1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lyudmila [28]
3 years ago
15

Question 7. The corporate charter of Gagne Corporation allows the issuance of a maximum of 100,000 shares of common stock. Durin

g its first 2 years of operation, Gagne sold 70,000 shares to shareholders and reacquired 4,000 of these shares. After these transactions, how many shares are authorized, issued, and outstanding?
Business
1 answer:
ANTONII [103]3 years ago
6 0

Answer:

Share Authorized = 100,000 Shares  

Share issued = 70,000

Share outstanding = 66,000 shares

Explanation:

Data provided in the question:

Number of shares Gagne Corporation allows the issuance = 100,000 shares

Number of shares Gagne sold to shareholders =  70,000

Number of shares reacquired by Gagne = 4,000

Now,

Share Authorized = Number of shares Gagne Corporation allows the issuance

= 100,000 Shares  

Share issued = Number of shares Gagne sold to shareholders

= 70,000

Share outstanding = Shares issued - Number of shares reacquired

= 70,000 - 4,000

= 66,000 shares

You might be interested in
Hercules Workout World gains a client who prepays $ 660 for a package of six physical training sessions. Hercules Workout World
Sergeu [11.5K]

Answer:

Service revenue of $ 440

Explanation:

When the customer prepays, the revenue is yet to be earned hence the entries required would be a debit to cash account and a credit to unearned or deferred revenue.

As the service is rendered and revenue is earned, debit the deferred revenue account and credit the revenue account with the amount earned.

Since $660 was collected for 6 training sessions

Revenue from a training session

= 1/6 × $660

= $110

After 4 training sessions, revenue earned and to be recognized in the income statement

= 4 × $110

= $440

8 0
3 years ago
What is the name of the Inca tot of stock market prices that averages 30 selected industrial stocks?
nydimaria [60]

Answer:

C

Explanation:

I'm smart boy that's y because y = u and u nedda pay attention in class blood

6 0
3 years ago
Which is least like the others<br> Bear, badger, elephant, hamster
grin007 [14]
Elephant I would guess........
6 0
3 years ago
Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for
sveticcg [70]

Answer:

Total spoiled units = 7000

Normal spoilage total = 3500

Abnormal spoilage total = 3500

Total cost per equivalent unit = $3.80

Cost of goods manufactured = $224,000

Ending WIP = $201,165

Explanation:

Kindly check attached pictures

8 0
3 years ago
Predictable books are useful in the early childhood classroom because they
Feliz [49]
Help the child see that they themselves can answer what will happen if they come across a situation like so
7 0
3 years ago
Other questions:
  • 1. Assume that you manage a risky portfolio with an expected rate of return of 20% and a standard deviation of 25%. The T-bill r
    10·1 answer
  • The March 2011 announcement that AT&amp;T was acquiring T-Mobile USA from Deutsche Telekom is a _________ acquisition and is int
    7·1 answer
  • Economic analysis assumes "rational or purposeful behavior," which means that people will pursue decisions or actions rev:
    9·1 answer
  • What is moral hazard? It refers to the actions people take before they enter into a transaction so as to mislead the other party
    9·1 answer
  • Alternative price indexes
    12·1 answer
  • Why does the government plan its financial expenditure framework for a period of five years?
    5·1 answer
  • _____ involves a type of quantitative research that systematically manipulates one or more variables to determine which variable
    13·1 answer
  • Problem 9-41 (LO. 5)
    12·1 answer
  • The overall process of building and maintaining profitable customer relationships by delivering superior customer value and sati
    13·1 answer
  • according to age-earnings data, group of answer choices high earnings are due to motivation and innate ability, rather than educ
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!