Quay Co. Had the following transactions during the current period.
Mar. 2 Issued 5,000 shares of $5 par value common stock to attorneys in payment of a bill for $30,000 for services performed in helping the company to incorporate.
June 12 Issued 60,000 shares of $5 par value common stock for cash of $375,000.
July 11 Issued 1,000 shares of $100 par value preferred stock for cash at $110 per share.
Nov. 28 Purchased 2,000 shares of treasury stock for $80,000.
Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. )
Date Account Titles and Explanation Debit Credit
Quay Co. Had the following transactions during the
Mar. 2June 12July 11Nov. 28
Mar. 2June 12July 11Nov. 28
Mar. 2June 12July 11Nov. 28
Mar. 2June 12July 11Nov. 28
Answers
The first entry records the issuance of 5,000 common shares at a par value of $5, with $30,000 allocated to Legal Services Expense.
The second entry records the issuance of 60,000 common shares at a par value of $5, with $375,000 allocated to Cash.
The third entry records the issuance of 1,000 preferred shares at a par value of $100, with $110,000 allocated to Cash. The fourth entry records the purchase of stock for $80,000 in cash.
Date Account Titles and Explanation Debit Credit
Mar. 2 Legal Services Expense 30,000
Common Stock (5,000 shares x $5 par value) 25,000
Paid-in Capital in Excess of Par Value - Common Stock 5,000
June 12 Cash 375,000
Common Stock (60,000 shares x $5 par value) 300,000
Paid-in Capital in Excess of Par Value - Common Stock 75,000
July 11 Cash (1,000 shares x $110 per share) 110,000
Preferred Stock (1,000 shares x $100 par value) 100,000
Paid-in Capital in Excess of Par Value - Preferred Stock 10,000
Nov. 28 Stock 80,000
Cash 80,000
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Related Questions
suppose that glamour nails, incorporated's capital structure features 30 percent equity, 70 percent debt, and that its after-tax cost of debt is 4 percent, while its cost of equity is 10 percent. if the appropriate weighted average tax rate is 21 percent, what will be glamour nails' wacc?
Answers
Glamour Nails' WACC is 6.92% when glamour nails, incorporated's capital structure features 30 percent equity, 70 percent debt, and that its after-tax cost of debt is 4 percent, while its cost of equity is 10 percent. if the appropriate weighted average tax rate is 21 percentl.
To calculate the WACC (Weighted Average Cost of Capital) for Glamour Nails, we need to use the formula:
WACC = (E/V x Re) + (D/V x Rd x (1-Tc))
Where:
E/V = percentage of equity in the capital structure = 30%
Re = cost of equity = 10%
D/V = percentage of debt in the capital structure = 70%
Rd = after-tax cost of debt = 4%
Tc = weighted average tax rate = 21%
Now, let's plug in the values:
WACC = (0.3 x 0.1) + (0.7 x 0.04 x (1-0.21))
WACC = (0.03) + (0.0392)
WACC = 0.0692 or 6.92%
Therefore, Glamour Nails' WACC is 6.92%.
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during fiscal 2018, shoe productions recorded inventory purchases on credit of $537.8 million. the financial statement effect of these purchase transactions would be to:
Answers
The inventory purchases made on credit would have an impact on the financial statements by raising inventory and accounts payable on the balance sheet and decreasing net income on the income statement.
Inventory, or stock in British English, refers to the goods and supplies that a business keeps on hand with the idea of selling them, utilizing them in production, or utilising them for other purposes.
Inventory management's primary goal is to specify the dimensions, configuration, and placement of goods that are kept in storage. There are various locations inside a plant or throughout a supply network where production and material stock must occur before the regular and scheduled course.
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Which of the following can result from inflation in the United States?
A. Currency exchange rates remain the same.
b. Investors buy products in other countries.
c. The price of goods in the United States falls.
d. The value of the U.S. dollar increases.
Answers
Answer:
Investors buy products in other countries (B)
Explanation:
Out of all the answers
(A) Currency exchange rates remain the same. No
(B) Investors buy products in other countries. YES
(C) The price of goods in the United States falls. No
(D) The value of the U.S. dollar increases. No
The reason why it is not A, B, or C. When inflation happens the currency exchange rates are lower cause our inflation The Price Of goods doesn't fall it actually rises, and the value of the dollar actually decreases due to inflation. It just makes sense for investors to buy from other countries where they can pay less for what they get here in the United States.
