On February 1, 2020, Teal Corporation issued 3,300 shares of its $5 par value common stock for land worth $37,400. Prepare the February 1, 2020, journal entry.

Answers

Answer 1

Journal entry for Teal corporation

Account                           Debit                      Credit

Cash                                  $37,400

       Additional Paid-In Capital                         $20,900

       Common Stock - $5 Par                          $16,500

      (To record issuance of common stock)

What is Par Value?

Stocks are issues in some states at par value which means that the company sets a minimum price that they can sell stocks at in their articles of incorporation.

Par value is similar to the face value of a bond and, often, companies will sell stocks for more than par value.

First, we need to determine what portion of the cash is at par value first:

= 3,300 x $5

= $16,500

Now, we find what is sold above par:

= $37,400 - $16,500

= $20,900

Finally, we prepare the journal entry:

Account                           Debit                      Credit

Cash                                  $37,400

       Additional Paid-In Capital                         $20,900

       Common Stock - $5 Par                          $16,500

      (To record issuance of common stock)

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differentiate between nominal figures and real figures​

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Answer:

Nominal figures are the current monetary values. Real figures are adjusted for inflation and show prices at constant prices.

Explanation: Hope this helps:)

Nominal figures are figures that represent the current price level while real figures have been adjusted for inflation.

What are real and nominal figures?

Nominal figures reflects the level of inflation in a country while real figures have been adjusted for inflation. Most economic figures have both real and nominal data.

For example, there is real and nominal interest rate and real and nominal GDP.

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The fact that Tyler is learning the job by actually doing job related tasks depicts on the job training

What is on the job training?

It should be noted that on the job training simply means a form of training whereby new employees learn the job based in task given.

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The advantage of converting a raw data value to change in absorbance which each time point is: it would help in avoiding flawed calculations.

What is raw data?

A raw or source data is the data that has not been put to use or has not been processed. It doesn't have an end product like information.

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The advantages of using a franchising strategy to pursue opportunities in foreign markets include : Having franchisees bear most of the costs and risks of establishing foreign locations and requiring the franchisor to expend only the resources to recruit, train, and support and monitor franchisees.

What is franchising?

Franchising is a marketing concept in which when adopted by an organization, can be used as a strategy for business expansion.

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Fifteen years ago, everyone didn't have a cell phone. Anyone developing an app would not have found many users. Today, the existence of mobile apps is one of the reasons why smartphones are so popular today. These apps make phones and tablets smart, in terms of functionality and features. The app market is seeing hundreds of new applications introduced every day. This example shows that _______.
a. segmentation cannot identify a customer's wants and needs.
b. cell phone use has created a large enough market to make app development profitable.
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The example of the app market with hundreds of new applications introduced every day shows that b. cell phone use has created a large enough market to make app development profitable.

What is the app market?

The app market refers to the market of computer applications or apps.  Apps are used on various mobile devices used by billions of people.

App marketing today attracts the largest possible number of users for an app or widget, generating revenue in billions of dollars.

Thus, the correct answer is Option B.

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Maria babysits as a form of income while she is in college. Because the amounts she gets per job are not huge, Maria never bothers to report her earnings to the IRS. Maria is part of a loosely defined unregulated market unhindered by taxes, government permits, or human protections. What term did you learn that describes this

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Based on the information given the terms that describes this is: underground economy.

What is underground economy?

Underground economy can be defined as the way in  which a person hide their income from government or tax authorities so as to avoid remitting their tax to government.

Based on the given given scenario Maria his hidden her income and  never bothers to report her earnings to the IRS because she does not what to pay tax.

Inconclusion the terms that describes this is: underground economy.

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Answer:

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