Bonkers Corp. issues 12,000 shares of $10 par value common stock for $240,000. What is the effect of this transaction?
Q: Accounting
A: Step 1: Define Variable CostThe total cost consists of the variable cost and the fixed cost where…
Q: i need this question answer General accounting
A: Step 1: Define percentage return on investment measures the total gain or loss from an investment…
Q: Vicco Inc
A: Concept of Stockholders' Equity:Stockholders' equity represents the owners' claim on the company's…
Q: Tata Company uses a predetermined overhead rate of $45 per machine hour. Estimated machine hours at…
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is an estimated cost…
Q: General Accounting Question
A: Step 1: Formula Materials price variance = (Actual price - Standard price) x Actual quantity Step…
Q: What is Narus opereting leverage? General accounting
A: Degree of operating leverage = Contribution margin / Operating incomeDegree of operating leverage =…
Q: general accounting
A: Step 1:The cost of goods manufactured can be calculated by adding the work in process beginning to…
Q: Please provide answer this financial accounting question
A: Step 1: Define Deferred Tax Liability (DTL)A Deferred Tax Liability (DTL) arises when taxable income…
Q: give this answer
A: Step 1: Definition of Net incomeNet income is the amount left after taxation, medical insurance, and…
Q: What should investor's expect as a return on this financial accounting question?
A: Step 1: Define Expected Return Using CAPMThe Capital Asset Pricing Model (CAPM) is a financial model…
Q: Subject: Financial Accounting
A: Concept of SalesSales refer to the total revenue generated from selling goods or services over a…
Q: Need help with this general accounting question not use ai
A: Step 1: Definition of Materials Price VarianceThe Materials Price Variance (MPV) measures the…
Q: Provide answer general accounting
A: Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…
Q: The Rolling Department of Kama Steel Company had 2,000 tons in beginning work in process inventory…
A: Concept of Equivalent Units for Direct Materials:Equivalent units for direct materials represent the…
Q: Nu Company reported the following pretax data for its first year of operations. Net sales 2,800…
A: First, we need to calculate the Cost of Goods Sold (COGS). COGS is calculated as the Cost of Goods…
Q: Provide accurate answer
A: Cash basis accounting refers to an accounting method where revenues are recognized when cash is…
Q: The total materials variance for the month is?
A: Explanation of Standard Cost: Standard cost is a predetermined or budgeted cost that a company…
Q: I want to correct answer general accounting question
A: Step 1: Definition of Absorption vs. Variable Costing Impact on IncomeAbsorption costing includes…
Q: Margin and net income
A: Step 1: Introduction to ratio analysisRatio analysis is a method used to analyze financial…
Q: Solve with explanation and accounting
A: Step 1: Define Price-Earnings RatioThe ratio of the market price per share relative to the earnings…
Q: None
A: Predetermined overhead rate as a percent of direct laborThe predetermined overhead rate based on…
Q: Bshshdhedhdhdhdhdbdhd
A: Calculate the total sales revenue:Unit sales = 6,100Selling price per unit = $50Total Sales Revenue…
Q: Determine the total recorded cost of the new machine on these general accounting question
A: Step 1: Define Total Recorded Cost of a New MachineThe total recorded cost of a machine includes all…
Q: Provide answer
A: Step 1: Definition of High-Low MethodThe high-low method is a technique used to separate fixed and…
Q: Calculate the income tax expense on the firm's income statement for the year of this financial…
A: Step 1: Definition of Income Tax ExpenseIncome tax expense refers to the total tax expense…
Q: Provide correct answer this general accounting question
A: Step 1: Define Units Completed in a Process Costing SystemIn a process costing system, units…
Q: Need answer please
A: The formula for Net Income:Net Income = Revenue − ExpensesGiven DataRevenue: $7,500 (all received in…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Direct Labor Rate VarianceThe Direct Labor Rate Variance measures the…
Q: Calculate the applied overhead for this general accounting question
A: Step 1: Define Applied OverheadApplied overhead refers to the estimated overhead costs assigned to a…
Q: Financial Accounting Question please give answer
A: Step 1: Define Cash DisbursementsCash disbursements refer to actual cash payments made by a company…
Q: At the beginning of the year
A: Concept of Factory OverheadFactory overhead, also known as manufacturing overhead, refers to all…
Q: Hii expert please given correct answer general Accounting
A: Step 1: Variable costs per unit Using the March data, let's calculate the variable costs per unit…
Q: If you want to make a 15% profit from 250 shillings, what price do you place on your goods?
A: Selling Price=Cost Price+(Cost Price ×Profit Percentage)Cost Price = 250 shillingsProfit Percentage…
Q: Answer this Accounting question
A: Explanation of Selling Price: Selling price is the final amount charged to customers for a product…
Q: I want answer
A: The question requires the determination of the profit margin. Profit margin is a widely used metric…
Q: Compute the overhead rate using the traditional approach
A: Explanation of Traditional (Plantwide) Overhead Rate: The traditional plantwide overhead rate is a…
Q: How much U.S. tax does new tech owe on the subsidiary income?