The result from inflation in the United States can investors buy products in other countries. The correct option is (b).
What do you mean by the inflation in USA?A loss of purchasing power over time, or inflation, means that your dollar will not buy as much as it did today. The annual change in prices for a basket of goods and services is commonly used to measure inflation. There are two primary inflation indicators in the US.
According to John Taylor, a Stanford economist, monetary policy is a significant factor in the rise in inflation.
According to Stanford economist John Taylor, inflation increases when the Federal Reserve sets an interest rate that is too low or when the growth of the money supply is too rapid, as it is at the moment.
Uneven price increases during an inflationary period certainly lower some consumers' purchasing power.
Therefore, the result from inflation in the United States can investors buy products in other countries.
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The mean number of errors per page made by a member of the word processing pool for a large company is thought to be 1.8 with the number of errors distributed according to a Poisson distribution. If a page is examined, what is the probability that more than two errors will be observed?
Answers
Answer:
The probability will be "0.26938".
Explanation:
The given value is:
Mean
\(\mu = 1.8\)
By using Poisson probability formula, we get
⇒ \(P(X = x) = \frac{ (e-\mu\times \mu x )}{x!}\)
⇒ \(P(X > 2) = 1 - P(X \leq 2)\)
⇒ \(1 - (P(X = 0) + P(X = 1) + P(X = 2))\)
⇒ \(1 - (e-1.8 * 1.80) / 0! + e-1.8 * 1.81) / 1! + e-1.8 * 1.82) / 2! )\)
⇒ \(1 - 0.73062\)
⇒ \(0.26938\)
Why should businesses be socially responsible? Give any two reasons.
Answers
Answer:
Embracing CSR increases customer retention and loyalty, increases employee engagement, improves brand imaging, attracts investment opportunities and top talent, and makes a difference for bottom-line financials.
Explanation:
Yeah.
discuss and record what global warming is and what greenhouse gases are. How does this connect to our research topic?
Answers
Answer:
Global warming describes the current rise in the average temperature of Earth’s air and oceans. Global warming is often described as the most recent example of climate change.
Greenhouse gases, such as carbon dioxide, methane, nitrous oxide, and certain synthetic chemicals, trap some of the Earth's outgoing energy, thus retaining heat in the atmosphere. This heat trapping causes changes in the radiative balance of the Earth—the balance between energy received from the sun and emitted from Earth—that alter climate and weather patterns at global and regional scales.
So I am not sure what is your topic about but this is the definition of global warming and greenhouse gases
PLEASE do your best on these questions, it’s 75% of my grade
Answers
Answer:
C
Explanation:
Im pretty sure its C. Everyone has to sign a lease when renting something
Define careere pleaseeeeeeeeee
Answers
Answer:
a profession or occupation chosen by one's life work.
Having or following a career as specific career diplomat.
Explanation:
Hope this helps.. ;)
FYI I did research and I didn't copied and pasted..
Answer: an occupation undertaken for a significant period of a person's life and with opportunities for progress.
Like a police officer, fire fighter, cashier, fast food worker, teacher, principle, Etc....
Hope this helps... Stay safe and have a great Thanksgiving!!! :D
Which quality of accounting information states that the information is verifiable and is not subject to opinion.
Answers
Reliability!
