Jackson Browne Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2021, its first year of operation, the company has the following stock transactions.
Jan. 1 Paid the state $10,000 for incorporation fees.
Jan. 15 Issued 400,000 shares of stock at $5 per share.
July 2 Issued 110,000 shares of stock for land. The land had an asking price of $800,000. The stock is currently selling on a national exchange at $6 per share.
Sept. 5 Purchased 12,000 shares of common stock for the treasury at $7 per share.
Dec. 6 Sold 8,000 shares of the treasury stock at $10 per share.
Instructions
Indicate the accounts and their respective balances that are increased and/or decreased in the above transactions for Jackson Browne Corporation. You must show your computations to receive full credit.
Answers
The stock transactions for Jackson Browne Corporation in 2021 resulted in the following changes in accounts:
Increased:
Cash (Incorporation fees received, proceeds from stock issuance and treasury stock sale)
Common Stock (Shares issued)
Additional Paid-in Capital (Difference between proceeds from stock issuance and par value)
Land (Shares issued in exchange for land)
Treasury Stock (Shares purchased)
Decreased:
Cash (Payment for incorporation fees, purchase of treasury stock)
Additional Paid-in Capital (Payment for incorporation fees, purchase of treasury stock)
Treasury Stock (Shares sold)
Incorporation fees paid on January 1 increase the Cash account and decrease the Cash balance.
Issuing 400,000 shares of stock at $5 per share on January 15 increases the Cash account and the Common Stock account, as well as the Additional Paid-in Capital account. Cash increases by the total proceeds ($5 × 400,000 shares) and Common Stock and Additional Paid-in Capital increase by the par value and the excess of proceeds over par value, respectively.
Issuing 110,000 shares of stock for land on July 2 increases the Land account and the Common Stock account. The Land account increases by the fair value of the land ($800,000) and the Common Stock increases by the par value of the shares issued.
Purchasing 12,000 shares of common stock for the treasury at $7 per share on September 5 decreases the Cash account and the Additional Paid-in Capital account. Cash decreases by the total cost of the treasury shares ($7 × 12,000 shares), and Additional Paid-in Capital decreases by the same amount.
Selling 8,000 shares of the treasury stock at $10 per share on December 6 decreases the Treasury Stock account and increases the Cash account and the Additional Paid-in Capital account. The Treasury Stock account decreases by the cost of the treasury shares sold ($7 * 8,000 shares), and Cash and Additional Paid-in Capital increase by the proceeds from the sale.
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Related Questions
Can you help me solve this problem?
Answers
Answer:
Explanation: you read it slowly and get it understand
My audience would be the people that are of teenage to early adult age.
How to create the adWhen creating an ad, it is important to use attention-grabbing headlines that evoke emotions and curiosity. Use persuasive techniques such as social proof, scarcity, and authority to make your product or service more appealing to your target audience.
Social proof refers to the idea that people are more likely to follow the actions of others. For instance, you can use customer reviews or testimonials to demonstrate that your product or service is trusted by others.
Scarcity involves creating a sense of urgency by indicating that there are limited quantities available or for a limited time only. This can prompt people to take action and make a purchase.
Finally, authority involves using credible sources to support your claims. This can be achieved by using statistics or endorsements from reputable organizations.
In terms of the headline and message, it should be clear and concise, with a strong call-to-action. For example, "Join the Green Revolution Today! Reduce Your Carbon Footprint with Our Sustainable Products"
To be more persuasive, it's important to understand your target audience and tailor your message to their needs and preferences. Additionally, it may be helpful to provide incentives or promotions to encourage people to try your product or service. By using these techniques, you can increase the likelihood of persuading your audience to buy your invention or service.
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Adrian is an investor. He reviews the income statement of a company and concludes that he will benefit from investing in it. What is the information that is provided in the income statement that most likely helped him make this decision?
