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 280 shares to its attorneys in payment of a $4,800 charge for drawing up the articles of incorporation. The entry to record this transaction would include:__________.
a. A debit to Organization Expenses for $4,800.
b. A debit to Organization Expenses for $2,800.
c. A credit to Common Stock for $4,800.
d. A credit to Paid-in Capital in Excess of Par Value, Common Stock for $4,800.
e. A debit to Paid-in Capital in Excess of Par Value, Common Stock for $2,000.

Answers

Answer 1

Answer:

a. A debit to organization expenses for $4800

Explanation:

Based on the information given we were told

the corporation issued a 280 shares in payment of the amount of $4,800 which was a charge for drawing up the articles of incorporation . Therefore the journal entry to record this transaction would include A debit to organization expenses for the amount of $4,800 that was charge for drawing up the articles of incorporation.


Related Questions

You own a shoe store with a merchandise book value of $178,000. You conduct a physical inventory and find the value to be $169,000. Your total sales between inventories totaled $476,000. Calculate the shrinkage as a percentage of sales.

Answers

Answer:

1.89%

Explanation:

The book value of the merchandise is  $178,000

Physical inventory reveals stock is worth $169,000

The shrinkage = $178,000 - $169,000

=$9000

As a percentage of sales, the shrinkage will be

=$9000/$476,000 x 100

=0.0189076 x 100

=1.89%

Answer:

1.9%

Explanation:

You do a search on your mobile phone for "clothing stores near me". Your top result is a search ad for a Banana Republic (clothing store) that is two blocks away. Your friend (standing next to you) does the same search but does not receive that ad. You are a frequent Banana Republic shopper and your friend is not. This ad targeting is an example of location-based targeting combined with:_____.A. temporal targetingB. behavioral targetingC. weather-based targetingD. targeting based on social contextE. each is correct

Answers

Answer:

B. behavioral targeting

Explanation:

According to the information in the question above, it can be said that this ad targeting is based on location combined with behavior.

Behavioral targeting is based on targeting your consumers based on past behaviors, that is, as you are a frequent consumer of Banana Republic, it is correct to state that you have had previous buying behavior, so the ad appeared for types of people like you and not to your friend, who despite his location, is not a frequent consumer of Banana Republic, so he didn’t receive the ad because he hadn’t previously behaved.

This ad targeting is an example of location-based targeting combined with behavioral targeting.

Behavioral targeting is simply known as a marketing method that often uses web user information to make advertising campaigns strong.

It entails putting together web searches, purchase histories, frequently visited websites and other information to create a full user profile, showing what your customers wants, avoids and purchases.

It is marketing method that uses web user information.

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Select the qualification that is best demonstrated in each example.
Vera is a High School Principal who sets a goal that more than half of the students from her high school will go on to
college in four years
Cedric is a Preschool Education Administrator who stays calm and patient even when dealing with parents who are
angry with one of the teachers in his school.
Jessie is a School District Administrator who manages the budget for a school district and decides how money will b
spent.
Kelly is a Middle School Principal who analyzes information about class sizes to decide how many teachers the
school will need the next year.
Intro
Done

Answers

Answer 1. Long term2.stress3.fiancé4.critical

Explanation:

Answer:

Vera is a High School Principal who sets a goal that more than half of the students from her high school will go on to college in four years

✔ long-term planning skills

Cedric is a Preschool Education Administrator who stays calm and patient even when dealing with parents who are angry with one of the teachers in his school.

✔ stress-management skills

Jessie is a School District Administrator who manages the budget for a school district and decides how money will be spent.

✔ finance skills

Kelly is a Middle School Principal who analyzes information about class sizes to decide how many teachers the school will need the next year.

✔ critical thinking skills

Explanation:

A firm has a capital structure with $14 in equity and $72 of debt. The cost of equity capital is 14.16% and the pretax cost of debt is 5.34%. If the marginal tax rate of the firm is 28.94% Compute the weighted average cost of capital of the firm.

