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
antoniya [11.8K]
3 years ago
9

Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common

stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. March 1 Issues 56,000 additional shares of $1 par value common stock for $53 per share. May 10 Purchases 5,100 shares of treasury stock for $56 per share. June 1 Declares a cash dividend of $1.55 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,550 shares of treasury stock purchased on May 10 for $61 per share. Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Common Stock, $100,000; Additional Paid-in Capital, $4,600,000; and Retained Earnings, $2,100,000. Net income for the year ended December 31, 2021, is $610,000. Required: Prepare the stockholders' equity section of the balance sheet for Power Drive Corporation as of December 31, 2021.

Business
2 answers:
MAXImum [283]3 years ago
6 0

Answer:

Total stockholders' equity = $10,014,055

Explanation:

See below images to get step-by-step explanation:

Delvig [45]3 years ago
3 0

Answer:

Total stockholder equity =  $10,014,055  

Explanation:

Detailed explanation is in the attached image:

To calculate for shares eligible for dividend

Opening Balance [100,000] units of stock + 56,000 additional shares less 5100 treasury stocks = 150900 shares eligible for dividend

You might be interested in
Treasury stock is:
VashaNatasha [74]

Answer:

a. Common stock acquired by the company in the open market & recorded as negative equity

Explanation:

A stock which is buy back from the market at market rate issued by the company. It reduces the total outstanding shares of the company. It is the difference of Number of share issued and Number of share outstanding. Its account is consider as contra equity account. So the correct option is a. Common stock acquired by the company in the open market & recorded as negative equity.

7 0
3 years ago
Read 2 more answers
A firm's annual stockholders' report ________. documents the list of all investors who bought the firm's shares during the past
Lapatulllka [165]

Answer:

summarizes and documents the firm's financial activities during the past year

Explanation:

A firm's annual report must include a comprehensive report about the firm's financial and operational activities throughout the year. The SEC requires public corporations to prepare and disclose quarterly reports (every 3 months) that are available to both stockholders and other people interested in them. Generally private companies are required to prepare at least one annual report.

8 0
3 years ago
Suppose that banks decide to hold fewer excess reserves relative to deposits. Other things the same, this action will cause the
marysya [2.9K]

Answer:

c. money supply to rise. To reduce the impact of this the Fed could sell Treasury bonds.

Explanation:

Since in the question it is given that the bank has decided to hold fewer reserves that contain excess reserves as compared to deposits so for this they have to borrowed the amount or the saving amount should be invested

This results in declining in interest rate which causes the money supply risen also the demand and the investment for the nation has risen that develop the inflation but for declining the inflation the FED has to sell the bonds so that it comes at equilibrium point again

4 0
3 years ago
Which feature can be used to accomplish this?UVC wants to standardize their business logic. They want to ensure that workflow or
Anestetic [448]

Answer:

UVC wants to standardize to ensure that workflow order is guaranteed to the same each time. The feature that can be used to accomplish this is:

(A) Lightning Process Builder

(D) Visual Workflow

Explanation:

  • Lightning Process Builder is such a tool in workflow that allows your company without writing any line of code to easily automate the processes involved in the business like customer on-boarding. So UVC can use this feature to accomplish their goal.
  • Visual Workflow is such a tool that works which gives you drag and drop features in the workflow. They are more user-friendly due to their visualization feature so this feature can be used by the UVC.
  • The option B and C are not correct as they are not the good options as compared to other features as Workflow is not efficient as compared to Visual Workflow.
8 0
3 years ago
If actions of the chinese government caused a shortage of domestic currency, then the exchange rate would be
irinina [24]

this will reduce the supply of china's domestic currency which would <u>contract the supply curve of the domestic currency (of china)</u> thus would <u>create demand</u> and thus <u>increasing the exchange rate in comparison to foreign currencies</u> thus leading to <u>appreciation of china's domestic currency in relation to foreign currencies.</u>

4 0
3 years ago
Other questions:
  • A consumer is reading a magazine with an advertisement, but due to a loud sound he is distracted from reading the advertisement
    6·1 answer
  • The Magnuson-Moss ______ Act directs manufacturers and sellers to detail the service coverage, terms, and exclusions on products
    12·1 answer
  • Individuals who want to work and have searched for work in the prior​ year, but are not currently looking for work because they
    11·1 answer
  • Which level(s) of government both receive and distribute intergovernmental revenues?
    8·2 answers
  • In a single sentence, contrast microeconomics and macroeconomics. Next, categorize each of the following issues as a microeconom
    12·1 answer
  • The following are several of the accounts from a recent balance sheet.
    12·1 answer
  • Killian has designed a new board game for kids. His company is now figuring out who the target market is going to be and where t
    14·1 answer
  • Contribution Margin Variance, Contribution Margin Volume Variance, Market Share Variance, Market Size Variance Sulert, Inc., pro
    10·1 answer
  • Looking back over the last ten years or so, what was changed in your workplace? What do you think will happen next in your work
    8·1 answer
  • A company has sales of $125,000, variable costs of $45,000 and fixed costs of $30,000. The contribution margin ratio is
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!