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agasfer [191]
4 years ago
13

Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 100 shares of its common st

ock on May 1 for $5,000. On July 1, it reissued 50 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:
Deffense [45]4 years ago
8 0

Answer:

$50

Explanation:

Fortune Company

Paid-in capital,Treasury stock:

May1 $ 0

July 1: $2/share *50 shares 100

August 1:$1/share*50 shares (50)

Balance August 2 $ 50

Therefore the balance in the Paid-in Capital, Treasury Stock account on August 2 will be $50

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Alliance Company's budgets production of 39,000 units in January and 43,000 units in the February. Each finished unit requires 4
Ket [755]

Answer:

The correct answer is 160,800 pounds.

Explanation:

According to the scenario, the computation of the given data are as follows:

Budget production in Jan = 39,000 units

Raw material per unit = 4 pounds

So, total raw material needed = 39,000 × 4 pounds = 156,000 pounds

Beginning inventory = 46,800 pounds

Ending inventory = (43,000 × 4 pounds ) × 30% = 51,600 pounds

So, Budgeted material needed = Total raw material + Ending inventory - Beginning inventory

= 156,000 + 51,600 - 46,800

= 160,800 pounds

8 0
4 years ago
Unclearninglab.litmos.com
adell [148]

Answer:

Janine and Josh

Josh can advise Janine  of each of the following except:

Josh should tell Janine that she can only change her current plan to a 5-

star plan during the Annual Election Period.

Explanation:

The Special Election Period (SEP) for the 5-star Medicare Plan lasts one week, that is, between Nov. 30 and Dec. 8.  However, there is an Annual Enrollment Period (AEP) that lasts from October 15th to December 7th.  During the annual enrollment period, any plan holder can change her Medicare plan, depending on its availability in her area.

3 0
3 years ago
Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 13,500 Ending Inventory 8,100 Expenses 2,300 Ne
Neporo4naja [7]

Answer:

Check the following explanation

Explanation:

a) Goods available for sale = Beginning Inventory + Net Purchases

13500 + 17500 = 31000

Cost of goods sold = Goods available for sale - Ending Inventory

31000 - 8100 = 22900

Gross Profit = Net Sales - Cost of goods sold

26500 - 22900 = 3600

b) Net Income for Krug Service Company = Revenues - Expenses

= 31000 - 10500

= 20500

Net Income for Kleiner Merchandising Company = Gross Profit (Computed Above) - Expenses

= 3600 - 2300

= 1300

8 0
4 years ago
Jennifer is marketing manager for a major consumer goods firm. She is interested in determining if market opportunity exists for
Andrei [34K]

Answer:

- How to best segment the ready-made dinner market.

4 0
4 years ago
All changes in account balances are not caused by transactions between the business and another business or individual. true fal
pychu [463]
That is definitely false
8 0
3 years ago
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