Answer and Explanation:
a. The computation of the no of shares outstanding is shown below:
No. of shares outstanding is
= shares issued - shares held as treasury stock
= 7,040 shares - 2,781 shares
= 4,259 shares
b. The average price is
= (Common Stock value + Capital Surplus) ÷ No. of shares issued
=($1,760 + $15,864) ÷ 4259 shares
= $4.14
Answer: C
Explanation: You have to give away something to get something else
Hope this helps!
Answer: $6000 short term Capital loss
Explanation:
From the question, we are informed that on May 1, 2018, Kelalani purchased land for $88,000 for use in her business and that she sold it on May 1, 2019, for $82,000.
We are further told that there are no other sales of business or trade property. Based on this scenario, the loss treated for tax purposes on Kelalani's return will be a short term capital loss of $6000($88,000 - $82,000). It is a short term capital loss because the loss is for a period of a year or less.
Answer:
B. Debit Loss $5,000
Explanation:
The following should take place on the Sale of Truck or any PPE item :
- De-recognise the Asset Cost
- De-recognisde the Accumulated Depreciation
- Recognise the Proceeds arising from disposal (if any)
- Recognise the profit or loss arising from such a disposal (if any)
<u>Journal to record the disposal of the truck ;</u>
Cash $95,000 (debit)
Accumulated Depreciation $ 40,000 (debit)
Loss on Sale of Truck $ 5,000 (debit)
Truck $ $140,000 (credit)
<u>Accumulated Depreciation Calculation :</u>
Depreciation = (Cost - Residual Value) / Useful Life
= ( $140,000 - $20,000) / 6 years
= $ 20,000
<em>Accumulated Depreciation</em>
2018 = $ 20,000
2019 = $ 20,000
Total = $ 40,000
A simultaneous increase in both the demand for tablets and the supply of tablets would imply that a the value of tablets to consumers has increased, and the cost of producing tablets has decreased.
<h3>What is the law of demand?</h3>
Demand can be regarded as the quantity of a good that consumers is able to buy at given period of time willingly.
Therefore when there is increase in both the demand for tablets and the supply of tablets, it means the consumer has understood the value because the value of a product can influence demand.
Learn more about demand at:brainly.com/question/1245771
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