DAE Parts Shop began business on January 1, 2019. The corporate charter authorized issuance of 20,000 shares of $5 par value common stock and 5,000 shares of $10 par value, 5% cumulative preferred stock. DAE issued 12,000 shares of common stock at $25 per share on January 2, 2019. What effect does the entry to record the issuance of stock have on total stockholders' equity?
a. increase of $120,000
b. increase of $150,000
c. increase of $300,000
d. increase of $340,000
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “DAE Parts Shop began business on January 1, 2019. The corporate charter authorized issuance of 20,000 shares of $5 par value common stock ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
A manufacturing company is interested in how a new sick-leave policy affects the number of days its employees miss per year.
Answers (1)
How is the consumer price index used to calculate inflation?
Answers (2)
Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive
Answers (1)
During the fiscal year ended 2014, a company had revenues of $340,000, cost of goods sold of $215,000, and an income tax rate of 30 percent on income before income taxes. What was the company's 2014 net income? a. $87,500b. $102,000c. $37,500d.
Answers (1)
Carns Company is considering eliminating its small tools division, which reported an operating loss for the recent year of $85,000. Division sales for the year were $1,310,000 and its variable costs were $1,175,000.
Answers (1)
New Questions in Business
Which of the following is NOT one of the four distinct eras in the evolution of marketing? A. Relationship Era B. Sales Era C. Triple-Bottom-Line Era D. Social Media Era E. Production Era
Answers (1)
The auditors' report on the entity's financial statements included an additional paragraph disclosing a difference of opinion between the auditors and the entity for which the auditors believed an adjustment to the financial statements should be
Answers (1)
A favorable balance of trades exists when a country A. has more debt liabilities than assets B. spends more than it saves C. saves more than it spends D. exports more than it imports
Answers (1)
Promotions that are designed to increase product availability in distribution channels are known as: sampling. sweepstakes promotion. trade sales promotion. price promotion. nonprice promotion.
Answers (1)
Boretti has $400,000 in a stock fund. The fund pays a 10% return, compounded annually. If he does not make another deposit into the account, how long will it take for the account to increase to $2 million? (Do not round intermediate calculations.
Answers (1)