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ElenaW [278]
3 years ago
15

Reseller markets involve ________. firms that buy goods and services for further processing in their production processes firms

that buy goods and services and then sell them at a profit government agencies that buy goods and services to produce public services individuals who buy goods and services for personal consumption firms that buy intermediate goods and services for use in production of the final product
Business
1 answer:
Ronch [10]3 years ago
3 0

Firms that buy goods and services and sell them at a profit.

Re-sellers purchase things with the intent of selling them to other people and businesses and do not produce new goods or services.

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Kohler Corporation reports the following components of stockholders’ equity at December 31, 2018. Common stock—$20 par value, 10
gogolik [260]

Answer:

1. See the attached excel file for the journal entries.

2. Ending balance of retained earning is $346,125

3.Total Stockholder's Equity is $1,616,125

Explanation:

1. Prepare journal entries to record each of these transactions.

Note: See the attached excel file for the journal entries.

The following are tge workings:

w.1: Treasury stock = $5,000 * $20 = $10,000

w.2: Dividend payable = (Issued and outstanding shares - Shares repurchase) * Dividend per share = (60,000 - 5,000) * $4 = 55,000 * $4 = $220,000

w.3: Cash = Number of shares sold * Selling price per share = 1,875 * $24 = $45,000

w.4 = Treasury stock = Number of shares sold * Treasury price per share = 1,875 * $20 = $37,500

w.5: Additional paid in capital = Number of shares sold * (Selling price per share - Treasury price per share) = 1,875 * ($24 - $20) = $7,500

w.6: Cash = Number of shares sold * Selling price per share = 3,125 * $17 = $53,125

w.7 = Treasury stock = Number of shares sold * Treasury price per share = 3,125 * $20 = $62,500

w.8: Balancing figure = Treasury stock (w.7) – Cash (w.7) - Additional paid in capital (w.5) = $62,500 - $53,125 - $7,500 = $1,875

w.9: Dividend payable = (Issued and outstanding shares * Dividend per share = 60,000 * $4 = $240,000

2. Prepare a statement of retained earnings for the year ended December 31, 2019.

Kohler Corporation

Statement of Retained Earnings

On December 31, 2019

<u>Particulars                                                  Amount ($)  </u>

Opening balance                                       400,000

Income for the year                                    408,000  

Dividend Paid (220,000 + 240,000)        (460,000)

Loss on sale of treasury stock               <u>        (1,875)    </u>

Ending balance                                     <u>      346,125   </u>

3. Prepare the stockholders’ equity section of the company’s balance sheet as of December 31, 2019.

Kohler Corporation

Stockholder Equity Section of Balance sheet

At December 31, 2019

<u>Particulars                                                        Amount ($)</u>

Common stock issued ($20 * 60,000)               1,200,000

Paid-in capital in excess of par v - c. stock     <u>        70,000  </u>

Total contributed Capital                                     1,270,000

Retained Earnings                                      <u>      346,125  </u>

Total Stockholder's Equity                             <u>     1,616,125  </u>

Download xlsx
3 0
4 years ago
Shelby traveled to mexico to a resort and took $100 in u.s. currency. when she exchanged it for pesos, she received
statuscvo [17]

As stated below, Shelby should have received around 1900 pesos due to the exchange rate. The exchange rate fluxtuates and everything is based on the current value at the time of the exchange. When you go to make an exchange, you will able to see what your rate of exchange is based on your currency and the one you are exchanging for.

8 0
3 years ago
Read 2 more answers
which of the following is a partnership for tax purposes? a.melissa purchases a shoe store and hires her sister, whitney, to man
IRINA_888 [86]

Jimmy and Stephen both purchase small stock interest in manufacturing corporation as an investment is a partnership for tax purposes.

<h3>What is a partnership?</h3>

A partnership is a legal arrangement whereby people, sometimes known as business partners, agree to collaborate in order to promote their common goals. A partnership may consist of one or more persons, businesses, nonprofit organizations, institutes of higher learning, governmental agencies, or other entities. Collaboration between organizations can increase their reach and increase the likelihood that each will succeed in achieving its objectives. A partnership may be obligated by a contract or it may issue and own stock. A partnership agreement is required for the formation of any partnership, even one that has not been reduced to paper. Although a written partnership agreement that outlines the essential aspects of their relationship may be advantageous, it is not legally required in common law countries.

To learn more about partnership, visit:

brainly.com/question/9909227

#SPJ4

5 0
1 year ago
Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In
Marta_Voda [28]

Answer:

a. The nominal GDPs are the following: Year 1 = $12, Year 2 = $20, Year 3 = $30.

b. The real GDPs are the following: Year 1 = $12, Year 2 = $16, Year 3 = $20.

c. The GDP Delators are the following: Year 1 = 1, Year 2 = 1.25, Year 3 = 1.5.

d. The percentage growth rate of real GDP from Year 2 to Year 3 is 25%.

e. The inflation rate as measured by the GDP deflator from year 2 to year 3 is 20%

f. Having a single product makes it easy to find these values. If this had been the case with many products, it would have been difficult to answer. In part d, the solution could only have been found by dividing year 1 by the quantity of year 2 and subtracting from 1. In part e the solution would have been found by dividing the price of year 3 by the price of year 2 and subtract 1.

Explanation:

a - b . Nominal GDP is the GDP without the effects of inflation or deflation. Nominal GDP reflects current GDP at current prices.

c. GDP Delator = Nominal GDP / Real GDP.

d. The percentage of real growth from Year 2 to Year 3 is : (Real GDP Year 3 / Year GDP Year 2 - 1) * 100.

($20/$16 - 1) * 100 = 25%

e. The inflation rate from Year 2 to Year 3 is : ((Year 3 GDP Deflator / Year 2 GDP Delator - 1) * 100.

(1.5/1.25 - 1) * 100 = 20%

7 0
3 years ago
Darius, a physically disabled man, is refused the additional wages promised to him at the time of recruitment. When he enquired
nika2105 [10]

Answer:

C. The Vocational Rehabilitation Act

Explanation:

The vocational rehabilitation act was introduced to correct the issues associated with the discrimination of individuals with disabilities in the United States of America.

Darius employers discriminated against him by deciding not to pay him because he is a physically disabled man. The best course of action to be taken if Darius want to take legal actions against his employers is through the Vocational Rehabilitation Act. This is because the act prohibits employment discrimination against qualified persons with handicaps or disabilities.

4 0
3 years ago
Read 2 more answers
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