In late 2020, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 6,000,000 shares of common stock carrying a $1 par value, and 2,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2021, 4,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 2,000,000 shares of preferred stock are issued at $20 per share.Required:1. Prepare journal entries to record these transactions.2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2021. (Assume net income for the first quarter 2021 was $1,750,000.)Part BDuring 2021, the Nicklaus Corporation participated in three treasury stock transactions:On June 30, 2021, the corporation reacquires 250,000 shares for the treasury at a price of $12 per share.On July 31, 2021, 25,000 treasury shares are reissued at $15 per share.On September 30, 2021, 25,000 treasury shares are reissued at $10 per share.Required:1. Prepare journal entries to record these transactions.2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2021. (Assume net income for the second and third quarter was $3,250,000.)Part COn October 1, 2021, Nicklaus Corporation receives permission to replace its $1 par value common stock (6,000,000 shares authorized, 4,000,000 shares issued, and 3,800,000 shares outstanding) with a new common stock issue having a $0.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $0.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.On November 1, 2021, the Nicklaus Corporation declares a $0.18 per share cash dividend on common stock and a $0.35 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2021, to shareholders of record on November 15, 2021.On December 2, 2021, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2021, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 76,000 (0.01 7,600,000) additional shares being issued to shareholders.Required:1. Prepare journal entries to record the declaration and payment of these stock and cash dividends.2. Prepare the December 31, 2021, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,750,000.)3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2021.
how could a positive bias most likely enter into a radio report ?A. bright colors in photosB. fast, upbeat background musicC.slow gloomy background music D. blue filters on the photos
6. A hypothesis test in which rejection of the null hypothesis occurs for values of the point estimator in either tail of the sampling distribution is called _______ Group of answer choices A one-tailed test A two-tailed test The null hypothesis The alternative hypothesis g
PLEASE HELP, ILL MARK BRAINLIEST""solve triangle ABC using the given information round triangle measures to the nearest degree and side measure to the nearest tenth
What do you think would be "Justice" in the trial of Derek Chauvin? What do you think will happen?
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Need an answer before 1:59 tonight. Therefore, they could have existed on earth and fueled chemical evolution. In your own words describe this concept.
_____ is based on the Archimedes' principle that any body completely orpartially submerged in a fluid, is subject to an upward force opposing the weight of theimmersed body.a) Capacityb) Buoyancyc) Versatiled) Leisurely
he adjusted trial balance for China Tea Company at December 31, 2021, is presented below: Accounts Debit Credit Cash $ 11,000 Accounts receivable 163,000 Prepaid rent 9,000 Supplies 31,000 Equipment 330,000 Accumulated depreciation $ 126,000 Accounts payable 10,000 Salaries payable 3,700 Interest payable 1,700 Notes payable (due in two years) 39,000 Common stock 240,000 Retained earnings 214,400 Dividends 26,000 Service revenue 300,000 Salaries expense 200,000 Advertising expense 75,000 Rent expense 16,000 Depreciation expense 38,000 Interest expense 2,800 Utilities expense 33,000 Totals $ 934,800 $ 934,800 Prepare an income statement for China Tea Company for the year ended December 31, 2021:
Michael is saving to buy his senior ring. The base cost of the ring is $280. There are also upgrades he can purchase for the ring. If he saves $35 each month, Which solution represents how many months it will take Micheal before he can purchase his ring? A.x8C.x8
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Discuss the ways in which international 5 star hotels meet theneeds of family visitors, travelling with young children.
Beginning inventory0 Units produced49,000 Units sold44,000 Selling price per unit$81 Selling and administrative expenses: Variable per unit$2 Fixed (total)$562,000 Manufacturing costs: Direct materials cost per unit$18 Direct labor cost per unit$9 Variable manufacturing overhead cost per unit$4 Fixed manufacturing overhead cost (total)$980,000 Requirement 1:Assume that the company uses absorption costing.(a)Determine the unit product cost. (Omit the "$" sign in your response.) Unit product cost$ (b)Prepare an income statement for May. (Input all amounts as positive values. Omit the "$" sign in your response.) (Click to select)Cost of goods manufacturedBeginning inventoryEnding inventoryGoods available for saleSales$ (Click to select)SalesEnding inventoryBeginning inventoryGoods available for saleCost of goods sold (Click to select)Gross lossGross profit (Click to select)SalesEnding inventoryGoods available for saleSelling and administrative expensesCost of goods manufactured (Click to select)Net operating lossNet operating income$
Underline the adjective in the following sentence and tell their types: 1: Sonu is an honest boy. 2. English army ran away. 3. He has no book . 4. My father gave me one thousand rupees. 5. These fruits are sour. 6. Every world is right . 7. You have lost all the wealth. 8. Which game you play? 9. I have enough money. 10. I saw the whole scene with my own eyes.
*giving brainliest to the first correct answer* How did global trade change as a result of European voyages during the Age of Exploration?A. Trade declined over land routes, including the Silk Road.B. Trade became less necessary for Asian countries.C. Trade expanded on a large scale as Europeans found newmarkets.D. Trade between Europe and Africa stopped entirely.
Plz help me well mark brainliest if correct 16+17=h+16h=?A.16B.17c.33D.47
Perennial plants in the genus Asclepias (milkweeds) contain compounds called cardiac glucosides (cardenolides) that can be toxic for animals. Monarch butterfly larvae feed on Asciepias sp. but are not harmed by the cardenolides. Instead these molecules accumulate in the tissues of the caterpillar and are present in the tissues of the adult butterfly. Because of these toxins in their tissues, Monarch butterflies are unpalatable to insectivorous birds. Another species of butterfly, the Viceroy, looks very similar to the Monarch in its bright coloration and distinctive patterning but was thought to lack a toxin. Because Monarch butterflies are toxic it was long thought that the similar appearance of nontoxic Viceroy butterflies was an example of:
The class decides to make chocolate chip cookies for Mr. Burns first day of school in September. Each student needs 34 of a stick of butter for the recipe. If 14 students want to make cookies, how many sticks of butter do they need to buy?
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Look at picture, Throw a ball in the air and create a function models to show the trajectory the variable x represents time in seconds after the ball was thrown