FREE Trial

Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The

This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!

Question:

Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When recording this transaction, Swifty company will:

Expert Answer:

Answer rating: 100% (QA)

Swify Co will DEBIT LAND for View the full answer


answer-question
Related Book For  answer-question
Advanced Financial Accounting

Advanced Financial Accounting

ISBN: 978-0078025624

10th edition

Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Posted Date: October 25, 2020 07:01:48
See More Questions

Students also viewed these accounting questions

Q:
Bennett Inc. is a publicly held corporation whose diversified operations have been separated into five industry segments. Bennett is in the process of preparing its annual financial statements for...
A:
a A subdivision of an entity is a reportable segment if one of the following tests is met 1 Revenue both unaffiliated and intersegment revenue is ten......
Q:
The A. H. Robins Company is a publicly held company that filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. Robins sought refuge in Chapter 11 because of a multitude of...
A:
No The appeals court held that the district court had no authority......
Q:
Which of the following industries would most likely have the highest ratio of sales revenue to property, plant and equipment? Question 9 options: 1) Airline 2) Consumer product manufacturing company...
A:
4 Stock Brokerage This is because Airline would have to i......
Q:
Scruffy brother's supply uses a periodic inventory system. During May, the following transactions and events occurred. May 13 Purchased 8 motors at a cost of $45 each from Charlie Company, terms...
A:
DATE ACCOUNT TITLE DEBIT CREDIT May 13 Motors......
Q:
Teri Hatcher Inc., in its first year of operations, has the following differences between the book basis and tax basis of its assets and liabilities at the end of 2019. It is estimated that the...
A:
a Income Tax Expense 128 800 Deferred Tax Asset 68 000 Income Taxes Payable 176 800 Deferred Tax Lia......
Q:
Classify the following incomes into operating income, other income, exceptional income or extraordinary income: 1. Interest earned by a bank. 2. Interest earned by a manufacturing company on the...
A:
Click to View...
Q:
Consider Boeing (a producer of jet aircraft), General Mills (a producer of breakfast cereals), and Wacky Jacks (which claims to be the largest U. S. provider of singing telegrams). For which of these...
A:
The more time a firm has to adjust its inputs the m......
Q:
Calculate the linear acceleration of a car, the 0.270 - m radius tires of which have an angular acceleration of 17.0 rad/s2. Assume no slippage and give your answer in m/s 2. How many revolutions do...
A:
The question in the image is asking for the linear acceleration of a car given that the radius tires......
Q:
Consider a standard 52 card deck of playing cards. In total there are four cards that are Aces, four cards that are Kings, four cards that are Queens and four cards that are Jacks. The remaining 36...
A:
a P Q 1 2 47 2 queens in the 47 cards P Q 2 C 45 47 b P Q 2 C Q 1......
Q:
Data were gathered from a simple random sample of cities. The variables are Violent Crime? (Crimes per? 100,000 population), Police Officer Wage? (Mean $/hr), and Graduation Rate? (%). Use the...
A:
a Let x 2 denotes the Graduation Rate and y denotes the Violent Crime The null and alternative hypot......
Q:
Hilt For the circuit shown Figure 1: 1- Find the F'. Ic and Rth seen by R 2- Use the Thevenin's equivalent circuit you obtained to find the values of V when V1 -17V R, is varied from 2.5 K to 10.5 K...
A:
Click to View...
Q:
Louise, a lesbian woman, feels she has been sexually harassed at work. She is concerned sexual harassment laws may not cover her situation because the perpetrator in her situation is a heterosexual...
A:
In many places sexual harassment laws typically do not s......
Q:
Construct a research instrument questionnaire of ten (10) questions, that you could apply to investigate diversity elements that are prominent at the workplace and its impact on employee satisfaction...
A:
Research Instrument Questionnaire Workplace Diversity and Employee Satisfaction in the Malaysian Hotel Industry Introduction Dear Participant Thank you for participating in our research study This que......
Q:
Why do some cognitive neuroscience researchers use brain scans on children? explain,
A:
Cognitive neuroscience researchers use brain scans on children to gain insights into the development......
Q:
Jasmine spends six months with a Republican group after the 2020 Presidential Election to assess the direction members believe the party is headed (e.g. moving more towards Trumpism or moderate...
A:
Jasmine in this scenario would be participating in participant observation This research met......
Q:
Company D is a merchandiser of MLB Hats. One of their biggest customers calls Company D and expresses concerns over their ability to pay the $20,000 owed to Company D. Company D agrees to covert the...
A:
The total interest that the customer will pay to Company D at the end of the 60 days can be calc......
Q:
The vapor pressure of the liquid NH, is measured at different temperatures. The following vapor pressure data are obtained. Temperature, K P, mmHg 217.1 223.4 234.7 588.1 Calculate the enthalpy of...
A:
Click to View...
Q:
Which law requires that companies maintain accurate accounting records and an adequate system of internal control? What is meant by an "adequate system of internal control"?
A:
The Foreign Corrupt Practice Act of 1977 requires that compani......
Q:
Globe Shipping, a U.S. company, is an importer and exporter. The following are some transactions with foreign companies. 1. Globe sold blue jeans to a South Korean importer on January 15 for $7,400,...
A:
1 January 15 Accounts Receivable 7 400 Sales Revenue 7 400 Foreign export denominated in U S dollars March 15 Cash 7 400 Accounts Receivable 7 400 Collect receivable from South Korean firm 2 March 8 I......
Q:
How do the elimination entries at the end of the year change when an acquisition occurs at midyear rather than at the beginning of the year?
A:
The revenues and expenses of the subsidiary for the full year are included in the consolid......
BBTO 40 Pack Kids Youth Mouth Guard For Sports Athletic Boys Girls - ISBN: B0BJNWC41Y - Free Book