Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 16, 2024

Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for 29.50 per share. Which of the following statements is TRUE? a. Retained Earnings account

Coolsys Corporation issued 30,000 shares of no-par value ordinary shares for 29.50 per share. Which of the following statements is TRUE?

a. Retained Earnings account will increase by 855,000.

b. Share PremiumOrdinary account will increase by 345,000.

c. The Cash account will increase by 30,000.

d. Share CapitalOrdinary account will increase by 885,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

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

Step: 2

Step: 3

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

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

2nd edition

978-0078025518

Students also viewed these Accounting questions

Question

4.2 How do the different approaches to competencies help us in describing and assessing performance? What do they give us that assessing people against objectives does not?

Answered: 1 week ago

Question

★★★★★

Marsh, CPA, is the independent auditor for Compufast Corporation (Compufast), which sells personal computers, peripheral equipment (printers, data storage), and a wide variety of programs for...

Answered: 1 week ago

Question

★★★★★

In the Month of March, Chester received orders of 137 units at a price of $15.00 for their product Cedar. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester...

Answered: 1 week ago

Question

★★★★★

Calculate the credit given for the partial payment and the net amount due on the invoice (in $). Amount of Terms of Partial Payment Invoice Sale $8,303.00 2/10, n/30 $2,700 Credit for Partial Payment...

Answered: 1 week ago

Question

★★★★★

Refer to the "Plotting Data" lesson found in the Spring Force chapter of Moodle and plot the "Spring Forces (Hooke's Law)" data on the following graph. Make sure you refer to the table so you graph...

Answered: 1 week ago

Question

★★★★★

Describe Briefly How did Baosteel Europe overcome the challenges of managing a subsidiary? Refrences

Answered: 1 week ago

Question

★★★★★

Identify, as part of a review, an administrative system, to determine if there is a need to make changes or modifications to this. Performa consultation with a small group of system users and discuss...

Answered: 1 week ago

Question

★★★★★

X consigned 100 packets of cosmetics each costing Rs. 300 to his agent at Mumbai. He paid Rs. 500 towards freight and insurance. 15 packets were destroyed on the way. Consignee took delivery of the...

Answered: 1 week ago

Question

★★★★★

For the system transfer function determine the percent peak overshoot, the rise time, and the settling time. It could be done with MATLAB graphics. G(s) : = 48 10s2+14s+16

Answered: 1 week ago

Previous Question Next Question