Hope this helps, Good luck! :)
As children, we just have one or two things, but as adults, we have a complete bag of balls that we are attempting to maintain in the aif. Consider all the roles you may be playingwife, mother, daughter, employee, student, military spouse fwhich, while technically a "wife" role, has its own unique issues, so I think we can call it out individuallyl. PTA member, church conmittee chair, blopeer, bock dub member, etc. In addition, the upcoming holiday saason will make you further busier. Last year, during the fall I was attending classes and learning a new job which was very complex. Being a full-time student along with working a full-time job can be chatlenging. Being able to balance work and school can be challenging because i feel like l've been prioritizing work above study. I need to earn money for school, so I must work. For scholarships and decent grades, I still need to continue my education. College is largely dependent on finances. You cannot obtain an education without money. In my case, not working will prevent me from having money or a good education. But I have found that being organized can make it a bit better. However, when learning a new job that is complex you can tend to get overwhelmed. Which happened to me, I felt like every time I completed an assignment at school that was difficult and time-consuming. I was faced with even a more difficult task at work. At times I felt like giving up and hiding trom the world and my responsibilities. The painful reminders that there Through completing the Business Writing Assignment, you constructed a workplace document and engaged in the writing process by taking your instructor's feedback and employing it to improve your assignment. It is important to take time to reflect on your own writing process to hone the process and use it to empower you to improve your process over time. Locate your Business Writing Assignment and evaluate what you wrote. Since this is a reflection, you can include your emotions and reactions, and use the first person ("I′′ ) to write your reflection. In a 550-word reflective response, complete the following elements:
- Discuss your experience writing your assignment, reviewing your instructor's initial feedback, and revising your response.
- Explain some of your writing process and what you thought worked well. - Also, detail some of what in your process you will look to improve for next time.
Answers
Writing the Business Writing Assignment was a challenging yet valuable experience. Receiving and implementing feedback from my instructor helped me improve my work, and I realized the importance of reflection and continuous improvement in my writing process.
Writing the Business Writing Assignment was a journey that involved multiple stages. Initially, I invested time and effort into constructing a workplace document, aiming to meet the assignment requirements. However, it was the process of reviewing my instructor's initial feedback that truly enhanced my understanding and propelled me towards improvement.
By carefully considering the feedback, I gained valuable insights into the strengths and weaknesses of my writing. It allowed me to identify areas that required refinement, such as clarity, organization, or the inclusion of specific details. Armed with this knowledge, I embarked on the revision phase, diligently incorporating the suggestions and making necessary adjustments.
Throughout the writing process, I found certain aspects of my approach to be effective. For instance, I appreciated the value of planning and outlining before diving into the actual writing. This allowed me to structure my ideas and ensure a logical flow in the document. Additionally, seeking feedback from peers or colleagues provided valuable perspectives and helped me fine-tune my work.
However, I recognize the need for improvement in certain areas of my writing process. One aspect I aim to enhance is time management. As the assignment coincided with a busy period in my life, I realized the importance of allocating dedicated time for writing, revising, and incorporating feedback. Improving this aspect will ensure a more balanced and efficient writing process in the future.
In conclusion, the experience of writing the Business Writing Assignment, coupled with the invaluable feedback from my instructor, taught me the significance of reflection and continuous improvement. Through careful analysis of my writing process, I identified strengths to build upon and areas to refine, emphasizing the importance of time management and seeking constructive feedback for future assignments.
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what difference would it make to the economy if there were no money? What commodities might serve as money instead? Provide reason for your answers.
Answers
Answer:
Well, we would simply be reduced to a barter economy. Therefore we would have to trade items for items.
Explanation:
This is the way it is because "Barter" is The exchange (goods or services) for other goods or services without using money. So if we needed beef, we would have to give the person trading the beef something of ours. As for countries who want to trade, if one needs wool, and one needs iron, and country A has Iron and country B has wool They'd barter the two items.
Sandra makes and sells bracelets. It costs her $2 to make each bracelet, plus a one-time cost of $15 for supplies. She plans to sell each bracelet for $5. Let x represent the number of bracelets. Which equation can be used to find the number of bracelets she needs to sell to break even? 2 x minus 5 x = 15 2 x 5 x = 15 2 x 15 = 5 x 5 x 15 = 2 x.
Answers
Selling is to give an item or goods in exchange for cash to the purchaser by the supplier or manufacturer. Sales are done to make a profit over the items manufactured or produced.
2x + 15 = 5x is the equation that should be used.
How to determine the equation?Given,
Cost of each bracelet = $ 2One time cost of supplies = $ 15Selling price of each bracelet = $5Number of bracelets = xThe number of bracelets that she wants to sell can be estimated by equating the total cost for production to the income earned from the selling.
The cost of each bracelet should be multiplied by the number of bracelets needed to be sold and equated with total income multiplied by the number of bracelets she needs to sell.
