Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 07, 2021

Trust One Corporation issued 10,000 shares of no-par common stock, $3 stated value in exchange for $45,000. The entry to record the issuance includes a:

Step by Step Solution

★★★★★

3.42 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

Trust One Corporation issued 10000 shar... 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

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

Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

23rd Edition

978-0324662962

More Books

Students also viewed these Accounting questions

Question

CORPORATE EQUITY TRANSACTIONS 1. Issued 5,000 shares of no-par common stock. The market price of the stock is $12 per share. 2. Issued 2,000 shares of 5%, $100 par, cumulative preferred stock for...

Answered: 1 week ago

Question

★★★★★

The entry to record the issuance of common stock at a price above par includes a debit to a). Organizational Expenses b). Common Stock c). Cash d). Paid-In Capital in Excess of ParCommon Stock

Answered: 1 week ago

Question

★★★★★

Chronicle Ltd produces stationery and journals. One of their products is the Daily Planner. The company's operating budget for the month of September 20X2 included the following data for one Daily...

Answered: 1 week ago

Question

★★★★★

Apply KCL at the supernode (circled in green), i.e., write i=0 at the supernode (you don't need to solve the equation, but must label the node voltages) 2023 20 V 10 A V2 302 www + Vy - 692 www VI 4 ...

Answered: 1 week ago

Question

★★★★★

a. Prepare the comparative balance sheet in narrative format as at 31 December 2013 and 31 December 2012. b. Comment on the financial position of the entity in 2013 relative to 2012. For this...

Answered: 1 week ago

Question

★★★★★

What are the potential benefits and problems with executive teams?

Answered: 1 week ago

Question

★★★★★

Did regularities emerge from the data such that addition of new information would not change the results?

Answered: 1 week ago

Question

★★★★★

The journal of Ward Technology Solutions, Inc., includes the following entries for May, 2012: May 1 The business received cash of $75,000 and issued common stock. 2 Purchased supplies of $500 on...

Answered: 1 week ago

Question

★★★★★

ILO 4-3,4-4] 4-47 Application of Overhead The Meyers CPA firm has the following overhead budget for the year Overhead Indirect materials Indirect labor Depreciation-Building Depreciation-Furniture...

Answered: 1 week ago

Question

★★★★★

The smooth rod of mass M rests inside the glass. Determine the reactions on the rod. Given: M = 20 gm a = 75 mm b = 200 mm = 40 deg g = 9.81m/s2 b.

Answered: 1 week ago

Question

★★★★★

Metlock Trading uses a perpetual inventory system and the earnings approach to recognize revenue. The company offers credit terms to select customer. The following are transactions of Metlock Trading...

Answered: 1 week ago

Question

★★★★★

Q. A. If the deflection of the cantilever member shown in Figure E at x = 4.5 ft must be limited to 1.336", find the diameter of the member required. Assume na 1.25. E = 30 Mpsi. Q' 3 kip/st

Answered: 1 week ago

Question

★★★★★

Suppose a survey conducted in 2012 asked a group of adults from a certain country whether they drink seltzer water. Of the 3,065 people who responded, 23.1% said they drink seltzer water. Complete...

Answered: 1 week ago

Question

★★★★★

Your certified industrial hygienist (CIH) has found that a part of your workforce is being exposed to chromium (VI), and you have begun testing these employees at the end of the work shift on...

Answered: 1 week ago

Question

★★★★★

TASK #3 Determine the veritcal stress increase at point A. Line load 110 kN/m Line load 440 kN/m. 6 m -3 m A 4 m

Answered: 1 week ago

Question

★★★★★

2. Due to a weak connection, there is a break in the circuit (shown below) between points a and b. If R1 = 5.23 0, R2 = 2.29 0, and R3 = 16.2 0, and the two batteries &1 and &2 have voltages of 22.0...

Answered: 1 week ago

Question

★★★★★

Please ignore question # 4 1. On December 31, 2018, Relax Company issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on December 31, 2048, Interest is payable annually...

Answered: 1 week ago

Question

★★★★★

Highland Theatre is owned by Finnean Ferguson. At June 30, 2014, the ledger showed the following: Cash, $6,000; Land, $100,000; Buildings, $80,000; Equipment, $25,000; Accounts Payable, $5,000;...

Answered: 1 week ago

Question

★★★★★

At the end of the current year, Accounts Receivable has a balance of $1,400,000; Allowance for Doubtful Accounts has a debit balance of $2,250; and net sales for the year total $9,500,000. Using the...

Answered: 1 week ago

Question

★★★★★

On February 7, Snap Repair Service extended an offer of $75,000 for land that had been priced for sale at $85,000. On February 21, Snap Repair Service accepted the sellers counteroffer of $81,000. On...

Answered: 1 week ago

Question

★★★★★

Frazee Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order below. Construct a chart of accounts, assigning account numbers and arranging the accounts in...

Answered: 1 week ago

Question

★★★★★

The following data were collected during a study of consumer buying patterns. a. Plot the data as a scatter plot. b. Obtain a linear regression line for the data. (You may use Excels =s lope(Range Y,...

Answered: 1 week ago

Question

★★★★★

Two independent set of forecasts based on judgment and experience have been prepared each month for tire past 10 months. The forecasts and actual demand are as follows: a. Calculate tire MSE, MAD,...

Answered: 1 week ago

Question

★★★★★

A farming cooperative s manager wants to forecast quarter grain shipments for each quarter of next year (Year 6), based on the data shown below (quantities are in metric tonnes): a. Determine...

Answered: 1 week ago

Previous Question Next Question