Reference no: EM132962020
Oasis Inc sold and issued 1,000 preferred shares at $12 cash per share and 5,000 common shares at $10 cash per share
Problem 1: What is the impact of this transaction on the financial statement elements?
Option 1: $62,000 increase in current assets; $62,000 increase in retained earnings
Option 2: $62,000 increase in current assets; $62,000 increase in contributed surplus
Option 3: $62,000 decrease in retained earnings; $12,000 increase in contributed capital; $50,000 increase in contributed capital
Option 4: $62,000 decrease in retained earnings; $50,000 increase in contributed capital; $12,000 increase in contributed capital
Option 5: $62,000 increase in current assets; $62,000 increase in contributed capital
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Find how much bond interest would the company record
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How much bond interest expense would the company record
: The market interest rate is 7% and interest is paid annually on December 31. How much bond interest expense would the company record on the first interest date?
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How much fixed manufacturing overhead cost was deferred
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What is the net cash from operating activities
: Decrease in tax payable from the prior period of 13,000 and an increase in cash from the prior period of 21,300. What is the net cash from operating activities?
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What is the impact of transaction on the financial statement
: What is the impact of transaction on the financial statement elements? Oasis Inc sold and issued 1,000 preferred shares at $12 cash per share
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How much should be allocated to Partner Samson
: If the partnership had net income of P66,000, how much should be allocated to Partner Samson, assuming that the provisions of the profit and loss agreement
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What is the financial advantage or disadvantage
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How would fcl record the transaction
: How would FCL record this transaction? FinCore Limited ("FCL") was recently incorporated and did not have excess cash on hand.
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Prepare consolidation journal entries for year ending june
: Gotham Ltd purchased 100% of the issued shares, Prepare consolidation/elimination journal entries for the year ending 30 June 2019 assuming a tax rate of 30%.
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