Answer:
$44,100
Explanation:
Given that,
Number of bags sold during the month of June = 4,500
Selling price of each bag = $10
Expects percentage of sales returned = 2% of sales
Total revenue = Sales - Sales returned
= (4,500 × $10) - (2% × 4,500 × $10)
= $45,000 - $900
= $44,100
Therefore, the revenue should CatManDoo recognize in June is $44,100.
Employment law affects every aspect of the workplace. It determines your rights regarding hiring, wage and benefits, eligibility for overtime pay, discrimination, family and medical leave, termination, and more
Answer: $80
Explanation:
From the question, we are informed that prior to May 1, Fortune Company has never had any treasury stock transactions and that a company repurchased 160 shares of its common stock on May 1 for $8,000. The price per share will be:
= $8,000/160
= $50 per share
The balance in paid capital as at May 1 will be 0.
On July 1, it reissued 80 of these shares at $52 per share. This means that there is an increase of ($52 - $50) = $2 per share.
The balance paid on capital as at July 1 will be:
= $2 × 80
= $160
On August 1, it reissued the remaining treasury shares at $49 per share. This mean that there is a reduction of $1 per share.
The balance paid on capital as at August 1 will be:
= -1 × $80
= -$80
The balance in the Paid-in Capital, Treasury Stock account on August 2 will now be:
= $160 - $80
= $80