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On December 28, 2018, Videotech Corporation (VTC) purchased 11 units of a new satellite uplink system from Tristar...
On December 28, 2018, Videotech Corporation (VTC) purchased 11 units of a new satellite uplink system...
On December 28, 2018, Videotech Corporation (VTC) purchased 11 units of a new satellite uplink system from Tristar Communications for $20,000 each. The terms of each sale were 2/10, n/30. VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2019. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select...
TERE TUPPLE IS 6.16 184 serie REL SAVIN 04 visit 0.10/581 ....******* 11/11 stes D .....
TERE TUPPLE IS 6.16 184 serie REL SAVIN 04 visit 0.10/581 ....******* 11/11 stes D .. l Court Total Fu. Som restria ARD SAV o 3 Points Points Points 12 so19 1857.58 22 Calores MOH BE 8-4 Purchase discounts; gross method On December 28, 2021, Videotech Corporation (VTC) purchased 10 units of a new satellite uplink system from Tristar Communications for $25,000 each. The terms of each sale were 1/10, n/30. VTC uses the gross method to account for purchase...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$25 par...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$15 par...
Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$15 par value, 100,000 shares authorized, 55,000 shares issued and outstanding $ 825,000 Paid-in capital in excess of par value, common stock 70,000 Retained earnings 400,000 Total stockholders' equity $ 1,295,000 During 2019, the following transactions affected its stockholders’ equity accounts. Jan. 2 Purchased 4,500 shares of its own stock at $25 cash per share. Jan. 5 Directors declared a $4 per share cash dividend payable...
Federal Semiconductors issued 10% bonds, dated January 1, with a face amount of $920 million on January 1, 2018. The bo...
Federal Semiconductors issued 10% bonds, dated January 1, with a face amount of $920 million on January 1, 2018. The bonds sold for $846187,826 and mature on December 31, 2037 (20 years). For bonds of similar risk and maturity the market yield was 11%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2018, the fair value...
On December 12, 2018, Pace Electronics received $31,200 from a customer toward a cash sale of...
On December 12, 2018, Pace Electronics received $31,200 from a customer toward a cash sale of $312,000 of diodes to be completed on January 16, 2019 What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) View transaction list Journal entry worksheet Record the appropriate entry on December 12. Note: Enter debits before credits Date General Journal Debit Credit December...
On December 15, 2017, Lisbeth Inc. (a U.S. company purchases merchandise inventory from a foreign supplier...
On December 15, 2017, Lisbeth Inc. (a U.S. company purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2018. Currency exchange rates for 1 schilling are as follows: 0.30 December 15, 2017 December 31, 2017 917 January 25, 2018 January 31, 2018 Prepare all journal entries for Lisbeth Company in connection with this purchase...
On January 1, 2018, David Mest Communications granted restricted stock units (RSUS) representing 40 million of...
On January 1, 2018, David Mest Communications granted restricted stock units (RSUS) representing 40 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUS satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $15 per share on the grant date. At the date of grant, Mest anticipated that 6% of the recipients would leave the firm...
Problem 10-1 Acquisition costs (LO10-1, 10-2, 10-3, 10-4] Tristar Production Company began operations on September 1,...
Problem 10-1 Acquisition costs (LO10-1, 10-2, 10-3, 10-4] Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions that occurred during its first four months of operations. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) ok 1. On September 1, the company acquired five acres of land with a building that will be used as a...
On December 12, 2018, Pace Electronics received $25,200 from a customer toward a cash sale of...
On December 12, 2018, Pace Electronics received $25,200 from a customer toward a cash sale of $252,000 of diodes to be completed on January 16, 2019. What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the appropriate entry on January 16. Note: Enter debits before credits. Debit Date General Journal Credit January...
On December 28, 2018, Videotech Corporation (VTC) purchased 11 units of a new satellite uplink system from Tristar Communications for $20,000 each. The terms of each sale were 2/10, n/30. VTC uses the net method to account for purchase discounts and a perpetual inventory system. VTC paid the net-of-discount amount on January 6, 2019. Prepare the necessary journal entries assuming that VTC uses the net method to account for purchase discounts. (If no entry is required for a transaction/event, select...
TERE TUPPLE IS 6.16 184 serie REL SAVIN 04 visit 0.10/581 ....******* 11/11 stes D .. l Court Total Fu. Som restria ARD SAV o 3 Points Points Points 12 so19 1857.58 22 Calores MOH BE 8-4 Purchase discounts; gross method On December 28, 2021, Videotech Corporation (VTC) purchased 10 units of a new satellite uplink system from Tristar Communications for $25,000 each. The terms of each sale were 1/10, n/30. VTC uses the gross method to account for purchase...
Kohler Corporation reports the following components of
stockholders’ equity at December 31, 2018.
Common stock—$25 par value, 100,000 shares authorized,
60,000 shares issued and outstanding
$
1,500,000
Paid-in capital in excess of par value, common stock
80,000
Retained earnings
370,000
Total stockholders' equity
$
1,950,000
During 2019, the following transactions affected its stockholders’
equity accounts.
Jan.
2
Purchased 4,500 shares of its own stock at $20 cash per
share.
Jan.
5
Directors declared a $6 per share cash dividend payable...
Federal Semiconductors issued 10% bonds, dated January 1, with a face amount of $920 million on January 1, 2018. The bonds sold for $846187,826 and mature on December 31, 2037 (20 years). For bonds of similar risk and maturity the market yield was 11%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2018, the fair value...
On December 12, 2018, Pace Electronics received $31,200 from a customer toward a cash sale of $312,000 of diodes to be completed on January 16, 2019 What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No Journal entry required in the first account field.) View transaction list Journal entry worksheet Record the appropriate entry on December 12. Note: Enter debits before credits Date General Journal Debit Credit December...
On December 15, 2017, Lisbeth Inc. (a U.S. company purchases merchandise inventory from a foreign supplier for 50,000 schillings. Lisbeth agrees to pay in 45 days after it sells the merchandise. Lisbeth makes sales rather quickly and pays the entire obligation on January 25, 2018. Currency exchange rates for 1 schilling are as follows: 0.30 December 15, 2017 December 31, 2017 917 January 25, 2018 January 31, 2018 Prepare all journal entries for Lisbeth Company in connection with this purchase...
On January 1, 2018, David Mest Communications granted restricted stock units (RSUS) representing 40 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUS satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $15 per share on the grant date. At the date of grant, Mest anticipated that 6% of the recipients would leave the firm...
Problem 10-1 Acquisition costs (LO10-1, 10-2, 10-3, 10-4] Tristar Production Company began operations on September 1, 2018. Listed below are a number of transactions that occurred during its first four months of operations. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) ok 1. On September 1, the company acquired five acres of land with a building that will be used as a...
On December 12, 2018, Pace Electronics received $25,200 from a customer toward a cash sale of $252,000 of diodes to be completed on January 16, 2019. What journal entries should Pace record on December 12 and January 16? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the appropriate entry on January 16. Note: Enter debits before credits. Debit Date General Journal Credit January...
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