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3 years ago

Cheyenne Corp. had the following transactions during the current period.

Business

1 answer:

Soloha48 [4]3 years ago

8 0

Answer:

Mar. 2 Issued 4,000 shares of $4 par value common stock to attorneys in payment of a bill for $21,200 for services performed in helping the company to incorporate.

Dr Incorporation expenses 21,200

Cr Common stock 16,000

Cr Additional paid in capital - common stocks 5,200

June 12 Issued 56,400 shares of $4 par value common stock for cash of $305,500.

Dr Cash 305,500

Cr Common stocks 225,600

Cr Additional paid in capital - common stocks 79,900

July 11 Issued 1,950 shares of $100 par value preferred stock for cash at $130 per share.

Dr Cash 253,500

Cr Preferred stocks 195,000

Cr Additional paid in capital - preferred stocks 58,500

Nov. 28 Purchased 2,560 shares of treasury stock for $78,500.

Dr Treasury stocks 78,500

Cr Cash 78,500

Treasury stocks account is a contra equity account which decreases the value of stockholders' equity.

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Consider the following information:

dimulka [17.4K]

Answer:

10.87% ; 17.95%

Explanation:

Expected return:

= (probability of recession × return during recession) + (probability of normal × return during normal) + (probability of boom × return during boom )

Expected return for stock A:

= (0.16 × 0.07) + (0.57 × 0.10) + (0.27 × 0.15)

= 0.1087

= 10.87%

Expected return for stock B:

= (0.16 × -0.11) + (0.57 × 0.18) + (0.27 × 0.35)

= 0.1795

= 17.95%

4 0

3 years ago

The cost to manufacture one unit of Rinker Audio Products' bestselling hearing aid, the Magnifier, is $87.50. The CFO of the com

Evgen [1.6K]

Answer:

Economies of scale.

Explanation:

In this scenario, the cost to manufacture one unit of Rinker Audio Products' bestselling hearing aid, the Magnifier, is $87.50. The chief financial officer (CFO) of the company, Neha Patel, has determined that if the company expands the output of its biggest U.S. plant by 20 percent, the unit cost would be only $82.50. The concept that as plant output expands, unit costs decrease, is known as economies of scale.

Economies of scale in microeconomics can be defined as cost reductions or cost advantages that arises when a business entity increases its level of production or are large in size.

This ultimately implies that, when a company chooses a convenient scale of operation or reduce its scale of production, this would lead to a reduction in the cost of production and consequently, some benefits such as lower long-run average cost, increased sales, profits and lower cost price for the consumers of these finished products.

8 0

4 years ago

If the federal government says that fish is healthy for you the demand for fish will

Ipatiy [6.2K]

Well there are a few choices here.

If the govt says Fish is healthy and people want to believe the govt, then demand will increase.

Or you can go the realistic way and scientists will prove wether or not that is true and their demand will depends on the scientists answer.

<u>However the most likely answer is that the demand will increase.</u>

3 0

3 years ago

Read 2 more answers

If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she

Alex787 [66]

Answer:

$88,382.67

Explanation:

Here is the complete question:

Sally makes deposits into a retirement account every year from the age of 30 until she retires at age 65.If Sally deposits $1200 per year and the account earns interest at a rate of 4% per year, compounded annually, how much will she have in the account when she retires?

To calculate the future value of the annuity, we use this formula: amount x annuity factor

Annuity factor = {[(1+r) ^N ] - 1} / r

Amount = $1200

R = interest rate = 4%

N = number of years = 35

=( 1.04^35 - 1) / 0.04 = 73.652225

73.652225 × $1200 = $88,382.67

I hope my answer helps you

8 0

4 years ago

Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1, Jorgensen accrued and deducted the f

Sindrei [870]

Question Completion:

a) Jorgensen paid the bonuses to the employees on March 1 of year 2.

b) Jorgensen paid the bonuses to the employees on April 1 of year 2.

c) Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus.

d) Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus; if not, the forfeited bonus is reallocated to the other employees.

Answer:

Jorgensen High Tech Inc.

a) Jorgensen paid the bonuses to the employees on March 1 of year 2.

In year 1, Jorgensen can deduct $147,000 of the bonuses.

b) Jorgensen paid the bonuses to the employees on April 1 of year 2.

In year 1, Jorgensen cannot deduct any bonuses since they were not paid within the two and one-half months rule.

c) Jorgensen paid the bonuses to employees on March 1 of year 2, and there is a requirement that the employee remain employed with Jorgensen on the payment date to receive the bonus.

Jorgensen can still deduct the $147,000 for bonuses in Year 1. No employee had left so far.

Jorgensen can still deduct the $147,000 for bonuses in Year 1. All the employees concerned have remain employed with Jorgensen till March 1.

Explanation:

a) Data and Calculations:

Accrued Bonuses:

Ken $58,800

Jayne $44,100

Jill $29,400

Justin $14,700

Total $147,000

b) Jorgensen, as a qualified calendar-year company, has until March 15 of year 2 to pay all year 1 bonuses in order to deduct the bonus expense in year 1. However, if Ken, Jayne, Jill, and Justin had reported the accrued bonuses in their income tax forms, the 2 and 1/2 months rule will not apply. This means that Jorgensen could still accrue the bonuses longer than 2 and 1/2 months before paying them to the employees.

7 0

3 years ago