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Oksana_A [137]
3 years ago
5

BE16.11 (LO 4) Tomba Corporation had 300,000 shares of common stock outstanding on January 1, 2020. On May 1, Tomba issued 30,00

0 shares. (a) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued for cash. (b) Compute the weighted-average number of shares outstanding if the 30,000 shares were issued in a stock dividend.
Business
1 answer:
Butoxors [25]3 years ago
8 0

Answer

1) Issued for Cash

Weighted Average number of shares at year end 330,000

b) Issued for Dividends

weighted Average number is 320,000

Explanation:

The Weighted average number  (assuming year end is 31 December)

300000 * 12/12 = 300000 full year

30000 = 30000

issued for dividends

Weighted average number

300000 * 12/12 = 300000 full year

30000 * 8/12 = 20000

total at year end 320000 shares

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Under the direct write-off method of accounting for uncollectible accounts Group of answer choices
Temka [501]

Answer:

b.a specific account receivable is decreased for the actual amount of bad debt at the time of write-off.

Explanation:

The journal entry to record the bad debt expense using the write - off method is shown below:

Bad debt expense XXXXX

       To Account receivable XXXXX

(Being the bad debt expense is recorded)

So by passing this journal entry we get to know that the bad debt expense should be debited which reflects the actual amount as it increases the expenses while at the same time it reduces the asset account i.e account receivable

Hence, the correct option is b.  

7 0
3 years ago
Which purchase situation is most likely a low involvement purchase for the consumer?
sesenic [268]

Tyrone is buying a cup of coffee at the corner coffee shop, which he does most days.

This is further explained below.

<h3>What is a consumer?</h3>

Generally, The process through which a company or other organization acquires the products or services it needs to meet its objectives is known as purchasing.

Even though there are various organizations that make an effort to provide standards for the buying process, individual firms' procedures might be quite different from one another.

A person or group is considered to be a consumer if they intend to order, do order, or use purchased goods, products, or services primarily for personal, social, family, household, and similar needs that are not directly related to entrepreneurial or business activities.

Consumers can be individuals or groups.

In conclusion, Tyrone is doing what he does almost every morning, which is going to the coffee shop on the corner and purchasing a cup of coffee.

Read more about consumers

brainly.com/question/13420317

#SPJ1

4 0
1 year ago
Mogul ships inventory with a cost of $80,000 to Ski Outfit and pays shipping costs of $8,000. By the end of the year, $60,000 of
Bezzdna [24]

Answer:

D $22,000.

Explanation:

Mogul ships inventory

Cost of goods = $80,000+$8,000=$88,000

Cost of goods old = $60,000+$6,000=$66,000

Inventory =$88,000-$66,000

=$22,000

Therefore the amount of inventory will Mogul report at year end will be $22,000

4 0
3 years ago
Effectively a bookkeeping adjustment undertaken by a firm that increases the number of shares outstanding and immediately causes
Klio2033 [76]

Answer:

This is a stock split.

Explanation:

This statement describes a stock split. It occurs when a company's board of directors decide to increase the number of company shares but still maintain the same total value of equity. An example would be a 2-1 stock split which means that every investor holding one share of the company would now hold 2 shares . One reason why a stock split occurs is when the stock price is perceived to be too expensive hence necessary to lower the price so other investors can buy it.

7 0
3 years ago
Pre-Fab purchased some machinery two years ago for $337,600. These assets are classified as five-year property for MACRS. The MA
faltersainse [42]

Answer:

$153,566.80

Explanation:

Book value of old machine = Machinery Cost*(1 - Accumulated depreciation)

Book value of old machine = $337,600*(1 - 0.20 - 0.32)

Book value of old machine = $337,600*0.48  

Book value of old machine = $162,048

Loss on sale = Sale value - Book value

Loss on sale = $149,000 - $162,048  

Loss on sale = -$13,048

Tax saving due to loss (cash inflow) = $13,048 * 0.35

Tax saving due to loss (cash inflow) = $4,566.80

Total cash inflow = $4,566.8 + $149,000

Total cash inflow = $153,566.80

Therefore, the after-tax salvage value from this sale is $153,566.80.

6 0
3 years ago
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