Hence, it can be written as 2x + 15 = 5x
Therefore, option C 2x + 15 = 5x is correct.
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(a) Knowledge check questions
1 An operations process that has little waste is
known as
production
2 What is the difference between total output and
productivity?
3 You employ 20 employees who produce a
total of 700 units per week. What is the labour
productivity?
4 Explain one reason why managers may be eager to
increase labour productivity,
Answers
The answer to the first knowledge check question is: a lean production process. The answer to the second knowledge check question is: Total output refers to the total amount of goods or services produced, while productivity refers to the efficiency with which those goods or services are produced.
1. Lean production refers to an operations process that has little waste. It is a management approach that focuses on maximizing efficiency and eliminating waste by providing the customer with the highest quality product at the lowest cost possible.
2. Total output is the total amount of goods or services produced, whereas productivity refers to the efficiency with which those goods or services are produced. Productivity is the relationship between the output of goods and services produced to the input of resources used.
3. Labor productivity is calculated by dividing the total output by the number of workers.700 units/20 employees = 35 units per employee per week.
4. Managers may be eager to increase labor productivity because it leads to increased output, lower costs, and increased profits.
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In negative self talk, personalizing is when a person _______. a. focuses only on their problems, ignoring their successes b. blames themselves for every problem, whether it was their fault or not c. believes that every situation will end badly d. see themselves as a failure for not living up to impossible standards please select the best answer from the choices provided a b c d
Answers
Answer:
I believe that the answer is A. Focuses only on their problems, ignoring their successes.
In the personality development of an individual, sometimes the person tries to shrink his thinking capacity and his own willpower; he starts blaming himself without any fault. This is termed "negative self-talk."
What causes negative self-talk?The main reasons for negative self-talk are a lack of self-confidence and depression. When a person fails in doing something, their self-confidence collapses so much that they give up easily, which makes them lose their confidence. This cause is common among those who are easily affected by others' views of them.
Sometimes others' points of view become so heavy on a person's mind who has less or no self-confidence that he starts the blame game. He becomes a self-blamer, believing that whatever happens, especially when something goes wrong, he will be held responsible even if he was not the cause of the problem.
Thus, the correct answer is B, where the person blames themselves for every problem, whether it was their fault or not, because they become the victim of the judgment of other people rather than their own judgment.
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i mass marketing is better than niche marketing true or false
Answers
Answer:
It is true
Explanation:
10) Most organizations find it beneficial to use a standard set of steps, called ________, to develop and support their information systems.A) Systems development methodologyB) Supply chain management systemsC) Analytical processing systemsD) Customer relationship management systems
Answers
Most organizations find it beneficial to use a standard set of steps, called Systems development methodology, to develop and support their information systems.
Organizations use a standard set of steps, such as systems development methodology, to ensure a consistent and effective approach to developing and supporting their information systems. This methodology typically includes stages such as planning, analysis, design, implementation, and maintenance.
A systems development methodology is a standard set of steps or processes that organizations follow to develop, implement, and support their information systems. This methodology ensures a consistent approach to the creation and management of these systems, ultimately enhancing their effectiveness and reliability.
Therefore, the correct answer is a. system development methodology.
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HELPP on question 10
Answers
Answer:
land?
Explanation:
Answer:
Land
Explanation:
The owner of mcdonald's, ray kroc, turned to his business associates - his suppliers - for funds to keep the business going.
a. True
b. False
Answers
"The owner of McDonald's, ray Kroc, turned to his business associates - his suppliers - for funds to keep the business going the given statement is true.
"Kroc shall receive one and nine-tenths per cent (1.9 per cent) of net profits generated by the franchisee(s), with one-half per cent (0.5 per cent) of said net earnings given to Richard McDonald and Maurice McDonald," according to the contract.
A meagre income source and little cash reserves & added that the franchisee chooses the location and then signs a lease.
The contract is an albatross that forces Kroc to go through a glacially long approval process in order to make adjustments.
Kroc was free to manage the business any way he saw fit after the McDonald brothers were out of the way.
