Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 17, 2024

Current Attempt in Progress Waterway Company issued 4 7 0 0 shares of its $ 5 par value common stock in payment of its attorney's

Current Attempt in Progress

Waterway Company issued

4700

shares of its $

5

par value common stock in payment of its attorney's bill of $

82000 .

The bill wa services performed in helping the company incorporate. Waterway should record this transaction by debiting

Organization Expense for $

82000 .

Organization Expense for $

23500 .

Legal Expense for $

82000 .

Legal Expense for $

23500 .

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Sound Investing, Chapter 23 - Internal Control

Authors: Kate Mooney

1st Edition

0071719458, 9780071719452

More Books

Students also viewed these Accounting questions

Question

★★★★★

A cost-benefit analysis of a new irrigation project indicates that the net benefits (B C) of the project in each of the first four years will be $2 million. Thereafter, the project will yield...

Answered: 1 week ago

Question

★★★★★

1 What do we learn about cash flow from the information in the table? After deducting interest, tax and dividend payments, 467 million of operating cash flow was available to fund our capital...

Answered: 1 week ago

Question

★★★★★

Explain the major components of Elliss rational emotive behavior therapy.

Answered: 1 week ago

Question

★★★★★

The following questions address issues concerning internal control. Ford 10-K and Toyota 20-F a. Both Ford and Toyota management comment on the fact that internal control over financial reporting has...

Answered: 1 week ago

Question

★★★★★

During the current year, Brewer Company acquired all of the outstanding common stock of Miller Inc. paying $12,000,000 cash. The book values and fair values of Miller's assets and liabilities...

Answered: 1 week ago

Question

★★★★★

Question 6 The table below shows demand and cost information for a natural monopoly Use the information in the table to answer the questions below: Price in $ Quantity Total Revenue in $ Marginal...

Answered: 1 week ago

Question

★★★★★

Consider this game - you roll a fair die, and if it falls 1 through 5, you win that many dollars (i.e. the number you rolled), but if it is six, you lose 14 dollars. Would you play the game? More...

Answered: 1 week ago

Question

★★★★★

Martin Ho owns the following farm properties: Land The ACB is $435,000 and the FMV $584,000. Barn The barn has a UCC balance of $140,000, a capital cost of $165,000, and a FMV of $175,000. The...

Answered: 1 week ago

Question

★★★★★

The Johnstown Axle Company is working on creating its Finished Goods Inventory Budget. They anticipate the following: Manufacturing Overhead and Direct Labor are allocated per hour and Direct...

Answered: 1 week ago

Question

★★★★★

CASE STUDY 1 Read the case below and answer the questions that follow: [10] John applied for the post of supervisor at Amazing Textiles (Pty) Ltd, a textile factory. At his final interview he made it...

Answered: 1 week ago

Question

★★★★★

Case study In the highly competitive world of music streaming, Pandora chose to maintain a very employee centric model of work. The organization was proud of several HR initiatives which it thought...

Answered: 1 week ago

Question

★★★★★

3.58 What is the conditional probability of regular, given high income? Table 3.10 Probabilities for Television Viewing and Income VIEWING FREQUENCY Regular Occasional Never Totals HIGH INCOME MIDDLE...

Answered: 1 week ago

Question

★★★★★

3.57 What is the conditional probability of low income, given occasional? Table 3.10 Probabilities for Television Viewing and Income VIEWING FREQUENCY Regular Occasional Never Totals HIGH INCOME...

Answered: 1 week ago

Question

★★★★★

3.56 What is the conditional probability of high income, given never? Table 3.10 Probabilities for Television Viewing and Income VIEWING FREQUENCY Regular Occasional Never Totals HIGH INCOME MIDDLE...

Answered: 1 week ago

Previous Question Next Question