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Lilit [14]
3 years ago
7

Goldman Inc. was organized on June 1, 2014. It was authorized to issue 500,000 shares of $10 par common stock and 100,000 shares

of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.: 1. Issued 40,000 shares of common stock for $16 per share. 2. Issued 20,000 shares of the class A preferred stock for $52 per share. 3. Issued 60,000 shares of common stock for $20 per share. Required Prepare the stockholders’ equity section of the balance sheet immediately after these transactions have been recognized.

Business
1 answer:
sdas [7]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

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Using the FIFO method, the cost of inventory at the end is $15,500, and the market price is $14,500. Using the lower-of-cost-or-
Sindrei [870]

Answer:

Inventory Cost = $14,500

Explanation:

Using the lower of cost or market method implies firstly valuing the inventory at the purchased cost (historical cost). But as the value of a good can change and if the price at which the inventory can be sold falls below its net realizable value the loss (and new value) must be recorded. It is a method for adjusting asset values in subsequent reporting periods.

5 0
3 years ago
You want to search for articles that discuss the role of nature in the poetry of Emily Dickinson. You're specifically interested
DENIUS [597]

Answer:

a.(bees OR flowers) AND dickinson

Explanation:

We defenitevily want Dickinson in our search as it is the writer we are interest on. Thus the statment should be and AND as an OR may leave it off the equation. and the system will look for bees or flowers from pretty much any writer. Dickinson is an exclusive factor.

Then, from the topoc of his poetry we look for bees or flowers at an equal interest. With findings of just one of these two concepts we are satisfied thereofre and OR statement is the way to go.

3 0
3 years ago
In your own words, interpret what 33% of all goods and property are owned by 1% of the
Radda [10]

Answer:

Explanation:

It means that there must be a huge number of people that have little or nothing.

The most recent estimate of America's population is 331,000,000 roughly

1% of the population is 331,000,000 * 1/100 = 3,310,000

So that means that 3 million people own 33% of 14 trillion in property alone. These numbers are really hard to imagine.

1 trillion has 12 zeros behind it

so 14 trillion has 12 zeros behind it.

3 million people own 1,400.000,000 = 14 000 000 000 000 dollars worth of property.

That means that each person in that group of 3 million is 1 of 14 , 000, 000 in wealth just in property alone. The goods will dilute this somewhat, but I think you get the idea.

3 million people in the United States are multimillionaires, if they own 100% of the property. Of course that isn't true, but I think it's fair to say that they are not poor either.

6 0
2 years ago
In 2019, Wesley has a fairly simple tax situation with moderate wage income and a modest amount of interest income. Wesley, age
asambeis [7]

He may file Form 1040.

Explanation:

Form 1040 is the IRS standard form which is used by individual taxpayers to file their annual tax reports.

Form 1040 is the IRS tax form used mostly for personal tax returns submitted by US citizens by the federal government. Form 1040 is a form. The method estimates the taxpayer's gross taxable income and specifies how much the government has to pay or repay.

Who can file? If a person passes the Substantial Appearance Test or the Green Card Test, but some cases exist; people who have a taxable earnings in the US, but refuse to meet the obligation to be resident aliens, must register for taxation purposes for non-resident aliens.

3 0
3 years ago
Austin and kayla have $35,000 in debt (student loan, credit cards, car loan) but have cut up all of their credit cards and start
Klio2033 [76]

The answer is a definite NO. No one should EVER cash in their 401(k) to pay off debt. You will never be able to recover from the loss of compounding interest if you take out money from your retirement account. This money should be saved for retirement or EXTREME emergencies.

Im this case, Austin should take the amount of his raise and use that to start paying down his debt FASTER.

6 0
3 years ago
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