Prepare journal entries using the residual value method

Assignment Help Accounting Basics
Reference no: EM132852524

Problem -

1. On March 31, 2019- Spiderman Developments Inc. issued 20,000 packages of 1 preferred share and 1 common share for $120 each. The market value of the preferred shares was $17, and the market value of the common shares was $110. Prepare journal entries using the relative value method record the issuance of the shares.

2. On May 31, 2019- Flash Investments Inc. issued 30,000 packages of 1 preferred share and 1 common share for $70 each. The market value of the preferred shares was unknown, and the market value of the common shares was $65. Prepare journal entries using the residual value method record the issuance of the shares.

Reference no: EM132852524

Questions Cloud

What is the probability of the trainee class : The qualified applicant pool for four management trainee positions consists of eight women and six men.
What is the amortization of the patent rights : Bill Gates acquired patent rights on November 12, 2017 on his Microsoft software that costs $3,600,000. What is the amortization of the patent rights
Identified risks and threats : Describe briefly each of the identified risks/threats. Evaluate the security controls that mitigate each of the risks/threats identified.
What is the p-value for the test statistic : What is the p-value for the test statistic used in the hypothesis test in question b?
Prepare journal entries using the residual value method : The market value of the common shares was $65. Prepare journal entries using the residual value method record the issuance of the shares
Unit 38 Personal Professional Development Assignment : Unit 38 Personal Professional Development Assignment Help and Solution, Higher National Certificate/Diploma in Construction and the Built Environment Assessment
What is the probability of randomly selecting a score : For a normal distribution with µ = 200 and s = 50, find the following values:
Find the value of the survival function of x : A continuous random variable X has the probability density function fX X given by f(x) = A - x/50 , 0 = x = 10.
ITC571 Emerging Technologies and Innovation Assignment : ITC571 Emerging Technologies and Innovation Assignment Help and Solution - Charles Sturt University, Australia - Assessment Writing Service

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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