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jarptica [38.1K]
3 years ago
14

Horton Co. was organized on January 2, 2014, with 500,000 authorized shares of $10 par value common stock. During 2014, Horton h

ad the following capital transactions:
January 5-issued 375,000 shares at $14 per share.
July 27-purchased 25,000 shares at $11 per share.
November 25-sold 18,000 shares of treasury stock at $13 per share.

Horton used the cost method to record the purchase of the treasury shares. What would be the balance in the Paid-in Capital from Treasury Stock account at December 31, 2014?
Business
1 answer:
Harrizon [31]3 years ago
7 0

Answer:

The balance in the Paid-in Capital from Treasury Stock account at December 31, 2014 is $36,000

Explanation:

The computation of the balance in the treasury stock account is shown below:

= Number of shares sold × (Selling price of share - purchase price of share)

= 18,000 shares × ($13 per share - $11 per share)

= 18,000 shares × $2 per share

= $36,000

The other items which are mentioned like issued shares, authorized shares are irrelevant because we have to compute for the treasury stock, not for the common stock. So, these parts would be ignored in the computation part.

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Jogging gear is considering a project with an initial cash requirement of $238,400. the project will yield cash flows of $4,930
natta225 [31]
First, we need to calculate for the total return of the project by multiplying 4,930 by 65. Doing so will give us an answer of $320,450. Then, we calculate the rate of return as shown below.
                     rate of return = ($320,450 / $238,400) x 100% 
                                             = 134.42%
Thus, the rate of return of the said project is approximately 134.42%. 
7 0
3 years ago
Ron,a new associate at Barkley and Sons,is working to cultivate personal relationships with individuals outside of his departmen
scZoUnD [109]

Answer:

B. Personal communication network

Explanation:

Personal communication network -

It refers to the method of establishing new connection or relation with various people, in order to expand his or her network, is referred to as Personal communication network.

The mode of communication can be with some digital gadget, telephone, or word to word communication.

Hence, from the given scenario of the question,

Ron tries to get to know various people, who may help to succeed in future.

As, connection with various people enables the person to get more and more knowledge and experience, thereby showcasing personal communication network.

6 0
3 years ago
The before-tax income for Culver Co. for 2017 was $101,000 and $84,100 for 2018. However, the accountant noted that the followin
valentina_108 [34]

Answer:

Corrected income before tax year 2017 = $65,690  

Corrected income before tax year 2018 = $102,467

Explanation:

According to the scenario, computation of the given data are as follow:-

 

Particular                                            Year 2017 ($) Year 2018 ($)    

Income before tax                                            101,000    84,100    

Corrections      

1. In 2017, unearned sales                           -36,200      

Sales added in 2018                                                      36,200    

2. In 2017, understated ending inventory    9,500      

In 2018, overstated opening inventory                      -9,500    

3. Add-wrongly charged interest expenses    13,800            13,800    

Less-actual interest expenses      

In 2017 ($230,000-$14,000)×7%=$216,000×7% -15,120      

In 2018, bond of carrying amount

       =$216,000+($15,120-$13,800)=$217,320      

In 2018, Actual interest expense=($217,320×7%)    -15,212    

4 Add-wrongly charged depreciation expenses      

In 2017=($8,100×10%)                                           810      

In 2018,=($8,100-$810)×10%+$8,500×10% =                      1,579    

Less-actual expenses for repairs                          -8,100    -8,500    

Corrected income before tax                         65,690   102,467    

     

4 0
3 years ago
Which of the following factors will increase GDP and also achieve sustained​ growth?
Salsk061 [2.6K]

Answer:

The correct answer is the letter d. Advances in the technical knowledge used in production.

Explanation:

Technology is an important variable in economic growth models, having a positive effect on the production process. Technological progress occurs when technology increases over time, and its effect is on worker productivity. That is, technological advancement enables work to become more productive, culminating in sustainable per capita gross domestic product growth.

7 0
3 years ago
Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
jeyben [28]

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

4 0
2 years ago
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