A: Step 1: Given Value for Calculation Dividend = d = $30,000,000Tax Rate = t = 35% Step 2: Calculation…
Q: If sales are $420,000, variable costs are 72% of sales, and operating income is $40,000, what is the…
A: Concept of Variable Costs:Variable costs are expenses that change directly in proportion to a…
Q: A firm has inventory of $12,600, accounts payable of $11,900, cash of $990, net fixed assets of…
A: Concept of Total Assets:Total assets represent the overall resources owned by a company that provide…
Q: Can you help me with accounting questions
A: Step 1: Definition of Operating LeverageOperating leverage measures how a company's net income…
Q: Choose best answer
A: Detailed explanation:Given:Percent of growth, 12% or 0.12Accounts Receivable, prior year $ 649,196…
Q: help me to solve this questions
A: Step 1: Definition of Overapplied Manufacturing OverheadOverapplied manufacturing overhead occurs…
Q: Congratulations margin per unit?
A: Step 1: Definition of Contribution MarginThe contribution margin is the amount remaining after…
Q: hello tutor please provide answer of this General accounting question
A: Calculations:Step 1: Determine Net Income Available to Common ShareholdersThe formula for Earnings…
Q: The analyst estimated of total assets general accounting
A: Calculation of Net Income for the yearNet Income for the year = Revenue during the year - Expenses…
Q: General Accounting Question provide correct solution
A: Step 1: Define Overhead Cost AllocationOverhead cost allocation refers to the process of…
Q: L.L. Bean operates two factories that produce its popular Bean boots (also known as "duck boots") in…
A: Part 2: Explanation (Detailed Analysis)2014 Data:• Sales: 450,000 pairs• Peak Backorder: 100,000…
Q: GlobalTech, Inc. has sales of 32.6 million, total assets of 24.3 million, and total debt of $8.5…
A: Explanation of Sales Revenue:Sales revenue is the total amount of money a company generates from…
Q: Need correct answer financial accounting
A: Explanation for a: In the given case, we are required to calculate the amount of Social security tax…
Q: Ethen Co
A: Concept of Absorption CostingAbsorption costing is a cost accounting method where all manufacturing…
What is the effective of this transaction on these financial accounting question?
Step by step
Solved in 2 steps
- Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.A corporation reacquires 60,000 shares of its own $10 par common stock for $3,000,000, recording it at cost. a) what effect does this transaction have on revenue or expense of the period? b) what effect does it have on stockholders' equity?Clark Corporation purchased 200 shares of its own $1 par value common stock for $20 per share. What journal entry should be made to record this transaction?
- XYZ Corporation issued 1,000 shares of common stock with a par value of $10 per share. If the company received $15 per share from the issuance, what is the total amount of additional paid-in capital?Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. The company then resells 400 of these shares for $20 per share. Which of the following is recorded at the time of the resale? a. Credit Common Stock for $400. b. Credit Treasury Stock for $8,000. c. Credit Common Stock for $8,000. d. Credit Additional Paid-In Capital for $1,600.Suppose a company purchases 2,000 shares of its own $1 par value common stock for $16 per share. Which of the following is recorded at the time of the purchase? a. Debit Treasury Stock for $32,000. b. Debit Common Stock for $30,000. c. Debit Common Stock for $32,000. d. Debit Treasury Stock for $2,000.
- Gotham Inc. issued 10,000 shares of its $2 par value common stock for $25 per share. The journal entry to record this transaction should include the following: (check all that apply) Select one or more: a. debit "Common Stock" for $20,000. b. credit "Additional Paid-in Capital" for $250,000. c. debit "Cash" for $250,000. d. credit "Additional Paid-in Capital" for $230,000. e. credit "Common Stock" for $20,000. f. credit "Common Stock" for $250,000. g. credit "Additional Paid-in Capital" for $270,000.XYZ Company purchased 10,000 of its own shares at $14 per share. Journalize this transaction. DATE Debit Credit X/X XYZ Company sold 8,500 shares of treasury stock (from (c)) at $18 per share. Journalize this transaction. DATE Debit Credit X/X XYZ Company sold 1,500 shares of treasury stock (from (c)) at $13 per share. Journalize this transaction. DATE Debit Credit X/XA corporation sold 13,500 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this transaction would include: Multiple Choice A credit to Paid-in Capitam Excess of Par Value, Common Stock for $324,000. A credit to Common Stock for $189,000. A debit to Cash for $135,00.
- A corporation sold 9,500 shares of its $10 par value common stock at a cash price of $11 per share. The entry to record this transaction would include: Multiple Choice A credit to Common Stock for $95,000. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $104,500. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $199,500. A credit to Common Stock for $104,500. A debit to Cash for $95,000. OCan you please provide correct answer this financial accounting question?Nexis Corp. issues 2,870 shares of $8 par value common stock at $17 per share. When the transaction is recorded, what credit entry or entries are made? a.Common Stock $48,790. b.Common Stock $22,960 and Paid-in Capital in Excess of Stated Value $25,830. c.Common Stock $22,960 and Paid-in Capital in Excess of Par Value $25,830. d.Common Stock $25,830 and Retained Earnings $22,960.