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masha68 [24]
3 years ago
8

Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transact

ions affect stockholders' equity during 2015, its first year of operations:
January 2 Issue 110,000 shares of common stock for $70 per share.
February 14 Issue 60,000 shares of preferred stock for $12 per share.
May 8 Purchase 11,000 shares of its own common stock for $60 per share.
May 31 Resell 5,500 shares of treasury stock for $65 per share.
December 1 Declare a cash dividend on its common stock of $0.25 per share and a $36,000 (6% of par value) cash dividend on its preferred stock payable to all stockholders of record on December 15. The dividend is payable on
December 30. (Hint: Dividends are not paid on treasury stock.)
December 30 Pay the cash dividends declared on December 1.

Required:
a. Record each of these transactions.
b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2015. Net income for the year was $490,000.
Business
1 answer:
kvv77 [185]3 years ago
3 0

Answer:

i am sorry i do not know because i am having trouble with the same problem

Explanation:

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what is ur question Imao

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6 0
3 years ago
assuming you have a tcf free student checking account, which fee would end up costing you extra money?
asambeis [7]

Out-of-network ATM fee would end up costing you extra money assuming you have a TCF free student checking account.

<h3>What are ATMs and what do they do?</h3>

Automated teller machines (ATMs) are online financial services that let customers do transactions without visiting a bank location. While some ATMs are just straightforward cash dispensers, others support a range of services like check deposits, balance transfers, and bill payments.

<h3>How Are ATMs Operated?</h3>

Most of the time, using an ATM involves inserting a debit card, ATM card, or credit card into one of the machine's slots. No matter where the ATM is, it electronically links to your bank account over the internet or a phone connection.

To know more about ATM visit:

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5 0
1 year ago
Which kind of budget would cause the largest increase in a country national debt?
nexus9112 [7]

Answer:

A. One that decrease taxes and increase spending

Explanation:

No income and more outgoing would create the biggest deficit.

4 0
3 years ago
Read 2 more answers
Match each of the fees below with the situations where a credit card
sammy [17]

Answer:

<em>Annual fee</em> - You pay $75 for the privilege of using your  card for one year.

<em>Late payment fee </em>- You don't have the money  to make your minimum  payment one month.

<em>Balance transfer fee</em> - You pay what you owe on  one credit card using your new credit card.

<em>Cash advance fee </em>- You take out $400 from an  ATM using your credit card.

Explanation:

An annual fee is a common fee that every bank charges for the maintenance of your bank account with all cards attached to it.

A late payment fee is a punishment fee when you do not manage to pay the minimum payment of a borrowed amount during one month.

A balance transfer  fee is when you transfer the debt from one credit card to another credit card.

A cash advance fee is the fee paid for withdrawing cash from the ATM that is not from your checking account. It is paid when you take the cash that is within your credit limit.

6 0
4 years ago
Read 2 more answers
Widgets, Inc., based in the United States, makes small parts for the auto industry. Over the past couple of years, Widgets has l
lord [1]

Answer:

This is called:

Trade Restriction

Explanation:

Outsourcing to foreign markets can cripple domestic industries, increase local unemployment, and impose trade imbalance.  To check excessive outsourcing, the federal government imposes tariffs.  Such a trade restriction is considered necessary within the domestic economy.  But it may be regarded as a restriction of free trade within the international community.

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3 years ago
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