He had established more than 700 eateries in 44 states by 1965. The first fast-food corporation to list on the stock market was McDonald's in April of that year. Shares of stock were issued for $22 each. Within a few weeks, it increased to $49 per share, turning Kroc into an overnight millionaire. By the end of the decade, approximately 1,500 McDonald's restaurants were open throughout the world, exceeding even Kroc's original aim.
Hence, the above-given statement is true.
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what can i do if my total in cash account is not the same in credit and debit side?
Answers
Answer:
Consider which items are meant for debit and credit.
Explanation:
The principle of double entry States that for every debit entries, there must be a corresponding credit entries and vice versa. This principle follow suits when preparing ledger accounts and trial balance.
Trial balance is the arithmetrical accuracy of the ledger. Once double entry principle is adhered to, the trial balance must definitely balance.
Where there are differences, check that items which ought to be debited and credited are correctly done. Also check if correct amount is posted like avoiding transposition error.
During the two years he has been working, Jeffrey has saved some money to buy a house. His parents have agreed to loan him part of the down payment, and he has started to look for a house he can afford. He discovered a great house that has two apartments in it. He has looked at all the information carefully, done his budget, and thinks he can afford the house because he will live in only part of it and will rent out the other half. If Jeffrey buys this house, lives in the apartment upstairs and rents out the apartment downstairs, which of the following is true?
Answers
Answer:
you have to give "the following"
Draw a correctly labeled graph of a housing market in equilibrium. On your graph, illustrate an effective legal limit (ceiling) on rent. Identify the quantity of housing demanded, the quantity of housing supplied, and the size of the resulting surplus or shortage.
Answers
Answer:
In the first picture I uploaded, I show the housing market equilibrium without any effective legal ceilings on rent. In this equilibrium, the quantity demanded and the quantity supply reach an equilibrum of 70, at a price of $1,100 per rent.
In the second picture I uploaded, we can see the price ceiling in red. The price ceiling does not allow the rent to reach equilibrium, which causes a demand of eighty houses, but a supply of sixty houses, leading to a housing shortage of 20 houses.
the study also explains the difference between traditional and digital marketing.
Answers
Traditional Marketing is not cost-effective. Digital Marketing is more cost-effective-promoting. It is not so good for Brand building.
What is a market, exactly?In order to expedite the exchange or transaction of products and services, buyers and sellers can come together in a market. A market may be actual, like a real store, or it may be virtual, like an online retailer. Financial markets, auction markets, and criminal markets are other examples.
Why has trading been halted?There are a variety of causes for suspended trading, including: absence of up-to-date, accurate, or sufficient information about a corporation, as in the case of late filing of periodic reports. There are concerns over the veracity of publicly available material, especially the information in recently released news releases.
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What are 10 things that makes a business a disruptor? (must have 10 reasons cannot be the same)
Answers
Some of the things that make a business a disruptor are:
Unstable expectationsIrregular business modelsInconsistenciesComplex business modelsComplex ecosystemsLack of job satisfactionWhat is a Business Disruptor?This refers to the factors that disrupt the normal flow of a business due to inconsistencies, etc.
Hence, we can see that based on the fact that for an effective business to run, it needs to have good vision and mission statements that are clear and easy to follow.
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Donna is thinking about buying a house that costs $250,000. If she puts down $50,000 and is able to get a 5 percent
mortgage, she wants an estimate of her total monthly housing expenses. The average annual cost
for owning a house is 4.09 percent of the value of the house. If we do not include the opportunity cost of the down
payment, amortization on the loan or any tax benefits from homeownership, what will be her monthly cost the first
month?
Answers
Answer:
$1,685.41
Explanation:
we need to calculate:
monthly interest payment on the mortgage for the first monthmonthly cost of owning a housemonthly interest payment on the mortgage for the first month = $200,000 x 5% x 1/12 = $833.33
monthly cost of owning a house = $250,000 x 4.09% x 1/12 = $852.08
total monthly cost = $833.33 + $852.08 = $1,685.41
Why are most economies in the world today considered mixed economies?.
Answers
Answer:
Why are most economies in the world today considered mixed economies? Most economies are considered mixed because most have some portion of the means of production under government control. Most economic systems also have some element of the market or capitalism.
