--%>
Assignment Help - homework help

Adjunct Account

What do you mean by the term Adjunct Account?

E

Expert

Verified

Adjunct Account: Adjunct account is that liability account that raises other liability's book value. For illustration, when a corporation issues $100,000 of shares at a value of $105 per share, it will be issuing the shares at a premium of 5%. The journal entry will comprise a debit to Cash for $105,000; a credit to shares Payable for $100,000; and a credit to Premium on shares Payable for $5,000. As credit balance is normal balance for a liability account, the account Premium on shares Payable can be termed to as an adjunct account. Instantly subsequent to the shares are issued, the shares will have a carrying value of $105,000.

   Related Questions in Financial Accounting

  • Q : Accountancy Accountancy is the process

    Accountancy is the process of communicating financial information about a business entity to users such as shareholder and manager. The communication is generally in the form of financial statements that show in money terms the economic resources under the control of management; the art lies in s

    		•
  • Q : Universities Essay topics I have a

    I have a problem with the following Essay topics illustrated below: Topic A:What is the ultimate goal of yoga practice according to Patanjali, and how do

    		•
  • Q : Acc company A began operation on

    company A began operation on january 1,2012. The annual reporting period ends December 31.The trial balance on January 1,2013 was as follows

    		•
  • Q : Free international trade in goods and

    Explain, how economic well-being of a country is improved through free international trade in the goods and services?

    		•
  • Q : Determinants of operating exposure

    Describe determinants of the operating exposure.

    		•
  • Q : Categories of occupational crime

    Describe four categories of occupational crime.

    		•
  • Q : Explain the term Insolvent Explain the

    Explain the term Insolvent in brief associating to debt?

    		•
  • Q : Importance of international financial

    Explain the importance in studying the international financial management?

    		•
  • Q : Separately-priced-items strategy

    Problem 1.  The manager of Joe's Menswear has noticed that over the past two holiday seasons their usual sales strategy of marking down prices has not been yielding the boost in revenues that it once did.  JM sell men's suits, dress shirts,

    		•
  • Q : Write a Matlab function Fourbar Write a

    Write a Matlab function Fourbar (r1,r2,r3,r4,theta,speed) that animates three cycles of a fourbar linkage having link lengths r1, r2, r3, r4. The function first checks to ensure the mechanism isGrashof (including the change-point c

    		•