On February 2, Year 1, the Farmer Corporation issued 9,000 shares of no-par stock for $17 per share. The next day, the stock's price jumped on the New York Stock Exchange to $21 per share. Which of the following answers describes the effect of the February 2, Year 1 transaction? Assets=Liab.+Com. Stk.Rev.?Exp.=Net Inc.Cash FlowA.153,000=NA+153,000NA?NA=NA153,000 FAB.189,000=NA+189,000NA?NA=NA189,000 IAC.153,000=NA+153,000NA?NA=NA153,000 IAD.189,000=NA+189,000NA?NA=NA189,000 FA
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: A
You might also like to view...
Stare decisis:
A. creates harsh results by refusing to recognize equitable exceptions. B. means a new statute applies only to actions taken after it becomes effective. C. renders law rigid and unchanging. D. lends predictability to decisional law by relying on prior decisions.
When responding to customer concerns, you should only respond in those areas in which you are qualified
Indicate whether the statement is true or false
Summerlin Company budgeted 4,000 pounds of material costing $5.00 per pound to produce 2,000 units. The company actually used 4,500 pounds that cost $5.10 per pound to produce 2,000 units. What is the direct materials price variance?
A. $400 unfavorable. B. $2,550 unfavorable. C. $450 unfavorable. D. $2,950 unfavorable. E. $2,500 unfavorable.
Incremental costs are also called out-of-pocket costs.
Answer the following statement true (T) or false (F)