Use the following information to answer the question below. When Langston Corporation was formed on January 1, 20x5, the corporate charter provided for 100,000 shares of $10 par value common stock. The following transactions were among those engaged in by the corporation during its first month of operation: 1. The corporation issued 400 shares of stock to its lawyer in full payment of the $10,000
bill for assisting the company in drawing up its articles of incorporation and filing the proper papers with the state agency. 2. The company issued 16,000 shares of stock at a price of $50 per share. 3. The company issued 14,000 shares of stock in exchange for equipment that had a fair market value of $320,000. The entry to record transaction 3 is:
A) Equipment 320,000 Common Stock 320,000
B) Common Stock 140,000 Equipment 140,000
C) Equipment 140,000 Common Stock 140,000
D) Equipment 320,000 Common Stock 140,000Additional Paid-in Capital 180,000
D
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A buyer for a department store is looking for a line of sweaters to retail at $80 each. If a 56% markup based on selling price is the objective, what is the most the buyer can pay for the sweaters and still get the intended markup?
What will be an ideal response?
A disadvantage of distributed data processing is
a. the increased time between job request and job completion. b. the potential for hardware and software incompatibility among users. c. the disruption caused when the mainframe goes down. d. that users are not likely to be involved.
Casual listening is useful when receiving important instructions, resolving conflict, and providing or receiving critical feedback.
Answer the following statement true (T) or false (F)
A product is currently made in a process-focused shop, where fixed costs are $8,000 per year and variable cost is $40 per unit. The firm currently sells 200 units of the product at $200 per unit
A manager is considering a repetitive focus to lower costs (and lower prices, thus raising demand). The costs of this proposed shop are fixed costs = $24,000 per year and variable costs = $10 per unit. If a price of $80 will allow 400 units to be sold, what profit (or loss) can this proposed new process expect? Do you anticipate that the manager will want to change the process? Explain.