Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary share. On April 30,...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary share. On April 30, 20X6, Loiselle issued 35,000 shares at $12 per share. Loiselle's journal entry to record these facts should include a A. credit to ordinary shares for $70,000. B. credit to Paid-in Capital in Excess of Par for $420,000. C. debit to ordinary shares for $420,000 D. both a and c. Loiselle Company is authorized to issue 40,000 shares of $2 par ordinaary share. On April 30, 20X6, Loiselle issued 35,000 shares at $12 per share. Loiselle's journal entry to record these facts should include a A. credit to ordinary shares for $70,000. B. credit to Paid-in Capital in Excess of Par for $420,000. C. debit to ordinary shares for $420,000 D. both a and c.
Expert Answer:
Answer rating: 100% (QA)
the journal entry to record issue of shares is issu... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
Students also viewed these accounting questions
-
Consider a queueing system with two servers, where the customers arrive from two different sources. From source 1, the customers always arrive 2 at a time, where the time between consecutive arrivals...
-
Consider a queueing system with two types of customers. Type 1 customers arrive according to a Poisson process with a mean rate of 5 per hour. Type 2 customers also arrive according to a Poisson...
-
View the second demonstration example (Simulating a Queueing System with Priorities) in the simulation area of your OR Tutor. Then enter this same problem into the interactive procedure for...
-
Gooran, Inc., has current assets of $240 million; property, plant, and equipment of $380 million; and other assets totaling $120 million. Current liabilities are $170 million and long-term...
-
Which federal law enforcement agencies investigate domestic Internet crimes?
-
Which of the following is a good example of macroeconomics? a. How a specific company maximizes its production and capacity so it can better compete in its industry b. How an increase in the...
-
Suppose you started up your own landscaping business. A customer paid you $120 in advance to mow his or her lawn while he or she was on vacation. You performed landscaping services for a local...
-
Silver Ridge Plumbing's year end is October 31. The company's trial balance prior to adjustments follows: Additional information: 1. The equipment has an expected useful life of ten years. The...
-
What would be the 3 standard deviation lower control limit? 15 Interpret the following control chart and determine what action, if any, is appropriate. 6 R Chart 5 4 Diameter 3 2 1 www 0 5 10 Time R...
-
What is the difference between an information system and a computer application?
-
ABC mfg co sells widgets. If unit selling price is $25.00, unit variable cost is $23.00 and Total Fixed Cost is $100,000, what is $BEP?
-
When using generics, what happens if I omit the type argument in either the declaration or the constructor call? \begin{tabular}{llll} Stack stack & \(=\) new Stack ()\(;\) & & // unsafe \\ Stack &...
-
I want to use an array representation for a generic stack, but code like the following will not compile. What is the problem? \[\text { private Item[] item = new Item[capacity]; }\]
-
Suppose that the following 31 keys appear (in some order) in a BST of height 4: Draw the top three nodes of the tree (the root and its two children). 10 15 18 21 23 24 30 31 38 41 42 45 50 55 59 60...
-
Each of the four Java functions given here returns a string of length \(n\) whose characters are all \(x\). Determine the order of growth of the running time of each function. Recall that...
-
Draw all the different BSTs that can represent the sequence of keys best of it the time was
-
Applying Differential Analysis to Alternative Profit Scenarios Epson produces color cartridges for inkjet printers. Suppose cartridges are sold to mail-order distributors for $5.20 each. Total fixed...
-
H.J. Heinzs annual dividends were as follows: 1990 ..............$0.540 1991.............. 0.620 1992 .............. 0.700 1993.............. 0.780 1994 .............. 0.860 1995 .............. 0.940...
-
Consider a parallel system consisting of two independent components whose time to failure distributions are exponential with parameters μ1 and μ2, respectively...
-
Reconsider the example used to illustrate the deterministic periodic-review model in Sec. 18.4. Suppose that the following single change is made in the example. The cost of producing each airplane...
-
Suppose that a mathematical model fits linear programming except for the restrictions that 1. At least one of the following two inequalities holds: 2. At least two of the following three inequalities...
-
Consider the MOSFET class-AB output stage in Figure 8.26. The parameters are: \(V_{D D}=10 \mathrm{~V}\) and \(R_{L}=100 \Omega\). For transistors \(M_{n}\) and \(M_{p}, V_{T N}=\) \(-V_{T P}=1...
-
An enhancement-mode MOSFET class-AB output stage is shown in Figure P8.29. The threshold voltage of each transistor is \(V_{T N}=-V_{T P}=1 \mathrm{~V}\) and the conduction parameters of the output...
-
For the inductively coupled amplifier in Figure 8.28(a), the parameters are: \(V_{C C}=15 \mathrm{~V}, R_{E}=0.1 \mathrm{k} \Omega\), and \(R_{L}=1 \mathrm{k} \Omega\). The transistor parameters are...
Study smarter with the SolutionInn App