Answers

Answer: 5.48%

Explanation:

Total capital = 14 + 72 = $86

Weight of equity = 14/86

Weight of debt = 72/86

WACC = (Weight of debt * Cost of debt * ( 1 - tax)) + (Weight of equity * cost of equity)

= (72/86 * 5.34% * (1 - 28.94%)) + (14/86 * 14.16%)

= 0.0317687776744186 + 0.02305116279

= 5.48%

Frictional and structural unemployment can be alleviated by implementing a supply-side policy such as 19) A) * decreasing government subsidies. B) increasing the power of trade unions. ) cutting back on business spending on educational training. D) the government giving tax breaks to companies locating in poor geographic areas.​

Answers

Answer: the government giving tax breaks to companies locating in poor geographic areas.

Explanation:

The power the Federal Reserve has to control credit terms on some loans made by banks and other lending institutions is called ______ controls.

Answers

Answer:

selective credit

Explanation:

Selective credit control are targeted to specific sectors

Were the behaviors of any team members particularly valuable or detrimental to the team? What did you do to encourage or discourage the behaviors?

Answers

Explanation:

A work team can be very beneficial for an organization to be able to develop new ideas and problem solutions to achieve its objectives and goals.

When well integrated, members can collaborate on important ideas and work can be more dynamic, effective and motivating. However, it is necessary to have the perception that a team is composed of individuals who have different personalities, which can be a potential for conflict, if there is no assertive communication and management.

To encourage positive behaviors, it is necessary for the leader to establish an effective communication system, where each suggestion or problem can be quickly communicated and answered. Providing feedback on the job is also essential to keep the team motivated.

In a team, all the members have to feel that they are valuable pieces for the group, it is necessary that each one has the opportunity to contribute with their skills towards common goals.

The behaviors of any team member can be valuable and even harmful to the team. it depends upon the members of the team how they are supporting and behaving in a team.

What is behavior?

Behavior is the certain acts of the people. every people on the earth have some kind of behavior. Behavior is the response of the person to the things that are happening whether internally, externally, thoughts, or other things. the leader can do many things to encourage the person like make them follow the good behavior routine.

Thus, the behavior can be changed and it can be both valuable and harmful.

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Suppose that Congress enacts a major tax increase. At the same time, the Federal Reserve uses monetary policy in such a way that the combined effect of the tax increase and the monetary policy is that GDP does not change at all. Based on this information, explain clearly what the overall (short-run) effect?

Answers

Answer:

Since GDP does not change, it means that Federal Reserve System undertook expansionary monetary policy to counteract the contractionary fiscal policy.

a. Investment - Expansionary monetary policy means fall in interest rate, so investment would rise.

b. The net effect would be that AD curve would not have changed (since output is constant), so price level remains the same.

c. Government would get surplus as government spending is same but tax revenue rose.

Peter crossed the street at a crosswalk without looking for oncoming traffic. He was struck first by a car driven by Abel and then by a car driven by Baker. Peter sued Abel and Baker for negligence. The jury determined that Peter was 60% at fault, Abel 30% and Baker 10%. The jury also determined that Peter suffered damages of $100,000. Abel is insolvent. In a contributory negligence jurisdiction, how much can Peter collect from Baker

Answers

Answer: Nothing

Explanation:

A contributory negligence state, simply states that in a situation whereby a plaintiff is negligent and thereby contributes to a particular accident, he or she will in this case be barred from recovering.

Since Peter crossed the street at a crosswalk without looking for oncoming traffic, Peter would collect nothing from Baker.