Explanation:
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"Hi, Sam, how are you? How did you like our new product range?" Identify the flow of organizational communication in this example.
a. Downward vertical communication
b. Upward vertical communication
c. Horizontal communication
d. Grapevine communication
Answers
The communication flow in this example is "Upward Vertical Communication."
Upward communication is the flow of information from lower-level employees to higher-level management. Option B
In this example, Sam is the lower-level employee, and the person asking the question is likely a higher-level manager or supervisor.
The question about the new product range indicates that the manager is seeking feedback from Sam on the product line. This type of communication is crucial as it allows management to understand how the product is being received by employees and customers, enabling them to make necessary improvements.
The communication flow is also informal, indicating a friendly and open organizational culture that values employee input. This type of communication fosters trust and collaboration between employees and management.
In contrast, downward communication is the flow of information from higher-level management to lower-level employees, such as instructions, goals, and policies. Horizontal communication occurs between employees at the same level, such as collaboration between colleagues in the same department. Grapevine communication refers to informal communication that occurs through rumors, gossip, or unofficial channels. Option B
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Helpmeeeeeeeeeeeeeee
Answers
Answer:
18. b : most economic decisions are made by buyer and sellers
19. b : federal income tax
Explanation:
Bina Co. purchased a vehicle on January 1st for $15,000 and estimates it will use the vehicle for eight years with a $3,000 salvage value. Using the double
declining-balance depreciation method, compute the vehicle's second year depreciation expense.
O $3,750.00
O $3,000.00
O $2,812.50
O $2,250.00
Answers
Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
Second year depreciation expense
First step is to calculate the first year depreciation expense
First year depreciation expense=15,000×(100%/8 x 2)
First year depreciation expense=15,000 x 25%
First year depreciation expense=3,750
Second step is to calculate Second year depreciation expense
Second year depreciation expense = (15,000-3750) x 25%
Second year depreciation expense=11,250x 25%
Second year depreciation expense =2812.50
Therefore Using the double declining-balance depreciation method, the vehicle's second year depreciation expense is: $2,812.50.
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Differentiate between generic and enterprise competition
Answers
Answer:
Generic competition is competition among different products that solve the same purpose while enterprise competition is am orderly established business with limited liability of another person. The main difference between the two is that generic is rivalry among similar businesses while enterprise is the company itself.
Differences between generic and enterprise competition
Generic competition is regarded as the third level of competition while enterprise competition is not among the level of competition but it does existGeneric competition are often longer-term and focuses on substitutable product categories that is it exists between business product while Competitive Enterprise is simply a type of competition that exist been enterpriseFor better understanding, lets explain what Differences between generic and enterprise competition
Generic competition is a type of competition that is outward-oriented and focuse on products. the market that exists here consists of those products and services fulfilling the same customer needCompetitive Enterprise is simply when an existing or planned business enterprise are involved or engages in any activity and also owns or controls some a useful interest and are involved in any activity that tends to competes or will compete with other enterpriseFrom the above, we can therefore say that the answer
Differences between generic and enterprise competition
Generic competition is regarded as the third level of competition while enterprise competition is not among the level of competition but it does existGeneric competition are often longer-term and focuses on substitutable product categories that is it exists between business product while Competitive Enterprise is simply a type of competition that exist been enterpriseLearn more about enterprise competition from:
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stacey noted that the client was a cantankerous old man and that her current project team lacked the requisite skills to work with him. time was running short, so the best approach to making sure the
Answers
In a situation where Stacey noted that the client was a cantankerous old man and that her current project team lacked the requisite skills to work with him, and the time was running short, so the best approach to making sure the project team had the necessary skills was to hire a contractor for the life of the project. Therefore, the option A holds true.
What is the significance of a contractor?A contractor can be referred to or considered as a person to whom a company outsources its projects and operations in order to save the time and efforts on a project, and also ensure the completion of a project well within the deadline time.
Therefore, the option A holds true and states regarding the significance of a contractor.
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The missing part of the incomplete question has been added below for better reference.
Stacey noted that the client was a cantankerous old man and that her current project team lacked the requisite skills to work with him. Time was running short, so the BEST approach to making sure the project team had the necessary skills was to:
A. Hire a contractor for the life of the project
B. Leave the project mid-way
C. Appoint someone else in the team
D. None of these