A.
income statement showed the debts the company owes
B.
income statement showed the net profit of the company for a specific period
C.
income statement showed the assets of the company
D.
income statement showed the equity capital of the company
Answers
Answer:
B. income statement showed the net profit of the company for a specific period
Explanation:
The management prepares an income statement at the end of a financial year to show whether a business made a profit or loss. It lists all the revenue in the top section, the expenses in the middle, and profit or loss at the bottom.
The income statement communicates how much profits a business made during a specific financial period. Adrian was impressed by the profits that the company made that period.
alfred chandler, famed business historian, suggests that a firms organizational structure should follow its business and corporate level strategy because organizational structure
Answers
Alfred Chandler, a well-known business historian, emphasized that a firm's organizational structure should be designed in a way that aligns with its business and corporate-level strategies.
This is because an appropriate organizational structure can help a business achieve its goals more efficiently. It's important to note that organizational structure refers to the hierarchical arrangement of tasks, responsibilities, and roles within a company.
The business strategy of a company defines its goals and objectives, the target market, and the approach to achieving these objectives. Similarly, corporate-level strategy outlines how the business will manage its portfolio of businesses and how they will coordinate their operations. Chandler's theory argues that the organizational structure must be designed to support and implement the business and corporate-level strategy.
For example, if a company wants to diversify its products or enter into a new market, it may require a functional organizational structure with different departments for each product line or business unit. On the other hand, if the company wants to focus on a particular product line, a divisional structure may be more appropriate.
In conclusion, a firm's organizational structure should be in line with its business and corporate-level strategy to achieve its objectives efficiently. This theory is widely accepted by the business community, and many companies consider their organizational structure when devising their strategies.
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Sally is in the new marketing department of a midsized lawn and garden company. She is working on the firm's first-ever STP analysis. She has defined the mission and objectives and identified and selected a segmentation method. The next step is to:________.
A. use the Internet, catalogs, and vendor information to draw up a list of new products.
B. find marketing interns or hire new staff to help with implementation.
C. create pro forma financial statements to complete the package.
D. evaluate the attractiveness of the various segments identified.
E. develop an advertising plan to promote the upcoming sales.
Answers
Answer:
A. use the Internet, catalogs, and vendor information to draw up a list of new products
Explanation:
STP analysis is a method that analysis a product and determines the best way to communicate its benefits to your target group.
STP is an acronym that stands for: Segment your market, Target your best customer, and Position your best offering.
In this case the market has been segmented by Sally who defined the mission and objectives and identified and selected a segmentation method.
The next step is to Target your best customer. This is best done by using the Internet, catalogs, and vendor information to draw up a list of new products.
Leonardo, who is married but files separately, earns $62,500 of taxable income. He also has $16,200 in city of Tulsa bonds. His wife, Theresa, earns $51,200 of taxable income. If Leonardo and his wife file married filing jointly in 2020, what would be their average tax rate?
Answers
If Leonardo and his wife file married filing jointly in 2020, their average tax rate would be 20.99%.To calculate the average tax rate for Leonardo and Theresa .
Calculate their total taxable income by adding the individual taxable incomes: $62,500 + $51,200 = $113,700Determine their total tax liability based on the 2020 tax tables.
Using a tax calculator or the IRS tax tables, their total tax liability is $23,843.25.Subtract any tax credits from their tax liability, if applicable.Assuming they do not have any tax credits, their tax liability is still $23,843.25.Calculate their average tax rate by dividing their tax liability by their taxable income: $23,843.25 ÷ $113,700 = 0.2099 or 20.99%.Therefore, their average tax rate is 20.99%.
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According to the video, which tasks do Urban and Regional Planners perform? Check all that apply.
developing recommendations to improve medical care
o promoting the best use of land and resources
developing plans for growth and renewal
promoting campaigns for political elections
reviewing applications for government assistance
Answers
Answer:
Got it right on Edge!
Explanation:
Promoting the best use of land and resources and developing plans for growth and renewal are the tasks performed by Urban and Regional Planners.
