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masha68 [24]
2 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]2 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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Marston Manufacturing Company is considering a project that requires an investment in new equipment of $3,600,000, with an addit
Artyom0805 [142]

Answer:

a. $3,780,000

Explanation:

According to the scenario, calculation of the given data are as follows

New equipment = $3,600,000

Shipping and installation = $180,000

We can calculate the total cost of Martson's new equipment by using following formula,

Total Cost = New equipment cost + Shipping and Installation cost

By putting the value, we get

Total Cost = $3,600,000 + $180,000

= $3,780,000

6 0
3 years ago
If Clancy's boss is interested in a graphical representation of the relationship between the price and quantity of televisions d
Anna35 [415]

Answer:

A demand schedule

Explanation:

A demand schedule is a table that shows how the quantity demanded varies with changes in prices. It is a table that explains the relationship between the price of a product or service and its demand. A demand schedule provides the same information as the demand curve. The only difference is that the demand curve uses graphical representation, while the demand schedule uses the table format.

Clancy should, therefore, prepare the demand schedule for her boss. It will give the same information regarding the relationship between price of televisions and the quantity demanded.

6 0
2 years ago
M1 is the
Elodia [21]

Answer:

B. money market funds

Explanation:

The most limited definition of money, M1, consists just of cash and various bank accounts that allow check writing. Money in circulation includes cash, traveler's checks, demand deposits, and other types of checkable deposits.

7 0
1 year ago
Ralph gives his daughter, angela, stock (basis of $8,000; fair market value of $6,000). no gift tax results. if angela subsequen
Andreas93 [3]

Answer:

D) $2,000

Explanation:

Angela's basis on the stocks will be the same as her father's. Since she sold the stocks, her basis will be $8,000, so her recognized gains will = selling price - basis = $10,000 - $8,000 = $2,000

The IRS allows the donee (Angela) to use the doners (Ralph) basis when selling an asset received as a gift in order to determine the realized gain/loss.

6 0
3 years ago
Read 2 more answers
According to the theory of comparative advantage, potential world production is greater with unrestricted free trade than it is
dimaraw [331]

Answer:

The answer is true

Explanation:

The law of comparative advantage describes how, under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.

8 0
2 years ago
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