Determine the dollar amounts that towson will report on

Assignment Help Accounting Basics
Reference no: EM132716860

Question: Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 60,000 shares of $10 par value common stock at a price of $45 cash per share. On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Towson will report on its year end Balance Sheet for Paid in Capital Common Stock in Excess to par.

Reference no: EM132716860

Questions Cloud

What is the difference between deviance and crime : 1) What is the difference between deviance and crime? 2) In Canada, what are the two surveys used to collect crime statistics?
Concepts behind the adopter categories : Discuss in detail concepts behind the adopter categories including: Innovators, Early Adopters, Early Majority, Late Majority
What is metro weighted score for price : What is Gem State's weighted score for QUALITY? (two decimal places.) What is Metro's weighted score for PRICE? (two decimal places.)
Importance of gender-inclusive language : Watch the video links below then understand the importance of gender-inclusive language.
Determine the dollar amounts that towson will report on : Towson Corp., was organized on January 2, 2018. During the first year of operation, Towson issued 60,000 shares of $10 par value common stock at a price.
What roles does each family member play in the society : What roles does each family member play in the society? Explain each role briefly.
Aspects of the dairy industry in canada : From the environmental, economic, social, animal welfare, and nutrition and food processing aspects of the dairy industry in Canada, which of these aspects
Explain the relationship between norms and social control : Select 1 theory (functionalism, conflict theory or symbolic interactionism) to analyze US crime and deviance.
Define the concept of social stratification : Define the concept of social stratification and explain in detail at least 5 ways that social stratification impacts people's lives in the United States.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the amount of cost of goods sold using fifo, lifo

Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available: Determine the amount of cost of goods sold using:

  Discuss a great tool for tax professionals

The information contained on the IRS site is very interesting and useful. Not only it is a great tool for tax professionals

  What is the purpose of the nces

What are the total revenues per student. and what is the primary source of revenue? What percentage of the total revenues is provided by the primary source

  On january 1 of the current reporting year coda companys

on january 1 of the current reporting year coda companys projected benefit obligation was 30 million. during the year

  During the month fixed cost were 19316 and variable cost

in the month of march new day spa services 565 clients at an average price of 110. during the month fixed cost were

  Adjusting the amount of the supplies inventory

(Treatment of inventories-purchases method) The City of Nickston uses the purchases method to account for the acquisition of supplies by its General Fund.

  Summarize the important changes and explanations

For the second part of the assignment, you will create a presentation using PowerPoint (or other equivalent software) summarizing the important changes.

  Impact on the financial statements of missing

What is the impact on the financial statements of missing a step when completing the accounting cycle? Is a mistake on the income statement more damaging than a mistake on the balance sheet?

  Describe the types of business organisations in oman

Describe the types of business organisations in Oman and Understand the impact of variety of environmental factors upon businesses, especially in the context

  What sales price should be recorded

Using the gross method of recording sales, what sales price should be recorded when an item with an $1,100 list price is sold with a 15% trade discount

  How much of his social security robert include in income

How much of his social security must Robert include in gross income in 2015? Show your work or no credit will be given

  Johnson inc owns control over kaspar inc johnson reports

johnson inc. owns control over kaspar inc johnson reports sales of 400000 during 2013 while kaspar reports 250000.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd