BACHELOR OF BUSINESS ADMINISTRATION

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BUSINESS ADMINISTRATION

FINANCIAL ACCOUNTING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
1. Los Angeles Lakers issued 1, 000 shares with 10 par to Lebron James as compensation for 1, 000 hours of playing basketball for the Lakers basketball team. Lebron James usually bills 200 per hour for playing basketball. On the date of issuance, the share was worth 150 per share in the public exchange. How much should the share premium account increase as a result of the transaction?
A
155, 000
B
160, 000
C
140, 000
D
135, 000
Explanation: 

Detailed explanation-1: -Los Angeles Lakers superstar LeBron James passed Kareem Abdul-Jabbar for the No. 1 spot on the NBA’s all-time regular-season scoring list (38, 387 points) on Tuesday, February 7, 2023. James previously broke the record for most total points-regular season and playoffs-in February 2022, and on Jan.

Detailed explanation-2: -To be clear, both James and Jordan are incredible business men. They are the only two NBA players in history with a net worth of more than $1 billion. But Jordan has earned the most at this point: He has a net worth of $1.7 billion, while James has a net worth of about $1 billion, according to Forbes estimates.

Detailed explanation-3: -How many points is LeBron James away from Kareem Abdul-Jabbar’s record? LeBron James currently has 38, 352 career points, 35 points shy of matching Kareem Abdul-Jabbar’s record.

Detailed explanation-4: -Jerry Buss purchased the Lakers in a multifaceted $67.5 million deal that included the Lakers, the NHL Kings, the Great Western Forum in Inglewood and a 13, 000-acre ranch in the Sierra Nevada Mountains. Buss had a vision from the start: make the idea of going to a basketball game an all-out entertainment spectacle.

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