Who are Urban and Regional Planners?Among other areas of interest, urban and regional planners may choose to specialise in topics like transportation planning, community development, historic preservation, or urban design. Public servants, civil and environmental engineers, architects, attorneys, and real estate developers are all common collaborators with planners.
Urban and regional planners design land use plans and policies that support the development of communities, population growth, and the renewal of physical infrastructure.
Therefore, the tasks that Urban and Regional Planners perform are promoting the best use of land and resources developing plans for growth and renewal.
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14.29 Redo Problem \( 14.5 \) with the following additional information. - The old machine has been depreciated under a five-year MACRS property class. - The new machine will be depreciated under a fi
Answers
Problem 14.5A company must replace an old lathe with a new, more efficient one. The old lathe was purchased for $50,000 nine years ago and is being depreciated using the MACRS five-year recovery period.
The new lathe will save $20,000 per year in direct costs. The firm's marginal tax rate is 40 percent. The cost of capital is 12 percent. Should the new lathe be purchased. In the given case, the old machine has been depreciated under a five-year MACRS property class.
The new machine will be depreciated under a five-year MACRS property class too, it can be determined as follows:
Depreciation schedule for the old machine:
Year Depreciation Percentage of Book Value Book Value1 20%
Total depreciation over the five years = $50,000 - $16,159 = $33,841
Depreciation schedule for the new machine:
Year Depreciation Percentage of Book Value Book Value1 \(20% $75,000 $60,0002 32% $60,000 $40,8003 19% $40,800 $32,8324 12% $32,832 $28,9095 11% $28,909 $25,6966 6% $25,696 $24,157Total depreciation over the five years = $75,000 - $24,157 = $50,843 .\)
The new machine should be purchased as it has a positive NPV of $36,166.92 which is more than zero.
The net present value method is an appropriate capital budgeting technique that takes into consideration the time value of money, and helps determine whether an investment is profitable or not.
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Many major U.S. cities have adopted rent controls for some housing. An effective rent control is what kind of price control?
Answers
Many major U.S. cities have adopted rent controls for some housing as effective rent control is a form of price ceiling.
Rent control is a specific type of price control that sets a maximum limit, or price ceiling, on the amount landlords can charge for rent. Under rent control policies, the government intervenes in the rental market to ensure affordability and protect tenants from significant rent increases. By imposing limits on rent prices, rent control aims to provide affordable housing options for tenants, especially in high-demand areas where housing costs may be prohibitively high.
Rent control policies typically establish criteria such as allowable rent increase percentages, exemptions for certain housing types, and rules regarding tenant protections. The intention is to balance maintaining affordability for tenants and providing landlords with a reasonable return on their investments.
However, rent control policies can have unintended consequences. They may discourage property owners from maintaining or investing in rental properties, leading to a decrease in the overall quality and availability of rental housing. Additionally, rent control can create market distortions, reducing the incentive to build new housing units and potentially exacerbating housing shortages.
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Rent control is a price control in the form of a price ceiling that limits how much landlords can increase rent each year. It is implemented to protect renters from rising housing costs.
Explanation:Rent control is an example of a price control, specifically a price ceiling. A price ceiling is a maximum price imposed by the government that prevents prices from going above a certain level. In the case of rent control, the price ceiling limits how much landlords can increase rent each year, aiming to protect renters from skyrocketing housing costs.
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what are 5 steps that a salesperson should follow when using a suggestion selling technique?
Answers
1)no the goods
2)good reputation
3)understand the business
4)cooperate with buyers
5)involve sales girl or boy if needed
if i have to design a program to ask a series of questions to a customer to suggest a movie from the company's library, will it be a rule based approach or a learning based approach?
Answers
If I had to create a program to ask a consumer a collection of questions to recommend a movie first from company's library, I would use a learning-based strategy.
a strategy based on learning
In this method, the computer obeys any guidelines or directives provided by the developer. With this method, the computer picks up knowledge on its own. By using rule-based methods, AI is created in this method. The machine learning method is used in this strategy to achieve AI.
