FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

60. Quality Cleaning Corp. issued 50 no-parvalue common shares for land with a market value of $4,000. Dillon had originally issued common shares at $100

image text in transcribed
image text in transcribed
60. Quality Cleaning Corp. issued 50 no-parvalue common shares for land with a market value of $4,000. Dillon had originally issued common shares at $100 two years ago, but there is currently no market value available for their shares. The amount of contributed capital arising from this transaction is: A. $100. B.$600. 0. $1 .000. g $4,000. E. $6,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 2018

Payroll Accounting 2018

Authors: Bernard J. Bieg, Judith Toland

28th edition

1337291056, 978-1337291057, 1337291137, 9781337291132, 9781337516686 , 978-1337291040

More Books

Students also viewed these Accounting questions

Question

★★★★★
Donald E. Petersen, chairman of the board of Ford Motor Company, remarked, "If we aren't customer-driven, our cars won't be either." Explain how this statement reflects the marketing concept.

Answered: 1 week ago

Question

★★★★★
34. Translate the following C program to Pep/9 assembly language. #include int main () { int guess; printf("Pick a number 0..3: "); scanf("%d", &guess); switch (guess) { case 0: printf("Not close");...

Answered: 1 week ago

Question

★★★★★
Together with some other students, visit several pubs and/or restaurants and observe the barkeepers and/or waiters. Dont visit these workplaces as a group, but use a timetable in which you specify...

Answered: 1 week ago

Question

★★★★★
Using the following data from Moontrust Corporations financial statements, compute the receivables turnover and the days sales uncollected. (Round to one decimal place or to the nearest whole day.)...

Answered: 1 week ago

Question

★★★★★
Bent Tree Golf Club purchased a new fleet of golf carts for $92,900. They are expected to have a 10 year useful life and a trade-in value of $10,000. Using the 150% declining-balance method of...

Answered: 1 week ago

Question

★★★★★
The Electret microphone AUM-5047L we will use can be modeled as a Norton current source, with DC current IMIC as shown below. We need to set up its DC operating point correctly, by an appropriate...

Answered: 1 week ago

Question

★★★★★
Consider an agent with a wealth w who has to decide how to invest it. She has two choices: to keep in in cash, in which case it will neither grow nor shrink, or to invest it in a startup. There is a...

Answered: 1 week ago

Question

★★★★★
28. Yakuza Company issued 2,500 share of P25 par value preference shares with detachable warrants. The security package sells for P105. Each warrant enables the holder to purchase two shares of P10...

Answered: 1 week ago

Question

★★★★★
Good Vibes Manufacturing is a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the balance sheet amounts show $2.5 million of inventory...

Answered: 1 week ago

Question

★★★★★
A random sample of 45 Burger King Whoppers found a sample mean weight of 120g and a sample standard deviation of 15g. Find the 90% confidence interval of the true mean weight of a Whopper. Write your...

Answered: 1 week ago

Question

★★★★★
Ignoring GST, which of the following entries correctly records the purchase of land for $300 000 financed by a $100 000 cash deposit with the balance payable via a 20-year, 6% loan? Select one: a. DR...

Answered: 1 week ago

Question

★★★★★
Sizwe conditioners a manufacturing firm based in Gauteng makes three different types of air conditioners: the ceiling type, the cassette type and the wall mounted type. Weekly sales of each type are...

Answered: 1 week ago

Question

★★★★★
9. (Mortgage + EAIR + processing fee) Your local bank has offered you a 20- year, $100,000 mortgage. The bank is charging 1.5 points, with "proc-essing" costs of $750; both points and processing...

Answered: 1 week ago

Question

★★★★★
1. To provide insight into how setting an overly narrow boundary can give a mes-sage a specific meaning, while setting a wider boundary can give a completely different meaning.

Answered: 1 week ago

Question

★★★★★
12. What is meant by the statement, often we do not know what the real problem is until we look at its possible consequences or solutions?.

Answered: 1 week ago

Question

★★★★★
9. What is meant by the statements: a) Experiences are different from what is experienced. b) The description is different from what is described.

Answered: 1 week ago

Previous Question Next Question