporation, a public company, has the following investments at November 30, 2024: 1. 2. 3.…

A: Investments held by a company are mainly classified into three categories :1. Held-to-Maturity2.…

Q: Please do not give solution in image format thanku

A: Average Total Asset = (Beginning total asset + Ending total asset)/2…

Q: Second National Insurance Company provided this Information for its minority-passive equity…

A: 1.DateParticularsDebitCreditDecember 31, 20X1Fair value adjustment- minority-passive equity…

Q: Journal Entry Needed? Event/Transaction Yes No A newly incorporated company authorizes (a) 250,000…

A: A journal entry is prepared by the company to record the economic and non-economic transactions of a…

Q: Solely Stock. S transferred appreciated property to a newly created corporation for 60% of its stock…

A: When the capital asset is sold above than its carrying value, the gain incurred on such transaction…

Q: Required information Problem 7-47 (LO 7-2) (Algo) [The following information applies to the…

A: The financial result of selling an equity security (such as stock or shares of a company) owned by a…

Q: QUESTION ONE: The information below relates to sail and its subsidiary wave. 31st December 2015…

A: CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31ST DECEMBER 2015Assets…

Q: From d.) to m.)

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: Ch16: On July 1, 2019, an interest payment date, 60, 000 of Parks Co, bonds were converted into 1,…

A: Bonds payable refer to a financial instrument that is issued to the public to raise funds. Bonds are…

Q: The following book and fair values were available for Westmont Company as of March 1. Book Value…

A: Consolidation entries are required to be passed when a company takes over the business of other…

Q: Company A Acquires Company B at $9 per share Company B; Trading at $5, 1,000,000 outstanding shares…

A: In case of Acquisition, Acquiring company, when acquires another company called target company, it…

Q: Sparrow Corporation (a calendar year, accrual basis taxpayer) had the following transactions in…

A: E&P refers to Earnings & Profits. It is generally the amount of earnings and profits…

Question

A corporation issued 180 shares of ts $5 par value common stock an payment of a $2600 charge fom es accountant for assistance in fing its chater with the state The entry to tecned
this transaction will include
Multole Choice
O AS2600 cedt to Comoe Stock
AS200 debit to Lroa Expenses
AS00 creotto Pidn Ceptal n Ecess f r Vae Conmon Stoo
A S2600 orat to Cnh.
AS00 ortit to Oroannon Erpenses

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Show solution pleas thanks
Please do not give solution in image format thanku
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 ,in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 10,000 c. 47,500 d. 50,000
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the Y net assets was $ 140,000 , in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 , declared dividend $30,000 , X using equity methods what is non- controlling interest balance on 1/1/2019 Select one: a. 37,500 b. 47,500 c. 50,000 d. 10,000 Next page ere to search hp 近

do not give solution in image
PLEASE DO NOT GIVE SOLUTION IN NIMAGE FORMAT
on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $ 140,000 , in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 y reported income $50,000 , declared dividend $30,000 , X using equity methods what is good will balance on 1/1/2019 Select one: a. 10,000 b. 47,500 c. 37,500 d. 50,000 Previous page Next pag W to search hp
IUuwvie t0 Accountancy Company is: a. P393,000 b. P376,500 c. P390,000 d. P406,500 11. YSL Corporation acquired 80% of the outstanding ordinary shares of GBX Company on June 1, 2022 for P586,250. GBX Company's shareholder's equity components at the end of this year were as follows: Ordinary shares, P100 par, P250,000; Share premium, P112,500 and Retained earnings, P222,5000. NCI is measured at fair value. All the assets of GBX were fairly valued, except for inventories, which is overstated by P11,000 and equipment, which is understated by P15,000. Remaining useful life of equipment is 4 years. Both companies use straight line method for depreciation and amortization. Shareholder's equity of YSL on January 1, 2022 is composed of Ordinary shares, P750,000; Share premium, P175,000 and Retained earnings, P525,000. Fair value of NCI on the date of acquisition is P117,500. Goodwill, if any, should be written down by P14,225 at year end. Net income for the first year of parent and subsidiary…
i need answer of this question asap.
not use ai please