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bija089 [108]
3 years ago
14

Firm a is a new producer in the market for good​ x, which is characterized by linear demand and supply curves.​ initially, to at

tract​ customers, the firm prices its product low at​ $8 per unit. while the firm sells​ 1,000 units of the product at this​ price, there is a shortage in the market. this shortage can be cleared if price is increased to​ $10 per unit. the quantity demanded and supplied at this higher price will be​ 1,500 units.
Business
1 answer:
Sladkaya [172]3 years ago
7 0
I believe the information above is best supported by; the fact that producer surplus will increase if the price rises from $ 8 per unit to $10. This is due to the fact that there is a shortage in the market therefore demand will increase, this results to customers wanting to buy at a higher price than the initial cost, to satisfy their demand and need
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Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014, and sold 5,000 of these shar
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Answer:

The credit entry for the issue of 5000 shares is:

Cr Treasury stock                                       $100,000

Cr Paid-in capital from treasury stock          $35,000

Explanation:

The par value of the common stock issue($20 per share) is credited to treasury stock account, while the excess of issue price of $27 over the par value of $20, $7 per share is credited to paid-in capital from treasury stock

The full double entries for the issue of 5000 shares is as follows:

Dr Cash ($27*5000)                                                 $135,000.00  

Cr Treasury stock($20*5000)                                                          $100,000

Cr Paid-in capital from treasury stock($7*5000)                                $35,000

Under International Financial Reporting Standards, the credit entries would be that par value is credited to equity share capital and the excess credited to share premium account.

                                 

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