Blaylock plans to sell 85,000 units of product no. 794 in May, and each of these units requires three units of raw material. Pertinent data follow. Product No. 794 Raw Material Actual May 1 inventory 11,000 units 29,000 units Desired May 31 inventory 17,000 units 20,000 units On the basis of the information presented, how many units of raw material should Blaylock purchase for use in May production

Answers

Answer:

Purchases=  264,000 units

Explanation:

Giving the following information:

Product N°794:

Sales= 85,000 units

Beginning inventory= 11,000

Ending inventory= 17,000

Raw materials:

Standard raw material per unit= 3 units

Beginning inventory= 29,000 units

Ending inventory= 20,000 units

First, we need to calculate the total production for May:

Production= sales + desired ending inventory - beginning inventory

Production= 85,000 + 17,000 - 11,000

Production= 91,000 units

Now, purchases of raw material for May:

Purchases= production + desired ending inventory - beginning inventory

Purchases=  91,000*3 + 20,000 - 29,000

Purchases=  264,000 units

When a business owner uses an independent contractor to perform nonhazardous work, the business owner ordinarily is:_____.
a. not liable for harm to third persons or their property.
b. not bound to contracts made by the independent contractor.
c. not liable for the negligence of employees of the independent contractor.
d. not liable for the negligence of the independent contractor.
e. all of these.

Answers

Answer:

e. all of these.

Explanation:

In the case when the business owner hired an independent contractor so he would not be responsible for the actions and the results of the independent contractor negligence or his contracts

Therefore as per the given options, the option d is to be chosen as it is not bound and not liable at all

hence, the correct option is e.

Organizational politics may be reduced by Multiple Choice being more tolerant of employees who use political tactics to get what they want from the organization. conducting background checks on potential employees. cutting back resources available to organizational units. encouraging leaders to become role models of organizational citizenship. selecting employees with a high need for personalized power.

Answers

Answer:

encouraging leaders to become role models of organizational citizenship

Explanation:

Organizational politics is simply a deliberate or an intentional acts of influence to promote,protect or enhance the self-interests of individuals or groups of people.

It can be reduced by encouraging leaders to become role models of organizational citizenship instead of symbols of successful organizational politicians.

It usually had its emphasis based on self-interest that separates this form of social influence.

The charter of a corporation provides for the issuance of 115,873 shares of common stock. Assume that 37,721 shares were originally issued and 3,277 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared?

Answers

Answer:

$68,888

Explanation:

The Dividend are paid base on outstanding shares

Dividend paid = (37,721 - 3,277 shares) * $2

Dividend paid = 34,444 shares * $2

Dividend paid = $68,888

So, the amount of cash dividends to be paid is $68,888

A company reports basic earnings per share of $3.50, cash dividends per share of $1.25, and a market price per share of $64.75. The company's dividend yield equals:
a. 1.93%
b. 2.14%
c. 4.67%

Answers

Answer:

$1.93

Explanation:

The earnings per share is $3.50

Cash dividend per share is $1.25

Market price per share is $64.75

Therefore the company's dividend yield can be calculated as follows

= 1.25/64.75

= 0.0193 × 100

= $1.93

Hence the company's dividend yield is $1.93

The shape of a normal Treasury yield curve can be characterized as: (a) inverted throughout the maturity spectrum; (b) inverted over a portion of the maturity spectrum, such as between 2 and 7 years; (c) monotonically upward sloping; (d) unaffected by the relative supply and demand for Treasury securities.

Answers

Answer:

(c) monotonically upward sloping

Explanation:

The shape of a normal Treasury yield curve can be characterized as monotonically upward sloping curve. This is because a normal treasury yield curve have lower yields for short term, but gradually increases as the maturity period of the bonds increases. Thus, giving the yield curve an upward sloping shape.

The priority rule which processes jobs according to the smallest ratio of due date to processing time is:________

Answers

Answer: critical ratio

Explanation:

The priority rule which processes jobs according to the smallest ratio of due date to processing time is refered to as the critical ratio.

The critical ratio (CR) is typically used in sequencing work especially during projects or in organizations. For this sequencing, the job that has the lowest critical ratio will be the one that will have to be scheduled first for processing.

Assess the formation of Global One, Unisource, and other partnerships in this case. What strategic factors might have influenced the entry mode choices that these firms made?

Answers

Answer: Global One was a union between Sprint, Deutsch telecom and France telecom it's purpose was to provide telecommunication services to multinationals.

