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krok68 [10]
3 years ago
14

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 160 shares of its common st

ock on May 1 for $8,000. On July 1, it reissued 80 of these shares at $52 per share. On August 1, it reissued the remaining treasury shares at $49 per share. What is the balance in the Paid-in Capital, Treasury Stock account on August 2
Business
1 answer:
qaws [65]3 years ago
8 0

Answer: $80

Explanation:

From the question, we are informed that prior to May 1, Fortune Company has never had any treasury stock transactions and that a company repurchased 160 shares of its common stock on May 1 for $8,000. The price per share will be:

= $8,000/160

= $50 per share

The balance in paid capital as at May 1 will be 0.

On July 1, it reissued 80 of these shares at $52 per share. This means that there is an increase of ($52 - $50) = $2 per share.

The balance paid on capital as at July 1 will be:

= $2 × 80

= $160

On August 1, it reissued the remaining treasury shares at $49 per share. This mean that there is a reduction of $1 per share.

The balance paid on capital as at August 1 will be:

= -1 × $80

= -$80

The balance in the Paid-in Capital, Treasury Stock account on August 2 will now be:

= $160 - $80

= $80

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The firm receives an average of $20,000 in checks per day. The weighted average delay in clearing the checks received is 3 days.
katrin [286]

Answer:

<u>$26000</u>

Explanation:

from the question;

check per day; 20000

delay: 3 days

checks to pay suppliers; 17000

clearing time 2 days

<u>we first calculate collection flaot:</u>

collection flaot = average amount of check x outstanding days

= 20000 x 3

= 60000

now we have to calculate <u>disbursements float:</u>

average amount of check x days to clear

= 17000 x 2

= 34000

with these two values we can get the net float

= collection flaot - disbursements float

= 60000 - 34000

= <u>$26000</u>

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3 years ago
Can someone please write a business article for me
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Answer:

u can use quillbot.com

Explanation:

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7 0
2 years ago
Suppose the economy's production function is ???? = ????K 0.3???? 0.7 . If K = 2000, N = 100, and A = 1, then Y = 246. If K and
densk [106]

Answer:

Y=38.8

Y will increase by 38.8

Y=246+38.8

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Explanation:

Y=A. F(K, L)

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K=2000

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200=1(2000^0.3, 100^0.7)

Now the question says both k & N are increased by 0.20

Therefore

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Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $4
vlada-n [284]

Answer:

Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:

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Total sales                   $1,842,400                   $28

Variables costs           <u>($1,184,400)</u>                  <u>($18)</u>

Contribution margin    $658,000                    $10

Fixed costs                 <u>($498,000)</u>                  <u>($7.57)</u>

Operating income       $160,000                    $2.43

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