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olganol [36]
3 years ago
15

ABC Corporation was organized on Jan 1, 2020. The firm was authorized to issue 100,000 shares of $1 par common stock. During 202

0, ABC Corporation has the following transactions relating to shareholder’s equity:a.Issued 10,000 shares of common stock at $3 per share. b. The board of directors declared dividends of $30,000c.Paid dividends to common shareholders of $30,000. d. Purchased 500 shares of treasury stock at $12 per share
Business
1 answer:
zhannawk [14.2K]3 years ago
3 0

Answer:

The journal entries are required with corresponding effect on retained earnings;

Explanation:

a. Cash  10,000*3    Dr.$30,000

   Common Stocks 10,000*1   Cr.$10,000

  Paid in Capital-Common Stocks 10,000*(3-1) Cr.$20,000

b. Dividend Expense   Dr.$30,000

    Dividend Payable    Cr.$30,000

c. Dividend Payable  Dr.$30,000

   Cash                       Cr.$30,000

d. Treasury stock    500*12 Dr.$6,000

    Cash                                 Cr.$6,000

The retained earnings  will reduce by the dividend amount of $30,000 declared and paid.

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Consider the owner of a local boutique. She is deciding if she should upgrade the storage and display containers. The total cost
miv72 [106K]

Answer:

a) $3077

b) The owner should make this investment because the marginal benefit is greater than the marginal cost

Explanation:

Given data :

Total cost = $2000

depreciation rate = 8% per year

expected increase in revenue (CF ) = $400

interest rate = 5%

a) Determine the present value of the stream of revenue due to the upgrades

= CF / ( 1 + r ) ^t      where ( 1 + r )^t = 13%

= 400 / 13%

= $3077

b) The owner should make this investment because the marginal benefit is greater than the marginal cost

8 0
2 years ago
When a nation's currency suddenly loses value, the ________ may step in to buy the afflicted currency?
cricket20 [7]
If a nation's currency drops in value significantly, the International Monetary Fund could step in and buy the currency so that some stability could occur economically
3 0
3 years ago
Workplace CrossWord Help:
elena55 [62]

Answer:

Hazard Control

Explanation:

Hazard control can be defined as the a worldwide accepted system that is setup by industries or companies to ensure the reduction or elimination of work hazards.

It is usually passed across to managers through training and the managers in turn ensure that the employees are trained as well thus ensuring that the practices become standard practices in the organization.

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4 0
3 years ago
When a packer in the frozen foods section of a grocery store labels a meat steak with little or no fat as "AA" and another meat
NikAS [45]

Answer:

Grading

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Grading system helps for easy tracking of the stock level of different food products available in the grocery store.

7 0
3 years ago
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dalvyx [7]

Answer:

Yes and the theory is stereotyping

Explanation:

In a workplace women are subjected to gender stereotyping.

Stereotyping is when there is a wrong belief or idea about people based on they look on the outside.

Most times this is a wrong belief or partially true. It is a form of prejudice because how the person is on the outside is not a true definition of who they are.

In this scenario women are made to feel they were not on the same level as male counterparts during promotions, hiring, and payment.

This prejudice was explained by home Depot to be based on experience. They said most women had experience as cashiers so the could only fill roles like cashier, customer care, and clerk

4 0
3 years ago
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