Explanation:

Global One, Unisource and other partnership are created for a multitude of reasons. Global One was a union between Sprint, Deutsch telecom and France telecom it's purpose was to provide telecommunication services to multinationals. Sprint used the strategy as an way of entering foreign countries which was based on political and legal environment they faced there. These issues impacted AT&T's decision to partner with Unisource as regards joint venture. While AT&T would’ve preferred to partner with French or German telephone companies, European overseers would not approve this deal,fearing their size and strong brand name gaining influence over them and their chances of growing

An expense that is readily traced to a department because it is incurred for that department's sole benefit is a(n):________.
a. Common expense.
b. Direct expense.
c. Administrative expense.
d. Indirect expense.
e. Recurring expense.

Answers

Answer:

b . Direct expense

Explanation:

Direct expense is an expense whose cost can be easily identified with a department due to the fact that the expense is incurred for the benefit of the department solely. This means that this expense can be traced directly to a department.

Also, some expenses are known to be directly related to buying of materials , products for use whether in a department or a company; such expenses are classified as direct expenses.

Examples of direct expense includes cost of raw materials , rent of factory, wages etc.

All the following statements about residual value guarantees are correct about residual value guarantees, except that they:
a. protects lessors against technological changes.
b. protects lessors against marketplace changes.
c. protect lessees against lessors who abuse leased assets.
d. protect lessors against lessees who abuse leased assets

Answers

Answer:

c. protect lessees against lessors who abuse leased assets.

Explanation:

The residual value guarantee may be defined as a guarantee that is made to the lessor where the value of an underlying asset will become at least some specified amount at the end of the lease. The guarantee is given by the party unrelated to a lessor.

The residual value guarantee provides to protect the lessor against the lessees who tries to abuse the leased assets. It does not protect the lessees against the lessors.

The following information relates to the Fowler Company for 2014: Beginning accounts receivable 5,000 Credit Sales 40,000 Ending accounts receivable 7,000 What was the amount of cash collections?

Answers

Answer:

$38,000

Explanation:

The amount of cash collections would be computed as;

Cash collections = Beginning accounts receivable + Credit sales - Ending accounts receivable

Where;

Beginning accounts receivable = $5,000

Credit sales = $40,000

Ending accounts receivable = $7,000

Therefore,

Cash collections = [($5,000 + $40,000) - $7,000]

Cash collections = $38,000

Making decisions about how Threadless should allocate its resources to both current and future product innovations is a process known as:_______
a. long-term financing.
b. financial planning.
c. financial management.
d. short-term financing.
e. budgeting.

Answers

Answer:

c. financial management.

Explanation:

financial management can be regarded as carrying out activities such as organizing, controlling as well as planning of financial resources in order to achieve the goals of the organization. It involves the well utilization of funds in a particular Enterprise. It should be noted that Making decisions about how Threadless should allocate its resources to both current and future product innovations is a process known as financial management.

Making decisions about how Threadless should allocate its resources to both current and future product innovations is a process known as Financial management.

Financial management can be defined as the strategic planning, organising, directing, and controlling of financial resources in an organisation.

Financial management can be applied in making the following decisions in an organization:

Investment decision

Dividend decision

Financing decision

It also involves applying the principles of management to the financial assets or allocation of resources in an organization.

Therefore, Financial management is the decision used to allocate resources to both current and future product innovations in a company.

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Journalize Period Payroll The payroll register of Castilla Heritage Co. indicates $1,860 of social security withheld and $465 of Medicare tax withheld on total salaries of $31,000 for the period. Federal withholding for the period totaled $5,270. Retirement savings withheld from employee paychecks were $2,500 for the period. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.