Describe a rule-based strategy.
A system that uses rules created by humans to store, sort, and manipulate data is known as a rule-based system. It imitates human intelligence in accomplishing this. A collection of information or a data source, as well as a slew of guidelines for modifying that data, are necessary for regulation systems to operate.
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Explain effective demand in your
own words
Answers
Explanation:
Effective demand refers to a situation in which equilibrium output is determined solely by the level of aggregate demand. This is because of the assumption that supply is perfectly elastic. If there exists any difference between AD and AS, the equilibrium output will be determined only by AD.
The free cash flows (in millions) shown below are forecast by Simmons Inc. If the weighted average cost of capital is 13% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2 to Year 3, what is the Year 0 value of operations, in millions?
Year: 1 2 3 Free cash flow: −$20 $42 $45
$680
$648
$617
$586
$714
Answers
Answer:
If the weighted average cost of capital is 13% and the free cash flows are expected to continue growing at the same rate after Year 3 as from Year 2 to Year 3, ...
Explanation:
the managers now face the financing decision. the project has initial costs of $2,000,000, which must be raised by issuing financial securities. they can raise the entire amount by selling 40,000 shares of stock at $50 per share. they can raise $800,000 via bonds, and the remaining $1,200,000 by selling 24,000 shares of stock. the bonds would require annual interest payments of $80,000. what is the eps of the preferred capital structure?
Answers
The earnings per share of the preferred capital structure is $16.67.
What is Earnings per share?Earnings per share is the monetary value of a company's earnings per outstanding share of common stock. It is an important indicator of corporate profitability and is commonly used to price stocks.
Given Expected Net Operating Income (NOI) = $4,80,000
Net Income attributable to share holders = Expected Net Operating Income (NOI) = $4,80,000
Outstanding shares = 40,000 shares
EPS = Net Income attributable to share holders/ Outstanding shares
= 4,80,000/40,000
= $12 per share
Calculation of EPS if 24,000 shares and $ 8,00,000 bonds are issued:
Given Expected Net Operating Income (NOI) = $4,80,000
Outstanding shares = 24,000 shares
Annual Interest on bonds = $80,000
Net Income attributable to share holders = Expected Net Operating Income (NOI) - Annual Interest on Bonds
= 480,000 - 80,000
= $400,000
EPS = Net Income attributable to share holders/ Outstanding shares
= 4,00,000/24,000
= $16.67 per share
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Complete question
Natural Bodyworks has decided to produce the Ab Stretcher and forecasts sales of 4,000 units, with an expected NOI of $480,000
the managers now face the financing decision. the project has initial costs of $2,000,000, which must be raised by issuing financial securities. they can raise the entire amount by selling 40,000 shares of stock at $50 per share. they can raise $800,000 via bonds, and the remaining $1,200,000 by selling 24,000 shares of stock. the bonds would require annual interest payments of $80,000. what is the eps of the preferred capital structure?
you hurt your back at work by falling of a ladder and are out of work for a month
Answers
Answer:
Uh, of course I'm not at work! I brutally broke my back. Ouch.
Governments often set price floors in an effort to protect:
A producers from high market prices
B producers from low market prices
C consumers from low market prices
D consumers from high market prices
Answers
Answer:
B) Producers from low market prices
Explanation:
Price floors are usually used in order to ensure that the market price of a commodity does not fall below a level that would threaten the financial existence of producers of the commodity.
Answer:
B) Producers from low market prices
Could someone help me please?
Answers
Answer: Yes Definitely. But i need the question
Explanation:
you can get the solution on Brainly straightly.
what comes closest to the value today of a stock that just paid a dividend of $1 and expects to grow that dividend by 10% per year in year 1 and year 2, and then grow each dividend beginning in year 3 by 2% forever if the required rate of return is 5%?
Answers
The value of the stock today is the present value of all future dividend payments. This means that the stock price today is equal to the sum of the discounted value of each dividend payment.
