Journalize the entry to record the following transaction: XYZ company issued 400,000 shares of $9 par common
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Question:
- Journalize the entry to record the following transaction: XYZ company issued 400,000 shares of $9 par common stock at $13, receiving cash.
- Compute the anticipated break-even sales in units for the Following: BBB Company anticipates a unit selling price of $150, a unit variable cost of $110, and fixed costs of $800,000.
- Prepare the Cash Flows from (used for) Operating Activities section of the Statement of cash flows, using the Indirect Method:
- Decrease in Accounts Receivable...............$15,000
- Gain on disposal of equipment...................$10,000
- Depreciation Expense...................................$24,000
- Net Income....................................................$165,000
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