Answers

Answer:

Details                                                                     Debit                  Credit

Salary Expense                                                     $31,000

Social Security Tax Payable                                                             $1,860

Medicare Tax Payable                                                                      $  465

Federal Withholding Tax Payable                                                    $5,270

Retirement Savings/ Contribution Payable                                      $2,500

Salary Payable                                                                                   $41,095

________________________ is revolutionizing how businesses operate factories or maintain equipment. Imagine an engine on an aircraft detecting an issue via sensors, self-diagnosing the issue, and sending a signal to both pilots and a command center to request a fix or even performing the fix on itself. Group of answer choices Internet of Things Business Process Modeling Tools Order Management Systems Enterprise Resource Planning Systems

Answers

Answer: Internet of Things.

Explanation:

Internet of Things relates to how physical objects are now being equipped with software, sensors and every other forms of technologies so that it will aid the sharing and communication of data with other devices over the internet.

Therefore, internet of things is revolutionizing how businesses operate factories or maintain equipment.

On March 31, 2021, Top Notch Goods committed to a plan to sell machinery equipment. The machinery equipment was available for immediate sale, and an active plan to locate a buyer was initiated. The machinery equipment had been purchased on January 1, 2019, for $260,000. The machinery equipment had an estimated six-year service life and residual value of $20,000. The machinery equipment was being depreciated using the straight-line method. Top Notch Good's fiscal year ends on December 31.Calculate the equipment’s book value as of March 31, 2021By December 31, 2021, the machinery equipment has not been sold, but management expects that it will be sold in 2022 for $150,000. For what amount is the machinery equipment reported in the December 31, 2021, balance sheet?

Answers

Answer:

$150,000

Explanation:

This machine is to be classified as an asset held for sale. The assets held for sake are carried on the Statement of Financial Statement at the amount lower of Fair Market Value and the Carrying Amount.

The first step in the performance planning and appraisal process involves? A. Assembling information for the appraisal B. Observing employee job behavior C. Designing the performance plan D. Setting standards and expectations​

Answers

Answer:

Explanation:

d

The first step in the performance planning and appraisal process is setting standards and expectations​. The correct option is D. Setting goals is the first stage in the performance management process.

Why is performance planning important in management?

The idea underlying performance planning is mutuality for survival and growth, which aids in coordinating personal ambitions with organizational objectives. This increases the accountability and objectivity of the performance management process.

Performance planning is a methodical and organized way to achieve an individual's or team's specified goals throughout the course of the assessment year. The team's or an individual's strategy is drafted with the organization's overall goals in mind.

Thus, the ideal selection is option D.

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Dragon makes all sales on account, subject to the following collection pattern: 30% are collected in the month of sale; 60% are collected in the first month after sale; and 10% are collected in the second month after sale. If sales for June, July, and August were $120,000, $160,000, and $220,000, respectively, what were the firm's budgeted collections for August and the company's budgeted receivables balance on August 31?

Answers

Answer: $174000

Explanation:

The firm's budgeted collections for August and the company's budgeted receivables balance on August 31 would be calculated as:

= (30% × $220,000) + (60% × $160,000) + (10% × $120,000)

= (0.3 × $220,000) + (0.6 × $160,000) + (0.1 × $120,000)

= $66000 + $96000 + $12000

= $174000

_____ is the rate that causes the present value of all cash flows from a property (including its resale value) to be equal to the original purchase price of the property.
a) IRR
b) NPV
c) TWR
d) TVM

Answers

Answer:

a) IRR

Explanation:

The internal rate of return is the rate of return at which the net present value is zero

The net present value means the difference between the present value of all cash inflows after discounted and the initial investment

Therefore when the above two things are equivalent to each other so this we called as internal rate of return (IRR)

hence, the correct option is a.

Joe plans to fund his individual retirement account (IRA) with the maximum contribution of $2,500 at the end of each year for the next 30 years. If Joe can earn 10 percent on his contributions, how much will he have at the end of the thirtieth year?
a. $411,235
b. $611,235.
c. $23,567.
d. $43,567.

