Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Quation 6 Hot complete Book Print Mar 0.00 out of 1.00 TPorn Change in Stockholders' Equity Nikon Corporation issued 19,000 shares of 50 50 par

image text in transcribed
image text in transcribed
image text in transcribed
Quation 6 Hot complete Book Print Mar 0.00 out of 1.00 TPorn Change in Stockholders' Equity Nikon Corporation issued 19,000 shares of 50 50 par value common stock during the year for 138 each Nikon also repurchased treasury stock for 528.500. Net income for the year was $225,000. The company also paid cash dividends of 547,500 What was the total change in Nikon's stockholders' equity for the year? O Chech My Subscriptions Jorge Gore Os 10 hot complete Marked out of 4.00 Fag wuestion Accounts Receivable and Inventory Ratios Favor Company, whose current assets at December 31 are shown below, had net sales for the year of $524750 and cost of goods sold of 5347.900. At the beginning of the year, accounts receivable (net) were 5123,000 and inventory was $165,700. Cash 530,000 Short term wivestments 19.000 Accounts receivable ineb 129.000 Inventory 178.500 Prepaid ees 9.900 Current assets 143440 Instructions Round turnover ratios to two decimal places Use Younded turnover ratios to compute respective days ratos Round days' ratios to the nearest whole number day a. What is the company's accounts recevable turnover? 0 b. What is the company's average collection period days 0 c. What is the company's inventory turnover? 0 d. What is the company's days sales in inventory? days Question 4 Not complete Mark 6.00 out of 9.00 P Flak question Issuance of Common Stock Smith & Sons, Inc., is authorized to issue one million shares of 1 par value common stock. The company actually sells 600,000 shares at $12 per share. Prepare the journal entry to record the issuance of the 600,000 shares General Journal Description Debit Credit Cash OX Common stock - 51 par value 0 Additional paid in capital in excess of par value 0 OX 0.X Check

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

Financial Accounting For Undergraduates

Authors: Wallace

4th Edition

1618533088, 9781618533081

More Books

Students also viewed these Accounting questions

Question

=+b) Is this model appropriate for this series? Explain.

Answered: 1 week ago