The formula for discounting each dividend payment is the dividend amount divided by one plus the required rate of return to the power of the number of years until the dividend payment. Using this formula, the value of the stock today would be $17.79.
This is because the first two dividends of $1 each discounted at 5% would be worth $0.95 and $0.90, respectively. The third dividend discounted at 5% is worth $0.86 and each subsequent dividend is discounted by the same amount. The sum of all these discounted dividends is $17.79, which is the value of the stock today.
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KNOWLEDGE CHECK A rise in which of the following inputs will increase an absolute valuation? o Beta o Earnings estimates o Number of shares o 10-year government bond yield
Answers
A rise in earning estimate will lead to an increase of absolute valuation.
What is an absolute valuation?An absolute value refers to the method of business valuation which uses a discounted cash flow analysis to determine a company's financial worth. With this value, an investors can determine if a stock is currently under or overvalued by comparing what a company's share price should be given its absolute value to the stock's current price.
An earnings estimate means an analyst's forecast for a public company's future quarterly or annual earnings per share (EPS). Large share of the investors relies on earnings estimates to gauge a company's performance and make investment decisions about it.
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to get an important bill passed in the house, a provision is added that allocates $500 million to study the impact of global climate change on manatees in florida. this is an example of responses the free rider problem the free rider problem pork barrel legislation pork barrel legislation an issue network an issue network gerrymandering
Answers
The provision that allocates $500 million to study the impact of global climate change on manatees in Florida can be considered an example of pork barrel legislation.
A provision, in general, refers to a condition, requirement, or stipulation included within a legal document, contract, or law. It serves as a specific clause or section that outlines certain obligations, rights, restrictions, or guidelines relevant to the context of the document or law. Provisions are designed to establish clarity, define responsibilities, and address potential contingencies or issues that may arise.
Provisions can cover a wide range of topics, including financial matters, performance requirements, dispute resolution mechanisms, termination conditions, confidentiality agreements, and more. They act as safeguards to protect the interests of involved parties and ensure compliance with established rules and regulations.
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Why is important for all business majors to study strategic management since most students will never become a chief executive officer nor even a top manager in a large company
Answers
Answer:
it is good that all business majors study this regardless, as strategic management takes place at several/multiple levels in any organization they may find themselves
Explanation:
Even though most students may never become CEOs or branch manager or department heads of departments, it is good they study strategic management as strategic management provides directions through the development of plans on how to achieve an organizations set goals.
Several other levels in an organization may require the knowledge of strategic management. These employees in these other job roles could be asked to complete strategic plans for their various departments. Also at all levels, employees are asked to make contributions towards their organizations strategic plan. This makes it important for all business majors to study.
Three types of lobbying?
Answers
Which group is legally responsible for implementing
protection and controls that ensure your workplace
meets safety standards?
A. Employers
B. Unions
C. Employees
D. Government
Answers
Answer:
A
Explanation:
Answer:
It SHOULD be employers but i may be wrong... if i'm not CAN I PLES HAVE BRAINLYIEST
Explanation:
Also, if i'm right there is no need to thank me unless you want too
After one month of the project you realize that one of your scrum teams has the tendency to overestimate their velocity, which results in their needing help to complete their requirement points. What do you do
Answers
Answer:
Work with them on their next velocity estimate.
Explanation:
Please help!! Unit test question 50 pnts!!!! Kyle is applying to be a police officer. In his interview, he describes that he loves watching the news and following current cases. He explains that he is honest, caring, compassionate, and has a very deep sense of integrity. He then explains that he is in excellent physical condition and trains regularly in hand-to-hand combat. He tells them that he is a member of the Police Explorers, a group that trains and rides along with the local police. He also tells them that he graduated at the top of his class and was a state finalist on the mock trial team. Which table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences? A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; physical condition and training; following cases on the news; honest, caring, compassionate, has integrity; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers; physical condition and training; following cases on the news. A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; physical condition and training; grades and mock trial finalist; honest, caring, compassionate, has integrity; Explorers.