Answers

Answer:

FV= $411,235.06

Explanation:

Giving the following information:

Annual deposit= $2,500

Number of periods= 30 years

Interest rate= 10%

To calculate the future value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {2,500*[(1.1^30) - 1]} / 0.1

FV= $411,235.06

thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as

Answers

Answer:

E. how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently.

Explanation:

Options are "A. cultural, lifestyle, and demographic changes, B. the birth of new industries, new knowledge, and disruptive technologies, C. weather, climate change, and water shortages, D. interest rates, exchange rates, unemployment rates, inflation rates, and economic growth, E. how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently."

Thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently.

The strategy decision making about the industry and competitive conditions involve evaluating the prices, buyer sensitivity to the prices, serviceability & frequency.

Which of the following is a correct statement about promoting energy conservation?
PLEASE HELP NOWWWW !

Answers

Answer:

we need to know what the options are

Explanation:

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solve for c: 2(c - 6) = 9c + 2 are you smarter than a 7th grader get your answers by answering this question please please please please please 1/5 ( 15 + 10k ) = please help and make sure your answer is accurate. Which statement describes Alexander the Greats military achievements?He greatly expanded the empire.He created advanced weaponry.He established a naval academy.He created new ways to train troops. Please help me with this i can't think Please and thank you A blue print for a house has a scale of 1 in: 5feet The living room has a length of 25 inches and a width of 3 inches what is the actual area of the living room ________________________ is revolutionizing how businesses operate factories or maintain equipment. Imagine an engine on an aircraft detecting an issue via sensors, self-diagnosing the issue, and sending a signal to both pilots and a command center to request a fix or even performing the fix on itself. Group of answer choices Internet of Things Business Process Modeling Tools Order Management Systems Enterprise Resource Planning Systems The book store is having a sale. Every book is $5 off, regardless of the original price.The sale price for every book is $5 less than the original price.Let x = original priceLet y = sale price Which equation represents this situation?A. y = + 5B. y = - 5C. y = 5xD. y = 5 URGENT Why should an agricultural revolution take place before an industrial revolution?1.to ensure there's food to trade for vital natural resources in other countries2.to free workers from the land and ensure there's enough food so they don't starve3.so wealthy people can sell their land to get money to invest in factories4.so there will be enough animals availale to power the factories and provide transportation This African American won a federal court case that allowed him admission at the University of Mississippi, only to have the governor refuse to allow him to enroll in classes. can someone help me with this one ? Create a table for the equation with a y-intercept of 15 and a slope of -5. What is the output when x is -10?x y-2-1012-6 ? 100 points! help please I need this Please help as soon as possible! Thank you A middle school took all of its 6th grade students on a field trip to see a play at a theater that has 3100 seats. The students left 1395 seats vacant. What percentage of the seats in the theater were filled by the 6th graders on the trip? Johnny Come Lately Computers (JCMC) has 20,000 bonds outstanding, selling at 98 percent of par; 300,000 shares of stock outstanding, selling at $32.71 per share; and 50,000 shares of preferred stock, trading at $82 per share. What weight will common stock have in the computation of the firm's WACC? On March 31, 2021, Top Notch Goods committed to a plan to sell machinery equipment. The machinery equipment was available for immediate sale, and an active plan to locate a buyer was initiated. The machinery equipment had been purchased on January 1, 2019, for $260,000. The machinery equipment had an estimated six-year service life and residual value of $20,000. The machinery equipment was being depreciated using the straight-line method. Top Notch Good's fiscal year ends on December 31.Calculate the equipments book value as of March 31, 2021By December 31, 2021, the machinery equipment has not been sold, but management expects that it will be sold in 2022 for $150,000. For what amount is the machinery equipment reported in the December 31, 2021, balance sheet? Which is an equation? Mrs. Robertson is carpeting her rectangular living room.The room is 10 feet wide and 15 feet long. What is thearea to be carpeted? Which statement about resting heart rate is true? Increased physical activity and cardiovascular endurance will lower your Resting Heart Rate. Resting heart rate is calculated by subtracting your age from 220. Use your Resting Heart Rate to calculate your Maximal Heart Rate. Your Resting Heart Rate is lowest just before going to bed.