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
qaws [65]
3 years ago
14

Coy, Inc. initially issued 200,000 shares of $1 par stock for $1,000,000 in 2016. In 2017, the company repurchased 20,000 shares

for $400,000. In 2018, 10,000 of the repurchased shares were resold for $160,000. In its balance sheet dated December 31, 2018, Coy, Inc.'s treasury stock account shows a balance of:
Business
1 answer:
Ivan3 years ago
6 0

Answer: $240,000

Explanation:

400,000÷20,000 = $20 per share (repurchase price)

160,000 ÷ 10,000 = $16 per share (sales price)

$400,000 - $160,000 = $240,000

The treasury stock account is created upon the repurchase of a company's own stock. The treasury stock account is debited for cost of repurchase and then credited.back when the stocks are resold. However, after repurchasing 20,000 stock for 400,000 and selling hlaf the repurchased stock (10,000) for $160,000, then the repurchase price is greater than the sales price. There will be no paid in capital, with the entire amount credited to treasury stock.

You might be interested in
"Moccasin Company manufactures cotton shirts. 12,000 shirts are produced during the first week of July. The unit quantity standa
steposvetlana [31]

Answer:

<em>The answer is 72,000 Meters.</em>

Explanation:

From the question given, let us recall:

Moccasin Company produces cotton shirts.  =12,000

The unit quantity standard = 6 meters

The  quantity used actually was   = 0.50 meters per shirt

The next step is to determine  the quantity of cloth that should be used for the actual output of 12,000 shirts.

Quantity of cloth that should be used

= 12,000 * 6 meters cloth per shirt

= 72,000 Meters

5 0
3 years ago
You are most concerned for the infant who has
Gelneren [198K]
A i think, did btec childcare
8 0
2 years ago
The profits of West Side Grocery have dropped significantly over the last several months. After investigating, the owner realize
zubka84 [21]

Answer: D) poor planning.

Explanation:

It is in the Planning Stage that expectations are penned down. If this is not set out, people will.not know what is expected of them and as such will move with no specified DIRECTION on projects. In such a situation, business objectives can rarely be met.

Indeed, Poor Planning is one of the major causes of LOW PRODUCTIVITY and PROFITABILITY which is what West Side Groceries is currently going through.

3 0
3 years ago
Etmer enterprises has budgeted sales for the next four months as follows: budgeted sales in units january 7,400 units february 4
Artyom0805 [142]

Units to be produced in February is calculated as -

Units to be produced in February = February sales + Ending inventory of February - Beginning inventory

February sales = 4,600 units

Ending inventory = 25 % * Sales of March = 25 % * 5,300 units = 1,325 units

Beginning inventory - 25 % * Sales of February = 25 % * 4,600 unit = 1,150 units

Units to be produced in February = 4,600 units + 1,325 units - 1,150 units

Units to be produced in February = 4,775 units

8 0
2 years ago
To assign overhead costs to each product, the company:_____.
mina [271]

Answer:

a. multiplies the activity-based overhead rates per cost driver by the number of cost drivers expected to be used per product.

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

Generally, an activity-based costing uses multiple cost pools such as manufacturing cost or customer services and multiple cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.

Cost pool is simply the amount of money spent by a firm on a particular activity.

Hence, to assign overhead costs to each product, the company multiplies the activity-based overhead rates per cost driver by the number of cost drivers expected to be used per product.

In activity-based costing, the activity rate for an activity cost pool is calculated by using the following formula;

Activity rate = total overhead cost/activity for the activity cost pool.

4 0
2 years ago
Other questions:
  • You transferred $6,456 from your checking account to your savings account. The balance in savings was $7,870 before the transfer
    13·2 answers
  • Conceptual Connection: If Gilmore's estimate of bad debts is correct (2.2% of credit sales) and the gross margin is 20%, by how
    7·1 answer
  • You are a Group Supervisor working in a Branch within the Operations Section. Who is your immediate supervisor?
    7·1 answer
  • When you arrive at work, your supervisor gives you a project to complete by the end of the day. Half way through your day, one o
    15·1 answer
  • Matthew owns a warehouse that is used in business while Pamela owns land. Matthew exchanges the warehouse for the land, which wi
    15·1 answer
  • Three reasons why people might accidentally overdraw are:
    7·1 answer
  • he primary objective of financial accounting information is to provide useful information to the following: a. Regulators b. Man
    8·1 answer
  • 9.15. A market contains a group of identical price-taking firms. Each firm has a marginal cost curve SMC(Q) 2Q, where Q is the a
    15·1 answer
  • What is an accurate definition of an ability?
    12·2 answers
  • Chester has negotiated a new labor contract for the next round that will affect the cost for their product Cozy. Labor costs wil
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!