Answers
The table is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers. The correct option is (B).
What do you mean by skills, interest?Passion (or Interests): Do I enjoy engaging in this activity? something that you enjoy doing? Is this an activity I have the talent (or skills) for?
There are three categories of skills: self-management, functional, and specialised knowledge. Functional skills are innate aptitudes or capabilities that are refined through practice and education.
Therefore, the table accurately lists Kyle’s personal interests, skills, achievements, values, and experiences is A 2-column table with 5 rows. Column 1 has entries Personal interests, Skills, Achievements, Values, Experiences. Column 2 has entries following cases on the news; honest, caring, compassionate, has integrity; grades and mock trial finalist; physical condition and training; Explorers.
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A family's financial plan is likely to be less complex than an
individual's.
True
False
Answers
Answer:
False
Explanation:
A family's financial plan inolves more than a single individual.
If government revenues in 2018 were $3.1 trillion and government outlays, including interest on debt, were $2.8 trillion, the federal O budget deficit was $300 billion debt was unaffected in that year, debt increased $300 billion. Odebt decreased $300 billion budget was balanced,
Answers
If government revenues in 2018 were $3.1 trillion and government outlays, including interest on debt, were $2.8 trillion, the federal budget deficit was $300 billion.
The federal budget deficit is calculated by subtracting government revenues from government outlays. In this case, the calculation would be $2.8 trillion (government outlays) - $3.1 trillion (government revenues) = -$300 billion. A negative value indicates a budget deficit, which means that the government spent more than it collected in revenue.
Debt being unaffected means that the overall debt remained the same in that year. The deficit represents the difference between spending and revenue in a specific fiscal year, whereas the debt refers to the cumulative amount of borrowing over time. In this scenario, if the deficit was $300 billion and the debt remained unaffected, it suggests that the government had to borrow $300 billion to cover the budget shortfall, but the overall debt did not increase or decrease.
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What accounting book should a merchandising business use to show a payment and transaction history for each customer who bought items
with credit?
When a company has customers who buy units of merchandise on credit, its accountant will post entries in the ____
Answers
Answer:
Accounts receivable subsidiary ledger.
Explanation:
Answer: accounts receivable subsidiary ledger
Explanation:Specialized journals are useful when posting entries for frequent business transactions. For example, a cash receipt journal captures cash transactions. This is different from an accounts receivable subsidiary ledger, which shows a payment and transaction history for each customer who bought items with credit
When trying to decide which college has the lowest cost of attendance, which is the most important for students to consider?
Answers
The most important thing that students must take into the consideration while deciding about the cost of attendance is net price.
What is Attendance?Attendance refers to the act of being present in a certain event, program or assembly every day. For instance, attendance in the meeting is compulsory for the members of the boards.
Net price refers to the amount which comes after deducing all kinds of the expenses from the product or service. When determining which institution offers the most affordable tuition, net price must be considered.
Therefore, it can be concluded that net price is an important consideration.
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what are the advantages and disadvantages of common stocks
Answers
Advantages:
You can invest in companies with limited liability. Common stocks offer a higher earning potential. You can easily purchase common stock on virtually any trading platform. Common stocks can provide dividends. You’ll get to take advantage of a growing economy.Disadvantages:
You are the last person to get paid during a company liquidation. You don’t have much control over your investment. Companies are not required to pay dividends on common stocks. It can take time to generate significant gains. You will face high levels of professional competition when investing in common stocks.Hopes this helps :)
Create a comic strip, poster, or other visual art presentation that illustrates the forces of supply and demand, just as the dance routine in Supply and Dance, Man illustrated it using
the example of selling canes. Invent a fictitious business and illustrate how the business's successes shift supply and demand. Identify the supply and demand factors at play.
Answers
Answer:
demand is equal to 1000 and factors is equal to 5000